Uruguay approves funds to stabilize Casmu healthcare provider
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Uruguay’s Senate unanimously approved a law granting Casmu, a healthcare mutual, access to a $108 million fund guarantee. The law allows Casmu to seek an additional $12 million through contributions from its physician shareholders, known as capitalizadores, pending approval from the Ministry of Public Health.
The approval follows negotiations in the Chamber of Deputies, where lawmakers reached an agreement between the governing coalition and the opposition after weeks of debate.
Initially, the Executive Branch requested $120 million, but the final amount was reduced by 10%. Casmu’s physician shareholders will be asked to contribute approximately $57 per month for up to 48 months, totaling around $8.7 million. This capital will be used for investments in infrastructure or technology. The agreement requires Casmu’s shareholder assembly to approve a “capitalization plan” outlining how the funds will be used. Several groups criticized the requirement for physician contributions.
Fosalba, a medical association, pointed out that doctors already contributed over $25 million through salary deductions as capitalizadores. The Uruguayan Medical Syndicate also argued that requiring further financial contributions from physicians was unfair. Senator Pedro Bordaberry defended the contributions as a way for shareholders to take more control of the institution and ensure responsible management. The law also mandates quarterly reports to the General Assembly detailing the progress of Casmu’s restructuring plan and its financial situation.
