Back to the complete issue
Thursday, 5 April 2018

Executive regs of the Universal Healthcare Act will make clear the insurance sector’s role in new system

LEGISLATION WATCH- The executive regulations of the Universal Healthcare Act will make clear how private-sector insurance players will fit into the new healthcare system, including prices and coverage rates, Vice Minister of Finance Mohamed Maait said, according to Al Mal. Under the law, private-sector insurers will be able to provide coverage through the new healthcare system and share those costs with the government at rates and prices set by the Social Healthcare Insurance Authority — one of the three regulators mandated by the law. Maait said the prices will be close to the average prices in the market. His statement came during meetings held this week with private insurers to discuss their role in the new system. Some, including Egypt Life Takaful Company (GIG) and Libano Suisse, have complained that it wasn’t clear how the private sector fit into the new system.

The executive regulations will be ready in two months, Maait revealed, according to the newspaper. Last we heard, the regs had been drafted and are with the Council of State (Maglis El Dawla) for review.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.