Thursday, July 31, 2014

VIDEO: Governor Says He Vetoed Insurance Bill Because It Would Have Raised Rates

Guam News - Guam News

Guam - Governor Eddie Calvo says he vetoed the insurance procurement bill or bill 81 because it is a regurgitation of other similar pieces of legislation that senator Ben Pangelinan has introduced.

The measure would allow GovGuam employees to pick their health insurance provider from a list of pre-qualified insurers. The idea is to reduce the costs of healthcare via increased competition.

Currently GovGuam is contracted with only one health insurance provider namely Calvo's Selectcare. However, Governor Calvo says that bill 81 would actually increase the cost of health care by eliminating GovGuam's ability to negotiate for the best price. Governor Calvo says it goes against recommendations made by the Department of Administration and by actuarial groups.

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"Now he is sweeping away all of the actuarial reports that say that this is a bad piece of legislation and what it tries to do and accomplish and he puts out assumptions and calculations from his office of finance and budget. T

his is the same office of finance and budget that created budgets before my administration that nearly bankrupted our government,” said Governor Calvo.

The governor says he recommends that Senator Pangelinan look at the issues brought up by the actuarial and work with administration to make sure there is stability with GovGuam health insurance.

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