INS tells their Insurance brokers there would be “consequences” if they sold any other company’s products.
Every Costa Rican knows [since they can remember] the government monopoly of, oil/gas, electric, internet, and insurance has been one big headache after another. In Oct, 2007 when Costa Rica’s Free Trade Agreements (FTA) were signed, it looked like for the first time Costa Rican’s were going to get a break, when foreign companies could compete with government companies, especially for insurance. Ticos, for the first time would be able to pick a company based on service, care, quality, and cost.
Over a year later it looked like FTA was not working, then Canada’s American Life Insurance Company (ALICO) and a few others had received approval to sell in Costa Rica.
But has it happened? Well not quite as expected.
One of the first signs it was under undergoing, “Rules of Engagement” was with the new requirements for foreign residents (expats or permanent residents), who had to show proof of medical insurance to the government Caja, Costarricense de Seguro Social, which forced Expats scrambling for coverage from Instituto Nacional de Seguros, (INS), and/or Caja Costarricense de Seguro Social, (CCSS), which is government’s socialized medicine. Very few got coverage from foreign companies. Read more... (635 words, 2 images, estimated 2:32 mins reading time)
Hiring a person to pick a few bushels of coffee off your land may cost you more than you think, that is if you are not paying the payroll taxes
The scenario starts innocently enough. Expats come to the country and start looking for someone to help with household chores like maid or gardener service. If you are not living in a gated community where they have these services, it starts by asking around for references or putting the word out in their community.
Try not to place an ad in some local paper or post one in a market down the street, because all kinds of weirdos answer them. Some even are crooks looking to case out locations to rob.
Costa Rica’s labor is good, however, one must understand how the labor laws work, otherwise you may find yourself in court. Read more... (926 words, 2 images, estimated 3:42 mins reading time)
Costa Rica and Canada try and continue to better their relationships, with free trade and visas
It’s no secret that North Americans are the dominating foreigners that live in Costa Rica. And because of that, Costa Rica also would like to increase Canadian tourism. It is estimated that some 100,000 Canadians come to Costa Rica each year and about 10,000 Canadians live there, compared to 10 times that amount of Americans.
And because of the Canadians tourism and expats, both governments want to increase revenue from it. However, there is this, Do this for me first and, I will think about doing this for you second, mentality will probably stone wall any reasonable agreement between the two countries if they don’t wake up to reason.
Last week, Michaëlle Jean, the Canadian governor general, met with President Óscar Arias Sánchez to help develop a better relationship. However, Jean is only a representative of Queen Elizabeth II in Canada, at most, a ceremonial post, but does have a tad of influence. How much? Humm … interesting question.
There are a lot of major hurdles to accomplish a better relationship, we will write about three that we consider have to be overcome if either government wants to develop a better relationship and make some more bucks while doing it. Read more... (469 words, 1 image, estimated 1:53 mins reading time)
INS Costa Rica's only insurance company may now have some competitors
It seems that CAFTA may be working … for over 50 years, American Life Insurance Company has been dedicated to working families in Canada and the US won conditional approval this week to sell insurance in Costa Rica.
This company will operate under the name of Alico Costa Rica and the license is requested for the sale of policies in the category of personal insurance, including life, annuities, accident and health.
In the past Costa Rica has had only one monopoly insurance company, the INS (Instituto Nacional de Seguros – National Insurance Institute), a mixed public/private capital enterprise with majority government ownership. And until this time, only INS is allowed to sell insurance in Costa Rica. However, many (if they can) get offshore medical and other insurance policies that provide coverage in Costa Rica. A few of our accounts have insurances that will reimburse for medical expenses.
INS sells insurance directly at its many offices throughout the country, or you can purchase a policy directly from a registered agent. It will cost the same, but a responsible agent (not all are, so be careful) is preferable, as you will get advice and help with the red tape if, along the line, you have to file a claim. Read more... (473 words, 1 image, estimated 1:54 mins reading time)
FTA, "Is it working?"
Back in Oct, 2007 Costa Rica (by a close vote (53/ 47) approved a free trade agreement (FTA) with the United States. The vote split the country, with supporters arguing it would bring economic development, and critics warning (mostly labor unions) that it would hurt the little guy, like farmers and small businesses.
This trade agreement was suppose to expand Costa Rica’s access to the US market and vise-versa. In other words attract US and other investments, and connect Costa Rica to some of the most dynamic economies of our Western hemisphere over a period of several years. Costa Rica government claimed by 2010, all doors would be open.
The Central American Free Trade Agreement (CAFTA) has become more divided, between the 10s of thousands of Costa Ricans’ that live in poverty, the lack of jobs for the young, and the current decline in the tourist industry, which accounts for millions of revenue for local businesses and government.
Unions and activists Protesting the FTA back in 2007
CAFTA supporters claimed in the beginning, “Accepting it would boost Costa Rica’s exports by half a billion dollars from the first year” Read more... (608 words, 2 images, estimated 2:26 mins reading time)
