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Jan 21, 2022

S.S.B. Has Paid Out More Than $4Million in COVID Benefits

And, just in case you were wondering how S.S.B. is doing as it continues to pay out sickness benefits to COVID patients, Ruiz says there is sufficient money to cover that. Since the disease has plagued our economy, however, COVID related payouts surpassed four million dollars.

 

Deborah Ruiz

Deborah Ruiz, C.E.O., Social Security Board

“For every time somebody goes into the workforce and pays a contribution, we have a liability to pay a benefit. And, as I said, it would be short-term, whether that is sickness, maternity, funeral grant; we have employment injury and the medical care that comes with that. We have pensions, retirement, invalidity, disability, so your contribution is shared among these different funds and we have to grow reserves. We have to have savings in order to pay the long-term liability and the one that costs the most is the pension. We have four point four million dollars paid out in 2021 for COVID sickness claims, in terms of overall payout for sickness benefits. I think we spent about thirteen million dollars in payouts. We paid about twenty-nine thousand cases overall and about eleven thousand point eight thousand cases for COVID specific sickness. That would work out in 2020 to about twelve point seven days on average per person and in 2021, even though we were paying out more claims, the number of days that persons were sick is less, and starting out in 2022, we’re already seeing that the average is coming down. So even though we’re getting more claims, the recovery seems to be shorter in terms of the number of days we’ve paid out. We have a total to date from March 2020 to 2022, last week, a hundred and sixty-five thousand, one hundred and thirty-one sick days that we have paid out.”


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