SECP proposes mandatory health insurance for private sector employees

ISLAMABAD, June 15: As part of the reforms relating to the development of the insurance market, the SECP has recommended to the federal government to introduce mandatory health insurance for the private sector employees.

The SECP has recommended to introduce compulsory occupational health insurance scheme by amending the 1968 West Pakistan Industrial and Commercial Employment (Standing Orders) Ordinance (and its provincial counterparts). This recommendation is aimed at covering full-time workers, including permanent, contract, and temporary workers and their dependents. The cost of the scheme is nominal and will be borne by the employers. The hospitalization benefit to each employee and their dependents is proposed to be provided on a cashless basis for network hospitals and on a reimbursement basis in case of out of network hospitals.