English
Dec
15
Maldives Enlists Allied Insurance for Universal Health Insurance
Posted on Dec 15, 2011 by Sergio Ulloa (G+)
The Maldivian government will move forward on plans to engage in a public private partnership with Allied Insurance to provide universal health insurance in the island nation. The government had previously invited insurance companies to draw up plans for providing universal health insurance for the island and submit them to be considered for the partner position. The Maldivian Finance Ministry made the announcement that it was looking for private sector insurers to partner with in late October, prompting Sri Lanka Insurance, Amana Takaful and Allied Insurance to apply. More recently, the Finance Ministry has announced that it will be partnering with Allied Insurance to provide universal health insurance to the populace, as it was the only company to finish the letter of expression. The proposed system for the universal health insurance program is designed to be split 40/60, with the government holding 40 percent ownership in the scheme and the private insurance company, in this case Allied Insurance, holding the remaining 60 percent. The system is supposed to provide a wide array of benefits, including emergency treatments, both inpatient and outpatient treatment, prescribed medicines, therapeutic treatments and emergency evacuations within the Maldives. Also to be included will be overseas cover for any treatments that are not available locally. In fulfilling its roll as the private sector partner, Allied Insurance will be handling billing from healthcare providers, processing claims and raising public awareness. The Maldivian government will pay the premium. The ministry's Director General Saami Ageel said that they were still negotiating the costs of the insurance plan with Allied. There is still much debate surrounding the implementation of the universal health insurance plan, and many things may change before the scheme gets underway. MPs are debating the 100 or so amendments that have been proposed, many of which could have a fundamental impact on how the scheme operates. As the bill currently stands, workers are required to contribute 3.5 percent of their salaries towards the universal health insurance scheme, however, some MPs have already called for the scheme to be compulsory for both locals and expatriates in the Maldives. Other MPs have submitted amendments that would alter the amount of money contributed by the worker and others that would require the employer to contribute as well. Another proposed amendment would see the government pay all costs to cover the entire country under the scheme and do so through money raised by a tax on tobacco products. There are reports that the universal health insurance scheme is supposed to begin being implemented in January of 2012, however this may depend largely on the content and number of amendments that have been proposed to the universal health insurance bill as more material changes to the proposed system may delay the start date. Company Mentioned Allied Insurance Company
The Allied Insurance Company was founded as a joint-venture between the Maldives' State Trading Organization and the Commercial Union Assurance Company of the UK in 1985. In 1987 the STO bought back all shares from Commercial union Assurance and Allied Insurance now offers a wide range of general insurance products and life insurance in the Maldives.