Egypt has appointed Hossam Fouad Sadek as executive director of the General Authority for Comprehensive Health Insurance, the finance ministry said in a statement on Wednesday.
Hossam Fouad Sadek, executive director of the General Authority for Comprehensive Health Insurance
In February 2019, the General Authority for Comprehensive Health Insurance was formed to carry out the country’s new comprehensive health insurance system. The new system is designed to meet the needs of all citizens, whether they are public or private-sector employees, seasonal or permanent workers, men or women, child or adults.
Sadek, who will take office next February, has more than 23 years of experience in the insurance, information technology, and business development sectors. He served some leading positions in Allianz, ITWorx, and Global Knowledge.
In November, Minister of Finance Mohamed Maait said the new comprehensive health insurance system meets the needs of the Egyptian people for a better medical service as it covers the entire family treatment over an estimated period of time.
“The average cost of treatment per person is 2,100 Egyptian pounds ($132.42), and if we cover the 100 million citizens, we will need 210 billion pounds. Hence, we are gradually applying the system.” Maait added.
The average cost per person in the comprehensive health insurance system at the end of the next 15 years will reach 6,000 pounds per person, the minister said. This means that the cost of comprehensive health insurance for all citizens will reach 600 billion pounds.
The new system will be financed through the contributions of citizens, which represents 30 to 40 percent, and additional resources represented in the taxes on tobacco and cigarettes as well as the contribution of the State Treasury.
