Saudi Arabia Health Insurance Market Size 2020, Industry Trends, Top Key Players, Share, Demand, Opportunities And Forecasts To 2025 - IMARC Group

The Saudi Arabia health insurance market was worth US$ 5.68 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Health insurance is a type of insurance product that covers the expenses of surgical, medical and sometimes dental procedures. It reimburses the costs incurred by the insured individual during the treatment of the illness or injury. In Saudi Arabia, all citizens and expatriates are required to have health coverage. Typically, health insurance is included in employer benefit packages where the premiums are partially compensated by the employer, while the rest is deducted from the salary of the employee. The benefits received from the health insurance are tax-free.

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Market Trends

The Government of the Kingdom of Saudi Arabia (KSA) has been actively taking steps to explore the involvement of the private sector in the evolution of healthcare infrastructure. In line with this, it has extended the Mandatory Health Insurance (MHI) plan to private sector employees. Besides this, the Council of Cooperative Health Insurance (CCHI), an independent Government body, has recently mandated health insurance for tourists in the Kingdom of Saudi Arabia. The policy entails that the insurance will cover the maximum limit of US$ 26,666. It includes a package of benefits, such as emergency treatment, childbirth, traffic accident injury, medical tests, hospitalization, and medical evacuation both outside and within Saudi Arabia.

View Report TOC, Figures and Tables: https://www.imarcgroup.com/saudi-arabia-health-insurance-market

Market Segmentation

Market Breakup by Type

1. Individual
2. Group

Market Breakup by Service Provider

1. Public
2. Private

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