People in Myanmar to get access to health insurance next year

Photo shows the Myanmar Insurance Building in Yangon. Plans are underway to introduce two new products, health insurance and weather index insurance, in Myanmar next year vthe company said.  Photo: Ye Myint
Photo shows the Myanmar Insurance Building in Yangon. Plans are underway to introduce two new products, health insurance and weather index insurance, in Myanmar next year vthe company said.
Photo: Ye Myint

Yangon, 4 Nov— Myanmar Insurance plans to launch a new health insurance produce as of 1 April next year, enabling Myanmar people to get benefits from it first health insurance service in the country.
Following credit guarantee insurance that Myanmar Insurance launched last July, health insurance will be its second new product before the launch of weather index insurance as its third new product.
“I can say exactly that health insurance will go on sale on 1 April in 2015,” Managing Director U Aye Min Thein of Myanmar Insurance said.
He made the comment while giving a brief interview to some local media including The Global New Light of Myanmar during the ASEAN Financial Inclusion Conference that Myanmar recently hosted recently in Yangon.
“We are in discussion with those concerned from nine foreign insurance companies, the Health Department, private clinics and hospitals and the Social Welfare Department,” U Aye Min Thein, who is also the secretary of the Insurance Business Supervisory Board, said, adding weather index insurance will also come next year.
Discussions are underway to set premiums and compensation levels, he said.
“We have not yet decided whether to set a premium of K 50, 000 or 60, 000, for example, and to provide health insurance holders who have to go to hospital for receiving treatment or undergoing surgery with compensation of K 10, 000 or 15,000 a day,” he said.
He added the health insurance system will run in Yangon first as a pilot project and that private companies will be allowed to operate the service.
So far seven types of insurance have been allowed to 12 private companies to operate in Myanmar. — GNLM

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