Aon Hewitt Cyprus will carry out an actuary study that will serve as a basis for Egypt’s national health insurance scheme after it signed a contract with the country’s finance ministry, the company said.
“The proposed health insurance scheme aims at creating a system that will offer medical care to the entire population of Egypt,” Aon Hewitt Cyprus said. “The current system only covers 50 per cent of its population while patients cover expenses that account for 60 per cent of all health expenditure in the country”.
Aon Hewitt will also look into the new systems financing needs as well as its impact on the Arab country’s public finances and will also train an actuary team at Egypt’s finance ministry.
“Aon Hewitt has achieved high growth rates in Middle East countries in recent years and is one of the main actuary services providers to social security systems, including pensions and healthcare, and advisory services to companies in the wider area,” Philippos Mannaris, director of Aon Hewitt in Nicosia and manager of the Egypt project said adding that the agreed cooperation reflects the company’s high standard of services. “It is a specially demanding project requiring expert knowhow in the area of healthcare as well as in the area of setting up complicate actuary models that help estimate cost development in each healthcare area, including hospitalisation, pharmaceuticals, doctors, diagnoses etc., the system’s revenue estimation and its long-term viability”.
The company, part of the London-based Aon Hewitt, said that it also carried out actuary studies for the social security systems of Saudi Arabia, Bahrain and Egypt in the past.