For the first time since the National Insurance programme started in 1974, the rate of contribution payments will be increased for employed persons. Beginning June 1, 2010, the rate will be increased by 1% – one half percent
(.50%) to be paid by the employer, and one-half percent (.50) to be paid by the employee. This means that the current rate of 8.8%, shared 5.4% for employer and 3.4% for employee, will change to 9.8%, shared 5.9% for employer, and 3.9% for employee. This translates to a maximum weekly increase of $2 for the employer and $2 for the employee.
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In February 2006, the National Insurance Board (NIB) began the initiative to have all long-term benefit and assistance payments deposited directly into pensioners’ bank accounts. Apart from the efficiency gained as a result of the direct deposit, NIB considered the initiative to be a significant step forward in ensuring that the actual process of paying pensions and assistance payments was more humane and individualized, as well as confidential.
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The National Insurance Board and The Bahamas Pharmaceutical Association announced on Thursday that they are working together to successfully launch the National Prescription Drug Plan (NPDP) in August of this year.
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The National Insurance Board and The Bahamas Pharmaceutical Association announced on Thursday that they are working together to successfully launch the National Prescription Drug Plan (NPDP) in August of this year.
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By Jimenita Swain ~ Guardian Senior Reporter ~ jimenita@nasguard.com:
Early registration for the National Prescription Drug Plan is expected to begin next week Monday, said Minister of Health Dr. Hubert Minnis yesterday.
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Who is Eligible?
In the first phase of the National Prescription Drug Plan coverage has been extended to three specific groups.
These groups include NIB pensioners, NIB invalids and children under 18 (or under 25 if in full- time education).
For persons of these groups to be eligible for membership in the Plan, they should have been diagnosed with one or more of the 11 chronic diseases covered by the Plan.
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