SZV submits 2023 draft budget



PHILIPSBURG, St. Maarten — The 2023 draft budget of Social & Health Insurances SZV was submitted to Minister of VSA, Mr. Omar Ottley on March 31st, 2022, before the deadline of April 1, as stipulated in the law. Director of SZV, Mr. Glen A. Carty presented the budget to the Minister, which sets an important tone on the future of SZV and the sustainability of the health care funds.

Glen A. Carty, SZV Director

“Given the fact that the healthcare reserves are in a dire state, the evident economic stagnation, insured health care needs and health care environment, a more direct approach to improvement was sought. The core of the budget is the new ‘Beyond 3.0.’ strategic plan of SZV, which is translated in the proposed performance agreement of the Director of SZV. Besides sustainable funds, the revamping of the business processes, digitizing workflows, enhanced customer solutions, empowering staff, and SZV’s own office building, also find a place in the updated strategic plan. These activities are being executed, optimized and monitored in our three year Transition Program. Every employee of SZV will have a role to play in the future of SZV.” – Director SZV, Mr. Glen A. Carty

Notwithstanding SZV’s continued efforts to find new and more efficient ways of doing business, the need for health reform remains an important attention point due to the fact that the current situation of the healthcare funds is financially not sustainable. SZV and the Government of St. Maarten, with the required cooperation of various stakeholders, are establishing strategies that can minimize structural shortages within the upcoming years.

The budget includes a multi-annual projection prepared for all the funds, including the general operations, which runs through 2028. As such, the forecasted budget includes, the automation of the healthcare and premium systems, investment in collection compliance projects, (outdated) legislation reviews and proposed amendments, increased wage limits, medical referral cost savings, and the pharmaceuticals savings project, to name a few.