Health Insurance (Health System Strengthening Fund) Amendment Act 2024

What this bill does

This bill creates a new fund called the Health System Strengthening Fund that will receive money from Bermuda's existing health insurance system. The fund will be used to improve healthcare in Bermuda through digital health technology, better health data tracking, improved care coordination, and healthcare worker training programs.

If passed (voted YES)

• A new managed fund will be established with money taken from the Mutual Re-Insurance Fund to invest in healthcare improvements
• The Health Minister will be able to direct where this money goes to strengthen Bermuda's health system, including digital health projects and workforce development
• The fund will have formal oversight with annual financial reporting to the Auditor General and Legislature

If rejected (voted NO)

• No dedicated fund will be created for health system improvements and the money stays in the existing Mutual Re-Insurance Fund
• Healthcare system strengthening projects would need to be funded through other means or government budgets
• The current health insurance funding structure remains unchanged

Who it affects

This affects all Bermuda residents who use the healthcare system, as the fund aims to improve overall health services. Healthcare workers and institutions may also benefit from workforce development and system improvement investments funded through this new mechanism.