Penetration of
Mandatory Health Insurance in GCC
As the healthcare
costs rise in tandem with the population growth, most of the GCC governments
are introducing mandatory health insurance.
The rollout of such schemes is likely
to reduce the burden of healthcare costs on the government as well as the
out-of pocket expenditure of the residents. Expatriates, who currently seek
medical services in their home countries due to the high cost in the GCC, are
particularly expected to benefit from the introduction of such schemes.
The
health insurance gross written premium (GWP) in Saudi Arabia, the first country
in the GCC region to make health insurance mandatory for expatriates in 2006,
grew by ~22% y-o-y and represented 52% of its overall insurance market in
201444. Kuwait, Bahrain, and Abu Dhabi have also laid down insurance schemes
for expatriates.
Qatar and Dubai are implementing mandatory health insurance in
a phased manner, with Oman also in the process of following suit. The gradual
expansion of medical insurance coverage across the GCC is likely to boost the
overall healthcare spending
Alpen
capital report GCC Healthcare Industry February 16, 2016
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