Saudi Shura Council calls for health ins. for private sector retirees
Thursday, 09 10 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The Saudi Shura (Consultative) Council has recommended the General Organisation for Social Insurance study various alternatives to facilitate private sector retirees’ access to health insurance, local media reported.
The Financial Committee of the House said in its report, set to be discussed next week, that employees in the private sector often get health insurance for themselves and their families, but after retirement this benefit is lost. This makes the high cost of treatment and the difficulty of accessing health care a major burden.
The committee argued the pressure from retirees on Ministry of Health hospitals is increasing, making cooperation from the Organisation for Social Insurance important. It said there are a number of alternatives that the corporation can study to reach a solution that guarantees the continuity of health insurance for retirees and takes into account the financial solvency of the institution.
The committee suggested a group of insurance companies reach an agreement to provide insurance policies at competitive prices due to the large number of retirees. It saidthe Organisation for Social Insurance should help retiree s bear the cost of policies, with participation optional and multiple alternatives in terms of coverage.