Ministry of Finance to receive outcome of actuarial study on Universal Healthcare Act in March
Ministry of Finance’s actuarial study, conducted by global consulting house, AON Hewitt, to decide on the financial resource requirement for the Universal Healthcare Act, is expected to complete in March 2017, according to Deputy Finance Minister Mohamed Maait. The study would cover the expected cost and resources needed and should help the government choose the most efficient mechanism to implement the universal healthcare system which should cover all Egyptians. The draft is completed by the ministries of Health and Population and Finance, and is currently being discussed by Cabinet before being presented to Parliament within the coming few months. The act aims at easing pressure on healthcare spending for citizens; c60% of healthcare spending is out-of-pocket. The act should be in delay of the earlier announced schedule of 1H17, as the bill is not expected to be presented to Parliament before June 2017, according to Parliament sources, where Minster of Health and Population said he expects implementation of universal healthcare law by 2H17. Parliament sources clarified that current inflationary environment would imply that the cost of implementing the act would now cost between EGP130-140bn vs. the EGP90bn earlier estimate by Ministry of finance.
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