THE Pension Insurance Authority (PIA) is in the process of regulating health insurance laws because of the importance of health financing, says deputy registrar Titus Nkwale.
Mr Nkwale said Government was undertaking the general pension and social security reforms which had a proposed national social health insurance scheme.
He was speaking during the signing of a memorandum of understanding (MoU) between Professional Life Assurance and Radisson Blu Hotel which allowed its customers have 30 percent discount of the hotel services using a promed card.
A promed card is a professional life assurance medical scheme which allowed over 150 health care providers in Zambia and also facilitates for evacuation worldwide
The partnership also allowed Radisson Blu’s services to be taken closer to Professional Assurance customers by offering various discounts of up to 30 percent using a promed card.
Nkwale said the PIA appreciated the recognized the partnership between the two institutions.
He said the importance of health financing could not be overemphasised and that was why PIA was in the process of regulating health insurance laws.
Mr Nkwale said Government intended to run the social health insurance as a no-profit making.
“This scheme has worked all over Africa, professional assurance and other insurance companies should not look at this as a business threat but turn it into an opportunity especially through public private partnerships,” he said.
He said the health insurance would continue to be provided by long-term insurance companies licensed by the PIA.
Mr Nkwale also said the proposed microeconomic insurance (MI) regulations would inimitably create two segments in the health insurance; one that would be dimed as health micro insurance while the other would be conventional insurance
“That is coming and microeconomics regulations are going round consulting within stakeholders and PIA is ready to ensure that they become law,” he said.
And Professional Life Assurance managing director Rajagopal Krishnaswamy said his company was pursuing partnerships which added value to its clients.
Mr Krishnaswamy said the partnership would not only allow clients to use the promed card when unwell but also during leisure time.
“This partnership will enable our customers having an active promed card enjoy discounts while accessing the hospitality services here at Radisson Blu. These discounts are also extended to Dejulies Hair salon and Azuri Spa,” he said.
He said that medical insurance was a primary employee benefit which formed part of any compensation package.
Mr Krishnaswamy implored other employers to offer the medical insurance to their employees and dependents.