Saudi Arabia’s insurance sector is set for changes in 2011 with the implementation of a law mandating health insurance for all private sector employees.
While just one aspect of the rapid pace of change in the sector, the expansion is likely to create a deeper and wider presence for insurers in the Kingdom, Oxford Business Group (OBG) said as reported by Global Arab Network.
The Council of Cooperative Health Insurance (CCHI) said in its research that the implementation of medical insurance for more and more Saudis has the potential to reshape the market for health care in the Kingdom.
The Ministry of Health is receiving more requests to build hospitals from communities across the country, and more interest in increased utilization of existing facilities, Dr. Abdullah Al Sharif, secretary-general of the CCHI, said.
Private companies are seeking to establish relationships with government hospitals. “The very promising health insurance sector represents one of the most important factors affecting the method and cost of health care services presented for Saudis working in the private sector and expats.”
Saudi Gazette