CMA discusses health insurance scheme with Omani contractors

January 24, 2019

The Capital Market Authority (CMA) held a meeting with representatives of the Omani Contractors Association to review main features of the proposed health insurance scheme for private sector employees.

The proposed health insurance scheme for private sector employees, expatriates and visitors in Oman will be implemented in collaboration with the concerned entities, according to a press statement issued by the CMA.

The meeting discussed proposed implementation phases for the health insurance scheme and reviewed key steps taken by the CMA in collaboration with other entities for the implementation of the scheme. It also discussed the identification of best methods for the implementation of health insurance scheme in construction sector and its benefits for construction sector employees.

The CMA, which regulates the insurance sector in Oman, emphasised on the implementation of unified health insurance policy which covers basic healthcare for private sector employees and other categories targeted by the scheme.

The CMA statement said that health insurance segment is witnessing significant growth in Oman, thanks to the growing awareness about its importance in mitigating the burden of treatment in case of injury or disease. It said, as per the unaudited figures for 2018, the share of health insurance in Oman's total insurance premiums reached to 33 per cent last year.