Cooperative Health Insurance Fund Achieves Financial Security and Covers Case Expenses Exceeding SAR 500,000 : 99.4% of Private Sector Enterprises will Benefit from Cooperative Health Insurance Fund


The spokesperson for the Council of Cooperative Health Insurance (CCHI), Yasser Al-Ma'arak, said that the Cooperative Health Insurance Fund, whose operational plan has been approved recently and to be launched at the end of this year, will have a significant impact on the private health insurance sector. Especially on the insured that have depleted the limit of health insurance policy coverage which is SAR 500,000.  

Al-Ma'arak pointed out that the program of the Fund achieves many strategic objectives for the CCHI, including the enablement of the target groups of insured to have full coverage and protection, enabling health insurance companies and healthcare service providers to raise their service levels for beneficiaries in presence of advanced regulations and policies, and improving the sector's sustainability and innovation.

He indicated that the CCHI will finance the Fund in its first stage until the financing options are reviewed in the following stages as its regulations and system will be launched at the end of this year (2020).

Al-Ma'arak enumerated the impacts resulting from operating the Fund, as it will carry a heavy burden on the private sector by paying treatment expenses for cases whose costs exceed the maximum limit of the insurance policy, especially SMEs that represent 99.4% of the total sector. Considering that, the Fund will reduce the financial risks to these companies and increase the affordability of health insurance for employers.

He also pointed out that nearly 60% of the workforce in the private sector will benefit from the services of this Fund.​

Last Update : 23/07/2020 01:05 م