Egypt’s General Authority for Comprehensive Health Insurance (GACHI) enjoys a strong and solid financial position, Minister of Finance Mohamed Maeet said in a statement on Monday.
Its financial performance indices mirror its ability to expand in applying the country’s comprehensive health insurance system in more governorates gradually, said Maeet, who doubles as Chairman of GACHI.
The step came in line with presidential directives to accelerate the pace of work on this national project, aiming to realise the dream of all Egyptians of a good health care system covering all citizens within 10 years.
The minister said that the General Authority for Universal Health Insurance conducts periodic actuarial studies every 4 years, to review financial sustainability and ensure that the system is on the right track.
Maeet added that the last fiscal year’s performance indicators of the comprehensive health insurance system reflected the ability to sustain the successful march in implementing this integrated health system in various governorates according to the scheduled timeframes.
The minister said that the National Project for the Development of the Egyptian Countryside, dubbed ‘Decent Life’, is carrying out a number of health projects across the country’s rural areas.
It is one of the best development programmes in the world according to the United Nations.
Maeet said that the GACHI achieved 36 per cent of annual growth in revenues during the last fiscal year, and a 129 per cent increase in investment returns.
The minister of finance affirmed that the state’s public treasury has contributed up to LE39.3 million for those who cannot afford to participate in the comprehensive health insurance system during the last fiscal year, an increase of 494 per cent.
The state is launching a number of social protection nets for the most vulnerable groups to improve their living conditions, the minister said.
“The system has not set a limit of spending on either healthcare or medical services provided to beneficiaries. The substance of the system is to provide inclusive healthcare while alleviating financial burdens shouldered by the public,” said Maeet. He noted that new medical services will be provided in the coming period under the system, for the beneficiaries in accordance with international accredited standards.
Maeet said that Egypt’s Health Insurance Authority will contract with further healthcare providers from both public and private sectors as well.
