By Ronald Adom OPPONG
Private Health Insurance is a legally approved channel for financing healthcare in Ghana in addition to the National Health Insurance Scheme (NHIS) in Ghana’s quest to achieve universal health coverage.
Ghana’s private health insurance sector provides coverage to about 2% of the population via 16 licenced companies across two thousand service provision points in the 16 administrative regions.
Private health insurance in Ghana has existed for almost two decades and is coordinated through, the Private Health Insurers Association – Ghana (PHIA-G), the certified trade organization of the industry.
Private health Insurance in Ghana provides coverage for about 99% disease burdens in Ghana including non-communicable disease such as cancers, hypertension, diabetes, as well as common malarias, respiratory infections, HIV/AIDS, typhoid, and hepatitis B, among others. Coverage is predominantly available to employees of corporates and SMEs; families as well as organised groupings.
The 5-point advantage why you need private health insurance
Firstly, healthcare cost across the globe is rising due to varied reasons such as increased demand for medical care, rising medication prices, and the introduction of new, often expensive, technologies and procedures.
Private health insurance in Ghana provides extensive coverage through curated plans to mitigate these cost impacts from premiums as low as GHS 3,000 per annum. These curated plans offer expansive outpatient and inpatient care with ancillary care such as optical and dental services.
Secondly, most private health insurance carriers in Ghana offer convenience care solutions such as telemedicine and medicine deliveries through negotiated partnerships. Clients have the option to remotely connect with caregivers increasing access via telecommunication technologies as well as receiving chronic medication refills in the comfort of their homes and offices.
Further, cashless hospitalizations are provided by all carriers. This implies that health insurance companies settle the medical bills with the hospitals directly, as opposed to the patient paying out of pocket and then requesting reimbursement. This feature relieves the burden of finding treatment funding at crucial moments such as emergencies.
Thirdly, mental health is crucial to total well-being, though it is often overlooked. Most private health insurance carriers in Ghana provide coverage for mental health treatments, including therapy sessions and consultations with psychologists and psychiatrists, to manage illnesses like depression, anxiety, and stress and to encourage a healthier, more balanced lifestyle.
Private health insurance in Ghana equally offer organizations and families the ability to share risk among the population so as to avoid catastrophic health care expenditure and impoverishment of care-seeking individuals.
Wellness programmes are a common feature of health insurance plans in Ghana. They aim to encourage better living such as annual basic health checks; gym subscriptions and dietary advice.
These programmes assist policyholders in improving their general health by promoting healthier lifestyle choices, which may result in fewer medical visits and cheaper healthcare expenses ensuring peace of mind.
This psychological comfort is priceless because it improves general health and quality of life. Policyholders are afforded the opportunity to concentrate on living their lives without having to worry about financial hardship from health difficulties because their health insurance policies protect them against unanticipated medical bills.
Research consistently shows that health insurance coverage is associated with improved health outcomes. For instance, early detection and treatment of chronic conditions such diabetes and cardiovascular disease can significantly improve diagnosis and quality of life. Studies have found that coverage expansion is linked to decreases in mortality rates. People with private health insurance are more likely to therefore:
- Receive early diagnosis and treatment for conditions
- Have better management of chronic diseases
- Experience lower rates of depression
- Report a greater sense of overall well-being
Conclusion
Private health insurance is more than just a policy; the advantages extend far beyond simply covering medical expenses; it is a crucial component of a secure and healthy life. When more people have private health insurance, organizations and families become healthier, healthcare systems function more efficiently, and local economies strengthen.
From financial protection, improved health outcomes and access to quality care to mental health support and wellness programmes, the benefits of health insurance are vast and varied. By investing in private health insurance, you are investing in your future health and financial stability, ensuring that you and your loved ones are prepared for whatever medical challenges may come your way.
Without private insurance, organizations and families face full costs of medical care, limited access to preventive services, potential delays in necessary treatment, and the risk of catastrophic financial burden from unexpected medical events.
Therefore, don’t wait for a medical emergency to appreciate the importance of private health insurance. Take proactive steps today to secure your health and finances with a comprehensive health insurance plan by contacting any of the 16 licenced private health insurance carriers.
If you are already insured speak to your insurer for more expansive coverage options. Get started now and experience the numerous benefits of health insurance policies firsthand. You may do so via [email protected] and/or 0202110201.
The writer is the Acting President of the Private Health Insurers Association-Ghana (PHIA-G) and the Managing Director of Star Health Insurance Limited
