Since it is mandatory for every resident in the Cayman Islands to have the minimum health insurance, it is essential for you to know the laws that must be followed by you and your employer.
Employers are mandated to provide a Standard Health Insurance Contract (SHIC) plan for all their workers from their very first day of employment, regardless of the type or length of their work permits. This requirement extends to any unemployed dependent spouse and child(ren) living on-Island. The same provisions also apply to the self-employed, those in a partnership and those with permanent residency without the right to work.
Legally, an employer only has to pay half of the single premium, based upon the lowest-costing plan made available to the staff, and the employee pays the other 50%. Given that premiums can change year to year, always do your research, and negotiate with your employer that they pay more than the minimum contribution level; particularly in relation to the cost of your dependents, (for which you might have to pay 100%) and any premium differentials for upgraded benefit packages.
Some brokers may be agents of a particular insurance company, or may only acquire quotes from just one or a very limited number of insurers, so you may wish to query which insurers they work with before choosing.
If any employer or individual wishes to obtain additional coverage above what is given by the company with which they are employed, or the Government, they are able to do so, but, beware that the Health Insurance Commission cannot regulate the rates charged. All medical payments by insurers are based on the Standard Health Insurance Fee (SHIF) schedule, which can be found at www.dhrs.gov.ky. (Look for the 'Standard Health Insurance Fees' on the 'Health Insurance Commission' page). You can find the details of various Insurance Benefits, rates, claim forms and packages on the insurers' websites. For instance, see CG BritCay's Forms.