NHF to Spend $3.6 Billion for Subsidies This Year

The National Health Fund (NHF) will spend approximately $3.6 billion this fiscal year, as it continues to provide for the healthcare needs of Jamaicans.

Chief Executive Officer (CEO) of the Fund, Everton Anderson, said the sum will be paid out to NHF beneficiaries in subsidy for pharmaceuticals, which represent the largest area of spending for the government agency.

Mr. Anderson was speaking at the handing over of cheques representing NHF grants of $35.4 million to the University of the West Indies, Mona, in support of five medical research projects, at the Courtleigh Hotel in New Kingston on March 10.

He said that for the 2013/ 2014 financial year, just over $3 billion was expended in subsidy payments.

Mr. Anderson noted that since inception in 2003, the NHF has grown tremendously, moving from approximately 15,500 enrolled beneficiaries in 2004/2005 to its current 380,000 beneficiaries.

The NHF provides financial support to the national healthcare system to improve its effectiveness and the health of the Jamaican population through two categories of benefits.

These include the individual benefit, which provides subsidies and pharmaceuticals to individuals for the treatment of chronic illnesses; and institutional benefits, which provides grants to institutions for healthcare-related projects.