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Health Insurance in Saudi Arabia: Critical Things You Need to Know in 2022

Insurance in Saudi Arabia—Moving to a foreign country is difficult enough without having to worry about how you’ll get medical treatment there. In Saudi Arabia, health insurance is required, widely available, and straightforward. So, read up on Saudi Arabian health insurance to give yourself some peace of mind. Expats and residents of Saudi Arabia used to have the same access to free medical care. Because of this, the government decided to alter the regulations, and Saudi nationals are the only ones who can access it for free presently.

For their residency visa to be approved, expatriates must provide proof of health insurance because public healthcare no longer covers foreigners. Hospitals of all kinds, including those run by the government, are available in the Kingdom. On the other hand, most expats will only go to private hospitals and clinics.

All residents of Saudi Arabia are required to have medical insurance. Workers and their families are included in this category as employers and staff. Any foreigners who wish to relocate to Saudi Arabia are also included. Without proof of insurance, expats will not obtain a work or residency permit. All inhabitants of Saudi Arabia are covered with free state health care. As a result, they can take advantage of a broader range of treatment options, such as inpatient and outpatient facilities. Dental, pharmacy and rehabilitation facilities are also included in this list. Expats in the Kingdom, on the other hand, are unable to make use of these amenities.

Private Health Insurance in Saudi Arabia

Private health insurance is a requirement for expats in Saudi Arabia. As part of your compensation, you’ll receive health insurance from your company. The amount of coverage you’ll get may depend on the type of policy you have. So, check over your policy with a fine-tooth comb before signing it. Keep in mind the kind of health insurance you require.

Is a trip to the dentist on the agenda? What are maternity expenses covered by insurance? What are your responsibilities in terms of contributing? Is there a hospital or clinic that you can go to? All of these things need to be taken into account. Also, bear in mind that the cost of an insurance policy can vary widely, which means that hospitals and clinics may not accept less expensive options with a better reputation.

That being said, if your employer’s insurance is insufficient, you can always supplement it with additional coverage. In other words, you’ll be able to pay for items like a contact lens stipend or supplementary private coverage for chiropractic procedures. However, you may be able to get additional private insurance as part of your benefits package as well.

Some advantages can be gained by obtaining supplemental private insurance. This could include high-quality dental care or access to the Kingdom’s finest facilities. It’s possible to acquire insurance that provides for evacuation coverage in the event of a civil disturbance. So, think about what you and your family need and see if the insurance provided by your company satisfies those needs. Begin looking into alternative forms of coverage if necessary.

In most cases, health insurance supplied by employers is based on a co-payment basis. As a result, even if you have health insurance, you’ll almost certainly have to foot some of the bills. Check your insurance coverage to see what you’re accountable for and under what conditions you’re responsible. Keep in mind that the insurance provided by many employers may only cover the bare necessities. Due to the high cost of specialized care, you may be required to pay out-of-pocket expenses. Insurance costs in the Kingdom are competitive, with policies costing less than $2,000 a year available.

Your company will most likely provide your insurance if you’re an expat. However, this implies that you won’t have a lot of options when it comes to your primary insurance. Even so, you might be able to work out a better insurance deal with your employer.

Be sure to shop around for the best value if you decide to take out an additional, top-up private insurance premium. Make sure that you and your family’s medical needs are covered by the plan you choose. See what your employer’s insurance and any supplementary private insurance (if any) covers to obtain the most outstanding picture of what you’ll pay. Using this method, you’ll be able to estimate your charges better.

No of how they earn their living, all Saudi citizens have access to free public healthcare. Expats, on the other hand, have a unique set of challenges. That’s because your family’s income is related to the one who works. Your employer must present proof of your work and your health insurance package to obtain a residence permit. Your insurance policy then covers your spouse and children. Your health insurance and ability to stay in the country are immediately terminated if your employer terminates your employment. It’s time to leave the Kingdom for good.

Mandatory health insurance is not required for low-earning expatriate domestic employees. As an alternative, their sponsors foot the bill for their medical care, either by enrolling them in a Health Center or paying for any therapies they may need.

Digital Transformation of Insurance in Saudi Arabia

Insurance businesses might benefit from digital transformation,” a top KMPG official in Saudi Arabia remarked, citing the sector’s recent successes.

Written premiums totaled SR31.81 billion ($84.79 billion) at the end of Q3 last year, according to the “The Pulse of the Insurance Sector” study compiled by 28 Saudi companies.

Compared to the same period in 2020, it increases by 7.7 percent. That year saw numerous changes across various consumer industries in the region and beyond.

According to Uwais Shehab, the Head of Financial Services at KPMG Saudi Arabia, it is becoming increasingly vital for insurance businesses to explore adopting data analysis, artificial intelligence, and other digital transformation methods to remain competitive.

The Kingdom’s insurance sector grew by 79 percent and 81 percent in the automotive and medical sectors, respectively, contributing the most to gross written premiums.

There was a 5.4 percent rise in total assets to SR68.03 billion ($1813 billion), a 4.9 percent rise in total equity, and a 62.6 percent drop in the sector’s net earnings from the third quarter of 2020 to the third quarter of 202.

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