Oman has seen the number of people with health insurance jump by more than 20%, according to latest figures from the Sultanate’s Capital Market Authority (CMA).
Health insurance coverage in Oman grew by 23% to reach a total of 555,000 people by the middle of 2023 compared to the same period in the previous year, the CMA said.
Situated between Yemen and the UAE and bordering Saudi Arabia, Oman has a population of about 3.8 million people. Omani citizens represent about 56.4% of the population.
Oman has a unified health insurance policy for employees of the private sector (Omanis and expatriates) in addition to a specific coverage for domestic workers.
The CMA said the growth in the health insurance sector “reflects individuals’ interest to get health insurance coverage as a means to enhance healthcare of citizens and residents in the Sultanate of Oman and to utilise the treatment options offered by private health institutions to deal with illness and sudden injuries.
“This also reflects the institutions’ efforts to add a competitive value for employees through offering health insurance.
“The last is important to ensuring wellbeing of employees and developing a sense of belonging to the institution.”
The CMA also said: “The main objective of the insurance policy is simplifying access to available health services included in the policy, ensuring quality of services provided by insurance companies and healthcare units and regulating the relationship among the parties of the insurance process including the policyholder.
“This leads to providing legal protection to all parties and contributes to limiting disputes or abuses affecting either party.”
Insurance premiums have also been growing.
While figures for 2023 were not available, insurance premiums reached RO 191 million in 2022 compared to RO 163 million in 2021.
The CMA said this “indicates continuous development of the sector”.