Micare Board Approves the Strategic Goals for the 2nd Strategic Plan (2014-2023)

newsroom_banner

Coined as “2023 Strategic Plan,” the MiCare Board of Directors has approved the proposed Strategic Goals and associated Objectives for the next 10 years (FY2014 to FY2023).  The goal of the strategic plan is to strengthen MiCare’s financial solvency and operational efficiency, and to universalize enrollment of the Plan.  The plan is organized into the following Strategic Goals:

  • The Strategic Goal 1 is designed to strengthen the financial position of the plan.  It carries 11 objectives addressing issues that include net asset growth, claim audits, chronic refill modifications, diagnostic facilities endorsement and implementations.
  • The Strategic Goal 2 seeks to intensify efforts to increase memberships.  Its five objectives include participation of Yap State Government and COM students in MiCare enrollment, mandatory enrollment at the states, and the endorsement and implementation of a universal coverage policy.
  • The Strategic Goal 3 addresses initiatives to diversity coverage benefits, including the addition of life, travel, and funeral program benefits.  Additionally, there are specific planned activities to establish separate “household” and “referral” funds for each enrollee, enabling them to include an unlimited number of dependents while exercising self-control in utilizing the funds.

The 10-Year Strategic Plan has been carefully designed to guide MiCare activities up to FY2023, which represents the end of the financial provisions of the Compact of Free Association between the FSM and the United States.  Based on the Board’s approval, the Management and staff of MiCare are working to finalize the drafting of the Plan for final Board approval in August, 2014.