MUSCAT: Health insurance coverage grew a significant 23 per cent to reach a total of 555,000 individuals by the middle of 2023, underscoring the continuing robust growth of this key insurance segment in the Sultanate of Oman.
“This reflects individuals’ interest to get health insurance coverage as a means to enhance the healthcare of citizens and residents in the Sultanate of Oman and to utilize the treatment options offered by private health institutions to deal with illness and sudden injuries,” the Capital Market Authority (CMA), which regulates the insurance industry noted.
To support inclusive insurance, the Authority is championing the introduction of a unified health insurance policy that includes several annexes targeting specific categories of the general population. A unified health insurance policy is now available for employees of the private sector (Omanis and expatriates), while specific coverage has been introduced for domestic workers.
“The main objective of the insurance policy is simplifying access to available health services included in the policy, ensuring quality of services provided by insurance companies and healthcare units and regulating the relationship among the parties of the insurance process including the policyholder. This leads to providing legal protection to all parties and contributes to limiting disputes or abuses affecting either party,” the Authority stated.
Insurance premiums totaled around RO 191 million in 2022 compared to RO 163 million in 2021, underscoring the continuous development of the sector.
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