Saudi Arabia – Insurance prices left to supply and demand
Friday, 10 09 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
An informed source from the Council of Cooperative Health Insurance revealed to the “Okaz Newspaper” that the council refused to decrease the quality of services which are to be offered by insurance companies according to the health insurance policy approved by the council. He added that “that there is a minimum health insurance coverage and a package of benefits that insurance companies cannot avoid by offering lower benefits as the mentioned uniform policy has to be met”.
About the prices of health insurance imposed on the insured and related regulatory action, the source mentioned that prices are left to supply and demand. However, if there are remarks, abuses, or frauds anybody can file a complaint against insurance companies or the providers of health care services as well as the employer who is responsible about insuring his employees. Complaints can also be filed against the Council of Cooperative Health Insurance also.
Source: Okaz Newspaper