Originally Posted by Muffin
That suggests to me that there are great gaping holes in Cayman Island’s health insurance system..
I agree. Wholeheartedly.
An employee can refuse to accept the employer's sponsored insurance. In fact many do. Not really a problem if he/she is covered under a spouse's policy that might better.
But if an employee declines coverage and then has medical expenses that should have been covered by insurance but are not then the employer is on the hook. The employer then has to sort it out with the employee.
If a person of independent means lives in Cayman but does not work then they don't really have to have insurance. The mandate falls on an employer. So long as such a person pays his medical bills no one will care if he doesn't have insurance.
The benefits under the minimally acceptable insurance contract (SHIC1) are pretty low. US$32,500 maximum per incident for inpatient care, US$125,000 maximum per year, US$1,250,000 per lifetime. US$18,750 per year for emergency care per incident. Easy to blow through the per incident limits with one car accident. (The law lists the limits in Cayman Islands dollars (KYD). 1KYD = US$1.25)
It is becaue of such holes and limits of coverage that I would not say Cayman has Universal Health Care.
Since this thread was about where Rush could move where there is not Universal Health Care, I say to come on down. We have a billionaire or two or three residing here. We've got the Dart brothers who gave up their US citizenship for tax purposes. Might be Rush's kind of place.
There is even a tertiary care hospital under development to focus on medical tourism sector, particularly cardiac care. A free market delight.