London Daily

Focus on the big picture.
Monday, Sep 01, 2025

Over $40M yearly! NHI could bankrupt gov't if not fixed

Over $40M yearly! NHI could bankrupt gov't if not fixed

Premier Andrew Fahie has said his administration is now pumping more than $40 million per year into the National Health Insurance (NHI) scheme, which he believes will bankrupt the government if the programme continues in its current form.

The Premier gave that indication during Thursday’s session in the House of Assembly where he said the unsustainable health insurance scheme is now being revised.

“It’s $42 million now - because of it not starting correctly - that we have to fork out every year as a government into NHI, and with COVID-19 it hasn’t gotten any less.”


NHI was doomed from the beginning

Premier Fahie, who is also the Minister of Finance, said the decision by the previous government to immediately start the scheme without allowing enough time for it to collect the needed funds was not prudent.

The Premier said from that moment onward, the NHI had started to generate millions in debt for the BVI government.

“The first set of calls at NHI was in the millions and NHI never catch itself from then to now and, as a matter of fact, the Minister of Natural Resources said it completely; if it is not reviewed, it will bankrupt the British Virgin Islands,” Fahie said.


$1 million into developing solution

The Premier said his government is now actively working on a plausible solution to revive the NHI scheme.

He said $1 million of funding was provided within government’s $40 million economic stimulus plans to hire the best professionals to ensure the revised NHI scheme is profitable.

The NHI and Social Security boards were responsible for selecting these professionals, the Premier said.

“So to help the people of the Virgin Islands to get out of this $42 million a year, to make sure that NHI can finance itself, to make sure that we can open new doors for NHI, we put a million dollars inside of the economic stimulus looking into the future to make sure that we develop NHI in such a way that it can pay for itself, and also have revenues to help with many other things,” the Premier explained.

No deadline for the revised plan has been announced but the Premier said the experts had projected to complete the plan in 18 months.

He, however, said that 18 months was too long and requested they complete the project in a shorter period.

Newsletter

Related Articles

0:00
0:00
Close
WhatsApp is rolling out a feature that looks a lot like Telegram.
Investigations Reveal Rise in ‘Sex-for-Rent’ Listings Across Canada Exploiting Vulnerable Tenants
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
×