Bmda: Recipe for disaster

The head of the Argus Group said that spiralling prices of for healthcare could not be indefinitely borne by the customer, and urged Government to better regulate pricing in this sector.

In his letter to shareholders Gerald Simons, president and chief executive office of Argus expressed surprise that Government recommended that health insurance should go up by 22 percent and confirmed it would actually go up by about 12 percent with Argus.

“Clearly, employers and their employees who, in most cases, share these costs cannot tolerate increases of this magnitude indefinitely,” said Mr. Simons in a letter to shareholders this week.

And Mr. Simons said Argus hopes that a health council will be set up by Government to regulate the health care industry - and stop the costs going out of control.