Adeslas Declines New Muface Healthcare Contract Citing Unsustainable Financial Risks
Adeslas, a leading insurer in Spain, has announced its decision not to participate in the upcoming contract to provide healthcare services for civil servants under the Muface mutuality. The firm articulated its concerns in a recent statement, explaining that the conditions set forth in the new contract could result in losses of approximately 250 million euros for the period spanning 2025 to 2027. This projected financial impact closely mirrors the losses the company has faced between 2022 and 2024. Notably, the government has opted to increase the average premium per member by 335 euros, yet Adeslas labels the Muface model as economically unsustainable, particularly after years of operating with deficits. Continuing under these new conditions, the company believes, would jeopardize its financial stability and future.
In the context of the proposed contract, Adeslas previously requested a two-year agreement with a cumulative premium increase of 34.24% for 2025, alongside an additional 10% for 2026. The insurer drew a comparison with its acceptance of a premium increase of 17.12% for the Mugeju and Isfas mutualities, asserting that to maintain an economic balance, the increase for the Muface contract in 2025 and 2026 should be reset to 47%. However, the government's proposal includes an average rise of 26.62% for the same period, escalating to 33.5% if an additional third year is factored in. This discrepancy has led Adeslas to conclude that there exists a critical funding gap of 20 percentage points between the increases they are requesting (47%) versus what the government has offered (26.62%). Such a shortfall, estimated to cause an approximate annual loss of 80 million euros, is deemed unsustainable for the insurer.
While Adeslas acknowledges the government's fiscal efforts during this second tendering process, they express that the proposed adjustments are clearly inadequate to prevent further financial detriment. The insurer, which is partially owned by CaixaBank and Mutua, contends that extending the contract to three years instead of the two currently proposed is exacerbating the deficit.
Adeslas emphasizes that its recommendations are not aimed at generating profit from this agreement nor recovering previous losses, but rather at addressing a pressing financial imbalance that threatens to compound existing deficits moving forward. The company has articulated a clear stance on its position, insisting that without substantial changes to the proposed terms, it cannot continue to engage under the Muface contract.
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