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Why you need private medical cover, besides State-mandated SHA
By paying a relatively affordable health insurance premium each year, you can beat the burden of medical inflation while opting for quality treatment, without worrying about how much it will cost you.
For most Kenyans, medical bills fundraising groups are a common feature in their WhatsApp groups. And if they are not using the chat app, they are stumbling upon posts asking for contributions to paybills for a needy case here or an emergency there.
As Africans, we believe in coming to the help of those in need. In Kenya in particular, we have the spirit of Harambee where we are always ready to come together to help those facing a pressing issue.
However, our health is a matter of life and death and woe unto us if our lives depend on uncertain contributions to stay alive.
Currently, the economic situation in the country is tough. Increasing taxes and shrinking earnings coupled with rising inflation, mean that Kenyans have little to spare to make contributions toward thier own medical bills leave alone other people's.
Yet unlike other goods and services, where people can adjust spending to balance their budgets, health matters do not afford us the luxury of deciding what to spend to stay healthy. No one plans to get sick or injured, but most people need medical care at some point, and this is where a robust health insurance scheme comes in to cover these unexpected costs and offer many other important benefits.
It is common to hear that majority of Kenyans are one medical bill away from slipping into poverty. Health insurance ensures that people are protected against unforeseen health care expenditures and is a key component of financial protection.
The government, in a bid to provide Kenyans with Universal Health Coverage (UHC), transitioned from the former National Hospital Insurance Fund (NHIF) to the Social Health Authority (SHA). Under this framework, all Kenyan residents are required to register with SHA.
Salaried individuals contribute 2.75 percent of their gross income monthly, while non-salaried contributors pay 2.75 percent of their annual household income, subject to a minimum contribution of Sh300 per month.
To supplement the government’s efforts to provide healthcare, it is important for people to consider having a reliable, robust and effective health insurance scheme. Private health insurance represents an important additional pillar alongside the protections provided by the State.
It is said that you cannot fight a new malady with old remedies. As medical technology improves and diseases increase, the cost for treatment rises as well.
The costs for doctor's consultation, diagnostic tests, ambulance charges, operation theatre costs, medicines and admission charges are also continually increasing, and all these could put a considerable strain on your finances if you are not adequately prepared.
By paying a relatively affordable health insurance premium each year, you can beat the burden of medical inflation while opting for quality treatment, without worrying about how much it will cost you.
By buying a suitable health insurance policy, you can better manage your medical expenditure without dipping into your savings. Your savings can be used for their intended plans, such as buying a home, your child's education and retirement.
Enrollment into a reliable health insurance scheme supports the health and well-being of individuals and communities by improving access to quality care to support positive health outcomes. Above all, it reduces financial strain on individuals, families and communities.
The perception that private medical insurance is expensive may not be accurate, as there are a number of very affordable healthcare plans in the insurance industry in Kenya.
Even though individuals can get their own health insurance plans, it is important for employer groups such as corporates, NGOs and institutions to consider extending health insurance cover to their employees.
This is because through such an incentive, employees can reduce absenteeism, reduce their stress levels and attain a work-life balance which is a win for all parties.
The writer is the General Manager, Health Business at Heritage Insurance
