WILLEMSTAD – The deficit in Curaçao’s Health and Accident Insurance Fund (ZV/OV) rose to more than 63 million guilders in 2023, according to the annual financial report of the Social Insurance Bank (SVB). This marks an increase of nearly 10 million guilders compared to the previous year. 

The ZV/OV fund, managed by the SVB, provides insurance coverage for private sector employees against medical expenses and work-related accidents. The growing deficit signals that revenues from premiums and other contributions are no longer sufficient to cover the rising costs of healthcare, continued wage payments during illness, and accident-related benefits. 

In its report, the SVB points to a persistent imbalance between income and expenditure. Contributing factors include an increase in the number of insured individuals and rising healthcare costs. However, the report does not outline any concrete measures for how the shortfall will be addressed in the future. 

The widening deficit raises concerns about the long-term sustainability of the ZV/OV fund and may prompt further debate on healthcare financing and insurance reform in Curaçao.