‘Health reform is better left for another time’

The project of Health reform must be built again together with the actors in the sector and at a better time in which there are no heated tempers.

This was considered by Gustavo Morales Cobo, president of Fasecolda, who also considered that the threshold of up to 2.3 minimum wages for contributions to Colpensiones and above to private funds, established in the pension reform, is balanced, although he acknowledged that there are dissatisfactions. from side to side.

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How did the insurance industry do in the first quarter?

Premiums were issued for $12.93 billion, 6.3% more than in the same period of the previous year, but when inflation is applied, real growth is negative, 1%, but we feel interest from investors. In the first quarter, the Financial Superintendency approved two or three new insurance companies that the country will soon get to know.

The branches that grew the most were private health policies, followed by annuities, which is the branch of pensions in private funds, followed by Soat and occupational risks. Automobiles are growing 9% and claims were paid for $5.3 billion, which is 11.4% more than in the same period of 2023.

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What is the role of the sector in the pension system?

The role is twofold: today only in the private fund regime (Rais) because when the person is going to retire they opt for a life annuity that guarantees a stable income and that is paid for by an insurance company. The pension fund transfers the money that the person saved and the annuity is structured and paid by an insurance company. And the second is that by law pension funds have to take out a policy with an insurance company to cover the risk that their contributors become disabled or die and have to pay a pension to their survivors. This insurance is technically called pension insurance.

What is the vision on the pension reform?

The sector, like practically all observers, considers that Yes, a reform is needed, not so much in our pension system, but in our old-age protection system, and there are many things to correct in the current system because if there are going to be subsidies, they must be much better targeted. and not regressive, which is what happens today. We must guarantee that pensions are sufficient and that the system is sustainable, things that today are not clear on the horizon of the current system and as we are facing a much more accelerated demographic change and substantial changes in the labor market, it is It needs a pension reform and we believe that the general lines of the current reform, as most academics have said, are well oriented.

What do you think of the creation of the pillars?

The solidarity pillar is a public spending decision, it is not associated with a pension concept, but it is something natural in a social state of law that the State helps people who do not have any income in their old age, and who cannot generate it. That the legal mandate exists is reasonable.
The semi-contributory pillar that will give a life annuity to those who did not manage to have enough savings or enough weeks of contributions to fully retire, is also progress in the right direction. and there we believe that that part of the project is good. There a life annuity will be generated for these people, which is not a pension and therefore is not subject to the very rigorous rules of a pension, but it will give a permanent income to these people.

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The issue of the contributory regime comes up. The general structure of this regime, where the duality between the average premium regime, read Colpensiones, and the individual savings regime is eliminated, is a very important step in the right direction. The amalgamation between the two regimes is the correct one, but of course, the big question arises that has been the subject of great debate to what extent the average premium is and to what extent it is an individual regime and at this time The limit has been drawn at a threshold of 2.3 minimum wages. This is a reasonable limit because it combines concerns about fiscal sustainability with criteria of equity and the promotion of savings. Any move up or down from that has risks and the call is for Congress to be aware of those risks. For example, a downward movement could jeopardize the adequacy of the resources allocated to this pension insurance and an upward movement could jeopardize the fiscal sustainability of the State. No one is going to be fully satisfied and no one is going to be fully dissatisfied and that means that democracy is working.

Is pension insurance strengthened with the reform?

The novelty in the reform is that this socially effective mechanism is extended to the world of Colpensiones. A mechanism that has demonstrated its social effectiveness will now benefit, not only those who are in private funds, but also all those who will now enter at medium premium.

Isn’t the time for the reform to come into force too short?

As proposed in June 2025, it could be applied for the solidarity pillar and for the semi-contributory pillar where the adjustments are relatively simple and for the contributory pillar, where more complex changes are required, a transition regime of three or four years could be given.

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What do you think of the health reform?

It is a shame that the need for reform has been tainted by the level of toxicity of the debate. I propose that the health reform be left for a better time and tempers be lowered.

It is said that Andi is going to create a private health insurance chamber. What do you think?

Every time the Andi creates a new chamber that competes with the unions, greatly enriching the debate because Andi’s team is extraordinary.

And the new health care system for teachers?
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It is absurd that teachers have a regime that ended up discriminating against them. They must be in the general system of society.

HOLMAN RODRÍGUEZ MARTÍNEZ