Cost of Health Insurance in Nigeria (2023)
Healthcare insurance is a sort of insurance coverage that takes care of the expense of an insured person’s clinical and medical costs. This cost is contingent upon the kind of medical coverage inclusion, either the person in question pays costs using cash on hand and is then repaid, or the guarantor makes installments directly to the provider.
No matter the type of health plan, a health insurance cost or fee can be paid to the insurance company. If you’re contemplating on how much is the value of this cost, this article will give answers to it, as we highlight the current cost of health insurance in Nigeria today.
Basically, the “insurance provider” is a facility, emergency clinic, specialist, lab, medical care professional, or pharmacy in the health insurance terms. The “insured” is the proprietor of the health insurance strategy; the individual with the medical coverage inclusion.
In countries such as Nigeria, where there is the unavailability of universal health care coverage, the health insurance is commonly included in employer benefit packages. The package is seen as an employment perk. Moreover, the health insurance is also included for other category of people who are in serious health issues.
HOW MUCH DOES HEALTH INSURANCE IN NIGERIA COST?
In certain countries, health insurance coverage is given by the state and is viewed as each resident’s right – it is classed alongside public education, the police, firemen, road lighting, as a piece of a public service to the country. In different nations, health care coverage inclusion is seen to some degree in an unexpected way – except for certain group of people. For example, the older as well as incapacitated individuals, veterans and some others, it is the person’s right to be insured.
Everyone eventually in their life, and frequently on numerous events, will require some sort of medical consideration and treatment. At the point when the medical service is required, the patient ought to have the option to focus on improving, as opposed to contemplating whether he/she has the resources to take care of for all the expenses. With this view of being able to settle for the cost of the medical coverage, it brings about the question of which insurance will cover the situation.
A good number of people will now be inquiring on what amount does Health Insurance cost in Nigeria.
Typically, the cost of a health insurance plan in Nigeria for either parents or their children cost around ₦9,000 for an individual. For private medical care services, singular health insurance plan fee starts from ₦35,000 to ₦220,000 and family plans ranges from ₦125,000 to ₦650,000.
Vital Contributors Social Health Insurance Program (VCSHIP) costs an enrollment expense of ₦15,000 and ₦10,000 per head while National Mobile Health Insurance Program (NMHIP) costs ₦12,000 and ₦9,000 per head.
That’s the view of how much health insurance cost in the country. Nonetheless, it’s important to note that the charges would be renewed every year.
WHAT ARE THE TYPES OF HEALTH INSURANCE IN NIGERIA?
Generally, there are two types of health insurance available to Nigerians. Other kinds of health insurance can be grouped into these two. These major types of Health Insurance in Nigeria includes the following:
As the name implies, the private-owned health insurance is a private provider of health insurance in the country. These organization have diverse health insurance coverage focused at Nigerians who are not covered by the National Health Insurance Scheme (NHIS). These private health insurance providers, be that as it may, need to go through an accreditation process with the National Health Insurance Scheme. Just those that pass the screening will be permitted to work as medical or health insurance provider in the country.
GOVERNMENT-OWNED HEALTH INSURANCE SCHEME
The Government owned health insurance provider is the National Health Insurance Scheme (NHIS), which was set up under the Act 35 of 1999 constitution of the Federal Government of Nigeria. This insurance scheme has branches all over the six geo-political zones of the country. Also, it has a coordinated payment system pointed toward obliging all Nigerians and giving them admittance to appropriate and moderate health care.
Furthermore, both the government-owned (NHIS) and private health insurance providers permit grown-up people to select for any health care insurance plan of their decision, and afterward join to four wards including their spouse. Aside the spouse, children should not be more more than eighteen years old. When an enlisted subordinate turns eighteen, the person in question should split away and register independently.
HEALTH INSURANCE PLANS/PACKAGES THAT ARE AVAILABLE IN NIGERIA
Basically, Health Insurance plans are a group of characterized medical service benefits offered to the enrollee of the insurance program at a premium payable as concurred by the parties involved. Enrollees are given an identity card upon enlistment, which will be mentioned each time you visit your picked health care provider. There are a few health insurance plans and packages to suit various classes of individuals in the Nigerian society. The following will be the outline of these health insurance plans that are available in the country.
MOBILE PHONE BASED HEALTH INSURANCE PLAN
In an offer to meet up with the country’s growing population and their health needs, mobile network providers have teamed up with health insurance agencies to make medical and health insurance moderate and swift for all. With this system, Nigerians would now be able to get to pre-characterized medical services with a premium of just ₦250 consistently, amounting to ₦1,000 month to month and ₦12,000 yearly.
Intending clients can easily join this plan through their cell phone, and you will have a norm and helpful insurance cover on a prepaid premise. In the wake of enrolling, you’ll be permitted to pick your preferred health management organization and retainer hospital.
OUT-OF-POCKET HEALTH INSURANCE PLAN
This is a cash based Health Insurance plan that conveys medical care services to a person upon the payment of a agreed single amount. This is an insurance plan where you pay for the health services from your own pocket in a single amount immediately. This plan is extravagant and the primary driver of people evading the use of emergency hospitals and depending on elective medicines elsewhere.
HEALTH MANAGEMENT ORGANIZATION (HMO) HEALTH INSURANCE PLAN
A health management organization is a private joined organization enrolled by the National Health Insurance Scheme only to deal with the plan of health care services through medical care offices licensed by the Scheme. You can take a look at the top 10 HMO’s in Nigeria and decide which one suits your needs.
We have been able to highlight the cost of health insurance in Nigeria. We also dealt on types of health insurance on Nigeria; the health insurance plans/packages that are available in the country, still featured in this article.