Dana Malcolm
Staff Writer
Executives of the National Insurance Board (NIB) and the National Health Insurance Board (NHIB) have signed the Memorandum of Understanding officially joining the two worker-funded agencies. It’s the culmination of years of work and they’re certain it will create ease of access and improve overall contributor experience.
The linking of the two national plans has been in the works for some time, and went through changes, from the proposed creation of a joint national revenue authority to oversee collections back in 2014; to the finally approved National Insurance Shared Services (NISS) Bill almost a decade later in November 2023.
What the signing of the MOU means now, is that a three-part process to unite the two agencies has begun. The first layer of the process is a new registration portal. After that, the compliance agents will begin working simultaneously, collecting overdue contributions for both agencies at once, and finally, the NIB and NHIB are slated to move in together under the same roof, promoting ease of access for customers.
The government says that the merger was necessary because there were so many overlapping services between the NIB and NHIB that could be streamlined and made more efficient. Despite the ‘streamlining’ there have been assurances that there won’t be any layoffs at either agency, which was a concern for some residents.
Another concern shared by some was the potential mixup of contributions or the crossover of cash that is to be separate. While tabling the NISS bill in 2023 Arlington Musgrove, Minister of Immigration and Border Services, said there would be no such thing, maintaining contributions would be ‘strictly separate.’
That 2023 NISS bill laid the legal groundwork for Wednesday’s merger. But what exactly does that mean for taxpayers who contribute to both agencies and will it actually make life easier?
Here’s what’s confirmed to change according to the government:
- Customers will be able to register online for both organizations at the same time with a new NISS Portal.
- The same is true for those registering in any NHIB or NIB office, once you’re registered for one service you are automatically signed into the other.
- Registration now comes with a single unique registration number and card for both organizations.
- The NHIB Contribution Due Date will be harmonized with NIB for payment by the last working day of each month as opposed to the 14th.
- Employers and self-employed persons will be able to pay their contributions at any office in Provo, Grand Turk, North / South Caicos for both services.
- All Inspectors from either agency will be legally empowered to perform all the duties of an Inspector for both organizations simultaneously
- Both compliance departments will operate as one unit from their current locations and will coordinate compliance activities. TCIG says this will lead to ‘improved productivity, increased efficiency, reduced duplication /waste, increased compliance collection.’
An additional feature that is coming to the agencies is an online system in which customers will be able to access their contribution payment records for both organizations.
Sitting in on the ceremony held on April 10 was Washington Misick, TCI Premier and Minister of Finance alongside executives from both agencies.
