Saudi Arabia kicks off second phase of health insurance scheme

Saudi Arabia’s insurance regulator, the Council for Cooperative Insurance, started Monday to apply the second phase of the unified health insurance, which covers companies employing between 50 to 99 people.

The first phase was implemented in July and included companies employing 100 people and above. Smaller companies will be covered by the program in two more phases by April 10, 2017.

The council’s spokesman Yasser al-Ma’arek said the council was talking to healthcare providers so that those insured can get coverage using their personal identification card, and not a health insurance card.

The insurance covers all family members of the insured employee. Employers who ignore such rules will be penalized, according to the council.

Saudi Arabia's insurance market is the second-fastest growing in the Gulf Cooperation Council (GCC) and has good potential for further gains, Moody's Investors Service said in a report.

Health insurance premiums in the Saudi market grew by 20 percent last year to reach SAR18.96 billion, according to an Argaam report.