The rising cost of health care affects everyone.

The Ministry of Health will host a full-day symposium to foster a wider discussion on the topic later this month.

The Health Financing Summit is scheduled for Monday, November 22 from 8 a.m. to 6 p.m. at the Fairmont Hamilton Princess. Admission is free.

In the lead-up to the event, Body and Soul is featuring three of the participating speakers. Last week CEO of the Bermuda Health Council, Jennifer Attride-Stirling likened finding a solution to the local situation to "trying to slow down a speeding vehicle".

This week Argus CEO Gerald Simons gives his perspective.

Q. What do you see as the main reasons health care costs are rising on the Island?

A. Health care costs are rising for several reasons, and I give these in no particular order:

1) We have new improvements in technology that didn't exist years ago. X-rays were wonderful when they came out, then ultrasound and now we're onto MRIs. With each advance we get better health care but it's expensive.

2) The cost of prescription drugs. As new drugs are developed there are high research costs so when the new drugs hit the shelves they are more expensive than the ones they are replacing.

3) Significant advertising now goes with the release of pharmaceuticals and this increases demand for the drugs.

4) Consumerism also leads to people requesting a whole array of treatment they have learned about through greater access to information and the Internet.

5) This doesn't happen so much in Bermuda, but certainly in North America doctors often prescribe tests to protect themselves over the possibility of being sued. Many Bermudians go to North America for treatment.

6) A significant reason also lies in the impact of having an unhealthy lifestyle that includes poor nutrition, excessive smoking and drinking and lack of exercise.

7) Older people use more of the system than younger people. This drives up the total cost. Most of our medical expenditure will come in the last two or three years of our lives.

Q. What are the main factors driving up health insurance premiums at Argus?

A. The insurance companies have to take in enough money to cover the cost of claims and administration and realise profit. Health insurance is merely a financing vehicle to collect money from the community at large to pay the medical bills of the few who are sick at any given time, so the premiums must cover the cost of care. A small portion (about 10 to 15 percent) is used to cover the expenses of running the insurance company. As health care costs rise, so do premiums.

Q. What can the average person do to help reduce the increase?

A. To control costs the best measure is for people to take good care of themselves. The increase in costs represents the community as a whole not taking care of their individual selves. That's why the Argus Group was the first to implement a wellness programme for our clients. We want to encourage the community to make healthy lifestyle choices. To help them make healthy choices we also sponsor the annual Argus health fair.

Q. What sort of impact do you think this change can make to cutting costs an 80 percent or 50 percent reduction?

A. That is difficult to say. I don't know. I don't think anyone can say but I do know there are many cases of cancer and heart disease that are preventable in Bermuda. If we didn't have so many triple bypasses and serious cancer treatments, costs would not be so high.