TCI NATIONAL INSURANCE BOARD ILO PRESENTATION ON DIFFICULT TO COVER - PDF document

TCI NATIONAL INSURANCE BOARD ILO PRESENTATION ON DIFFICULT TO COVER GROUPS PRESENTED BY: CHRISTA QUELCH, BRANCH MANAGER OPERATIONS COVERAGE OF THE SCHEME � THE TCI NATIONAL INSURANCE WAS ESTABLISHED ON 6 APRIL 1992 AND IS ONE OF THE YOUNGEST IN THE REGION. � A: WHO IS COVERED? � UNDER THIS ORDINANCE, EVERY PERSON WHO IS BETWEEN THE AGES OF 16 AND 65 YEARS AND GAINFULLY OCCUPIED IN INSURABLE EMPLOYMENT WITHIN THE ISLANDS. � B: WHO IS EXCLUDED? THE UNEMPLOYED � C: STATISTICS ABOUT COVERED PEOPLE, CONTRIBUTORS & BENEFICIARES � SOME 20k FOR WHOM CONTRIBUTIONS ARE BEING MADE. � SOME 3700 REGISTETED EMPLOYERS � 1580 BENEFICIARIES- RETIREMENT REPRESENTING 68%

CONTRIBUTION RATES � PRIVATE SECTOR & TCIG NON-PUBLIC SECTOR-----8% -EMPLOYER 4.6% EMPLOYEE 3.4% � � SELF EMPLOYED-----6.8% � TCIG PUBLIC OFFICERS-----6.85% � GOVT- 4.025%: IP-2.835% � FOR AN INSURED PERSON OVER THE AGE OF 65 YEARS 1.2% PAID BY THE EMPLOYER FOR INJURY ONLY. CONTRIBUTION RATES (CONTD) � MAXIMUM CONTRIBUTION CEILING $3,500 FOR INSURED PERSON � SELF-EMPLOYED CAN ELECT ONE OF THE FOLLOWING BANDS:- --- $100 PW $200 PW $400 PW OR $600 PW SELF-EMPLOYED RATE IS 6.8% NOTE: THIS GROUP OF PEOPLE IS NOT COVERED FOR EMPLOYEMNT INJURY.

Administrative Procedures for affiliation, contribution collection & benefit payments � EMPHASIS IN DIFFICULT-TO-COVER GROUPS � SELF -EMPLOYED � DELIQUENT CONTRIBUTORS ARE ASSESSED A 10% SURCHARGE FOR THE FIRST MONTH WITH AN ADDITIONAL 3% FOR EACH SUBSEQUENT MONTH INCENTIVES TO FORMALIZATION � REACH OUT PROGRAMS ENCOURAGING THEM TO PAY AND LETTING THEM KNOW THE BENEFITS ENTITLED TO OR TO FILE NIL RETURNS TO ADVOID BEING ACCESSED. � B: NO

DIFFICULT TO COVER GROUPS � SELF-EMPLOYED ARE THE MOST DIFFICULT GROUP � A: THESE ARE THE FISHERMAN AND SMALL/PETTY CONTRACTORS � B: NO LEGAL OR ADMINISTRATIVE BARRIERS PREVENTING THEM. � C:NONE