Health Insurance

Health insurance in Bermuda is governed by the Health Insurance Act 1970. The Act states that employers are legally required to insure employees and their non-employed spouses for at least the basic benefits package, the Standard Hospital Benefit (SHB). Government provides patient subsidies for youth, indigent and aged.

The Health Insurance Act 1970 also mandates that every insurance policy must include the SHB, at the minimum. However, there is no requirement for insurers to sell SHB on its own, and insurers are not obliged to take on any category of person or group. Typically, health insurance packages offered by insurers include additional benefits beyond SHB, for example medical and dental care.

SHB covers a majority of local hospital services and some non-hospital services (radiology and home medical services). The fees for benefits included in SHB are regulated by law, and those fees must be paid in full by insurers.

Every year, the premium rate for the SHB – the Standard Premium Rate – is established and legislated by Government. The rate is set following an Actuarial Review conducted by the Bermuda Health Council (BHeC).

Visit BHeC Publications for the Actuarial Reviews.

SPR Infographic