SZV: Estimated 200 million guilders owed in premiums

PHILIPSBURG–Delinquent employers owe an estimated combined total of around 200 million guilders in outstanding premiums to Social Health Insurances (SZV), the company’s Chief Financial Officer (CFO) Elton Felisie said on Thursday.

He was at the time responding to questions at a press conference in which SZV outlined its plans for this year and its strides in 2016.

Felisie said the outstanding amount dates back to the year 2000. The figure, he explained is an estimated figure as some businesses have since closed, amongst other things.

SZV estimates that businesses in St. Maarten are around 70 per cent compliant in honouring their premium payments and some 30 per cent are not compliant.

SZV is tackling the issue by having its account officers visit businesses to determine their compliance. The insurance service provider will make arrangements with businesses that have outstanding premiums to clear off their backlog. Businesses that fail to honour their payments even after several requests and warnings will be subjected to the necessary penalties.

SZV official Glen Carty said SZV’s goal is not to put businesses out of operation, but to work with them on their compliance.

Source: The Daily Herald