Saudi Arabia: Consultative panel calls for health insurance for retired expats
Source: Middle East Insurance Review | Oct 2020
The Saudi Shura (Consultative) Council has recommended the General Organization for Social Insurance (GOSI) study various alternatives to facilitate private sector retirees’ access to health insurance.
The committee suggested that a group of insurance companies reach an agreement to provide insurance policies at competitive prices due to the large number of retirees, according to a report in Gulf News. It said the GOSI should help retirees bear the cost of insurance policies, with participation optional and multiple alternatives in terms of coverage.
The Finance Committee of the House said in its report 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 medical treatment and the difficulty of accessing healthcare a major burden.
The committee argued the pressure from retirees on Ministry of Health hospitals is increasing, making cooperation from the GOSI important. It said there are 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. M