Health Insurance Cost in the Cayman Islands
Health insurance is mandatory for every Cayman Islands resident. FOI-verified SHIC premiums run from about CI$124 to CI$167 a month for a single employee, with enhanced and comprehensive plans costing more. Employers must cover at least half of the employee's premium.
Health Insurance Costs in the Cayman Islands
Health insurance is mandatory for all Cayman Islands residents under the Health Insurance Act (2021 Revision). The minimum legal coverage is the SHIC (Standard Health Insurance Contract). All figures are in CI$ (Cayman Islands Dollars).
SHIC market rates (verified by a Health Insurance Commission FOI response): single-employee monthly premiums range from CI$124 (CINICO, age 18 to 39) to about CI$167, the regulated ceiling most flat-rate insurers charge. Family SHIC premiums run roughly CI$408 to CI$509 per month. 7 insurers are approved to write health insurance in the Cayman Islands.
Above the SHIC minimum, plan tiers are not rate-regulated and cost more: enhanced plans roughly CI$200 to CI$650 per month, mid-level CI$300 to CI$1,100, and comprehensive CI$650 to CI$2,500+ per individual. Every person is priced individually by age and health risk; there are no flat family tiers under SHIC.
Employers must cover at least 50% of the employee's own SHIC premium; dependent premiums are typically 100% employee-paid. Because premiums rise steeply with age, the cost difference between insurers and plan tiers is large, so comparing before you buy matters.
Frequently Asked Questions: Cayman Islands
How much is health insurance in the Cayman Islands?
FOI-verified figures put a single-employee SHIC (the mandatory minimum plan) premium between about CI$124 (CINICO, age 18 to 39) and CI$167 a month, the regulated ceiling most flat-rate insurers charge. Family SHIC premiums run roughly CI$408 to CI$509 a month. Enhanced and comprehensive plans cost more, from about CI$200 up to CI$2,500+ per person depending on coverage and age.
Is health insurance mandatory in the Cayman Islands?
Yes. Under the Health Insurance Act (2021 Revision), every resident of the Cayman Islands must hold at least SHIC (the Standard Health Insurance Contract). Employers are legally required to arrange coverage for their employees and to pay at least 50% of the employee's own SHIC premium. Dependent premiums are typically paid in full by the employee.
What is SHIC in the Cayman Islands?
SHIC stands for Standard Health Insurance Contract, the legally mandated minimum health coverage in the Cayman Islands. It sets a baseline of benefits every approved insurer must offer. Premiums are priced individually by age and risk rather than in flat family tiers, which is why costs rise steeply with age. Daily.ky tracks SHIC rates on /health-insurance.
Does my employer pay for health insurance in the Cayman Islands?
Partly. By law the employer must arrange your health insurance and cover at least 50% of your own SHIC premium; you pay the rest. Premiums for dependents (spouse, children) are not required to be split and are usually 100% the employee's cost. Some employers voluntarily cover more than the legal minimum as a benefit.