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Rate of the Contribution to the National Health Public System

Resolution No. 498 of August 1, 2017, issued by the Ministry of the Popular Power for Economy and Finance (the “Resolution”), was published in Official Gazette 41.205 of August 2, 2017. The Resolution, according to the Law of the Insurance Activity and upon the proposal of the Superintendent of the Insurance Activity, fixes at 3% of the amount of the premiums of health insurance policies, of the installments of health plans, and the amount of the income obtained as remuneration for risk management contracts, corresponding to economic year 2017 -  net of cancellation and return, as appropriate - the contribution that insurance companies, prepaid medicine companies, cooperative associations that carry out insurance activities, and risk management companies  are bound to pay during economic year 2017 as a contribution to the Social Development  intended for the Fund of the National Heath Public System or any other fund considered by the National  Executive.    

 

The rate of said contribution during the aforesaid economic year will be calculated and paid on a half-yearly basis.

 

The Resolution will become effective upon its publication in the Official Gazette.

 

In order to access the Resolution, please click here.

 

“NOTE: THIS INFORMATION SHOULD NOT BE CONSTRUED AS LEGAL ADVICE ON ANY SPECIFIC MATTER AND ITS CONTENT ARE INTENDED AS A MANAGEMENT ALERT AS TO CURRENT DEVELOPMENTS IN VENEZUELA, ANY SPECIFIC LEGAL QUESTIONS REGARDING THE POSSIBLE APPLICATION OF NEW OR PROPOSED LEGISLATION TO PARTICULAR SITUATIONS SHOULD BE ADDRESSED TO TRAVIESO EVANS ARRIA RENGEL & PAZ.”