Close to 250 million insurance holders could reverse their rejection of surplus ISAPRE funds

SANTIAGO. -  After a new law was passed yesterday by the President characterizing surplus health insurance (ISAPRE) funds as binding, the Minister of Health, Álvaro Erazo, explains how individuals who had already renounced the funds may change their decision.

“A written request is filed; it can also be done online (at the Superintendencia de Salud web page).  There is a time period within which the paperwork must be filed, it is quite fast and can be done any time during the year”, Erazo told Radio Cooperativa.

Up until now, contributors could use their surplus funds to receive certain benefits such as co-payments to finance some costs during periods of unemployment.  Nevertheless, the problem for the minister is that some of the plans were being offered to a large majority, causing “an information problem”.

Surplus funds are created when a price quote is higher than the price of a plan, meaning that the surplus is generated each month; or whenever there is some kind of temporary bonus.