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Cyprus Health Insurance Organization President Assures Financial Sustainability of GESY

Published February 16, 2026, 14:33
Cyprus Health Insurance Organization President Assures Financial Sustainability of GESY

The President of the Health Insurance Organization (HIO), Stavros Michail, assured that the General Health System (GESY) is not at risk in terms of financial sustainability, as it has reserves higher than international recommendations. The statement was made after a meeting with the General Secretary of AKEL, Stefanos Stefanou. Mr. Michail stated that the system has a “very good reserve” and that the concerns expressed are not confirmed by the data. However, he stressed the need for continuous monitoring and timely intervention where required, as every actuarial study requires vigilance. The main goal of the current phase is to improve the quality of healthcare, through addressing abuses, incorporating innovative drugs and technologies, rationalizing drug prices and proper capacity planning. Mr. Stefanou, for his part, emphasized the need for rational management of resources and the coverage of many needs in the health sector. Although the issue of sustainability was not discussed extensively, Mr. Stefanou acknowledged that careful planning and proper management are required to rationally manage available resources, with the aim of upgrading and strengthening GESY in the long term.