SAUDI ARABIA — Saudi Arabia has launched a new health insurance program for foreign tourists, capping coverage at SR100,000 (US$ 26660), ensuring that visitors have access to essential emergency health services while in the Kingdom.
The initiative, approved by the Saudi Council of Health Insurance, is designed to provide crucial support to tourists in case of medical emergencies during their stay, according to well-informed sources.
Under this insurance policy, the services and expenses covered are outlined, with reimbursements corresponding to the actual costs of necessary medical services, treatments, medications, and equipment.
These reimbursed services are strictly limited to those prescribed by licensed physicians to address illnesses experienced by insured tourists.
Health insurance is a critical type of coverage that periodically charges a premium from policyholders and pays for medical and surgical expenses incurred during a medical emergency.
An efficient health insurance plan encompasses services such as diagnosis and treatment for chronic illnesses, psychiatric care, emergency evacuation and transportation, in-patient and out-patient treatment, maternity care, dental care, and more.
Key health insurance providers in Saudi Arabia include Bupa Saudi Arabia, Tawuniya, and MedGulf Arabia.
The latest figures reveal that the number of Saudis enrolling in health insurance schemes reached 11.46 million in the second quarter of 2023, marking a 5 percent increase compared to the same period the previous year.
The Council of Health Insurance’s quarterly report indicates that the number of beneficiaries is expected to reach 90 percent of the population this year, up from 73 percent in 2021 and 85 percent in 2022.
This growth is anticipated to be driven by robust tourism and the influx of pilgrims and Umrah performers.
The spokesperson for the industry regulator, Nasser Al-Juhani, explained that digital transformation plays a central role in Saudi Arabia’s healthcare evolution, with the implementation of the National Platform for Healthcare Information Exchange Services being a prime example.
Launched in April 2022, this platform aims to unify patient care records for healthcare providers and optimize insurance services. Al-Juhani noted that the platform has already processed around 150 million transactions since its inception.
The insurance sector demonstrated significant growth in 2022, with a 26.9 percent increase compared to the 8.4 percent rise in 2021, reflecting the Kingdom’s efforts to develop the industry.
The total written premium in 2022 reached SR53 billion (US$14.1 billion), up from SR42 billion (US$ 11.2 billion) in the previous year, according to the 16th annual report on the insurance market released by the Saudi Central Bank (SAMA).
Health insurance, still the largest line of business, witnessed a remarkable growth rate of 26.8 percent, while protection and savings insurance, the smallest line of business, decreased from 4.1 percent in 2021 to 3.5 percent in the following year.
The positive trajectory of the industry demonstrates SAMA’s commitment to enhancing the sector’s efficiency and economic impact through significant regulatory developments.
Tourists under the new health insurance policy will have coverage for various emergency scenarios, including hospitalization, medical consultations, diagnostic services, treatments, prescribed medications, dental emergencies, medical evacuations within and outside Saudi borders, cases related to pregnancy and childbirth.
Additionally, the coverage also extends to traffic accident injuries, emergency dialysis, and the repatriation of deceased visitors.
To secure health insurance, tourists can visit the official Arabic platform for visa issuance and complete the tourist visa application form.
The health insurance takes effect upon the issuance of the tourist visa, granting access to emergency health services provided by a network sanctioned by the Council of Health Insurance.
This network covers various regions within the Kingdom, ensuring accessible care for tourists wherever they may be.
The Saudi Arabia health insurance market is growing rapidly, reaching US$7.0 billion in 2022. Looking ahead, IMARC Group predicts that the market will reach US$10.0 billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.
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