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Health Industry Group Highlight Potential Funding Crisis

COLOMBIA
  • At the end of December, the government published a resolution setting a 12.01% increase for 2024 in the so-called UPC, a formula which determines how much the state transfers to insurers per user.
  • This is slightly higher than inflation, but ACEMI, the industry group that represents private health insurers, said it was inadequate given the number of new services and technologies they were obliged to include in basic coverage plans.
    • “The UPC approved for 2024 is insufficient, deepens the crisis in the health care system and makes it nonviable financially,” ACEMI said in a statement posted on X Tuesday.
  • News regarding the minimum wage does potentially eliminate a key source of uncertainty for the central bank board who have been divided over monetary easing. However, JPMorgan did note the government resolution in the MW appears as a deterrent for accelerating the easing pace by the end of this month. Yet, they will wait for the December CPI print to reassess their monetary policy call.
  • The December inflation data is due on January 09, where annual headline CPI is expected to decline to 9.48% from 10.15% in November. The next BanRep meeting is scheduled for January 31.
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