Daily News Egypt

EGP 9bn cost of comprehensive health insurance next FY: Moait - Daily News Egypt

Advertising Area

Advertising Area

EGP 9bn cost of comprehensive health insurance next FY: Moait

Cost of treating one individual within system EGP 1,400, says El-Garhy

According to the Deputy Minister of Finance for Treasury Affairs Mohamed Moait, the cost of the Comprehensive Health Insurance Law in the first year of its implementation will reach EGP 9bn, according to the actuarial study, and by 2032 will reach EGP 600bn.

Moait added that the general budget during the next fiscal year will bear EGP 3bn for those who suffer from financial issues, in addition to negotiations with the World Bank and France regarding the health insurance.

Nevertheless, he stated that in most United Nations General Assembly meetings, discussing comprehensive health coverage is one of the main topics, dedicating 12 December each year for this purpose.

He added that they would take the serious measures that other countries adopt in providing health coverage through loans, facilities, assistance, and health reform programmes. “[The] World Bank president attended the Tokyo meetings last week which discussed global health coverage and agreed with credit rating agencies to adopt the health coverage hub within the sovereign debt pricing, rating, and classification of countries,” he said.

Moreover, World Bank studies suggest that the existence of a comprehensive health insurance system will help increase economic growth rates by 1.5% on average, as well as linking the existing values to a changing rate of 7%, as the inflation rate for medical equipment is higher than the rate for normal goods and services.

He said the system will be reviewed periodically over a period of three years to ensure sustainability, and in case of deficit, will be returned to parliament to make adjustments either regarding contributions or other sources of contributions.

He added at a press conference at the cabinet, joined by the ministers of finance and health, the president of the Health Insurance Authority, and a representative of the World Health Organisation (WHO) in Cairo, that the government seeks to apply the system in Port Said during its first year and may extend it to other governorates such as Suez and Ismailia.

Parliament approved the Comprehensive Health Insurance Law, which will be applied gradually to all Egyptians in the coming years, according to which, the government will pay contributions to citizens who may not be able secure the financial requirements of the system. The government expects to pay contributions for about one-third of Egyptians.

For his part, Minister of Finance Amr El-Garhy said that the cost of treatment for each individual under the comprehensive health insurance system will reach EGP 1,400 next year, compared to the current EGP 100 cost of treatment now, and will cost about EGP 5,500 by 2032.

El-Garhy pointed out that a joint committee will be formed between the Ministry of Social Solidarity and the Central Agency for Public Mobilisation and Statistics to set the criteria for those deserving of support due to financial issues, as the public treasury would bear their health expenses, with a few exceptions, including new families whose economic situation is unstable or changed.

In a related context, Minister of Health Ahmed Emad El Din said that the ministry seeks to rehabilitate 75% of hospitals in Port Said before July 2018 to include them within the new system.

Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter