October 22, 2017

Health insurance set to begin next year with premium rate of K50,000 per unit

Photo of a pregnant woman having a thorough examination by a doctor at a local health centre in Myanmar where a health coverage plan is set to come next year.—Photo: Ye Myint
Photo of a pregnant woman having a thorough examination by a doctor at a local health centre in Myanmar where a health coverage plan is set to come next year.—PHOTO: YE MYINT

As of early next year, people in Myanmar will be able to enjoy health coverage which is set K50,000 per unit for a year, said Myanmar Insurance.
Regarding premium and compensation set for the country’s first health insurance service, MI said those interested will be allowed to purchase up to five units and those insured will be eligible for compensation of K15,000 a day for 30 days while receiving treatment or undergoing surgery at hospital during the coverage period of one year.
According to the plan, families of insurance holders who died in hospital can receive K1 million in compensation, but compensation of K15,000 given for the number of days that patients spent in hospital will be deducted from compensation of K1 million paid to families of the deceased. Before enrolling in the healthcare coverage, buyers must reveal to the insurers information about their health.
Myanmar Insurance, the state-owned insurer founded in 1952, is now operating 41 types of insurance, enabling Myanmar people to get benefits from its various services. Following credit guarantee insurance that MI launched last July, health insurance will be its second new product before the launch of planned weather index insurance as its third new service.–GNLM

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