• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Thursday, March 23, 2023
  • Login
  • Register
Business Post
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Health Insurance, Nigeria Finds Space In World Bank & WHO Universal Health Plan

Staff Reporter by Staff Reporter
February 4, 2022
in Insurance
0 0
8
Health Insurance, Nigeria Finds Space In World Bank & WHO Universal Health Plan
0
SHARES
24
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Health insurance the game over for for life without adequate health protection is beginning to gain acceptance across the federation with Anambra, Delta and Lagos leading in the pack of 19 states at various stages of implementing own universal health insurance coverage schemes. Besides the growing national acceptance, is an endorsement of research by World Bank and WHO which showed that 100 million people are pushed into extreme poverty on an annual basis due to healthcare expenses. 

Meanwhile, health insurance has been operating in Nigeria for over 15 years, with low uptake still staring. This prompted Leadway Group to adderss this via a recent virtual Leadway Assurance Media training for insurance journalists in Lagos, where the head, Medical Services, Leadway Health, Dr. Temitope Falaiye, said Nigeria still spends a relatively small proportion of national income, translating to about 4 per cent of Gross Domestic Product(GDP) on health against the agreed 15 per cent  at the 2001 Abuja Declaration.

Nigeria’s 77.23% out-of-pocket expenditure on health he said is amongst the highest in the world and the highest in Africa, despite the available voluntary National Health Insurance Scheme(NHIS) covering less than 5% of the population, of with a commanding informal sector holds of 60% of its GDP and largely uncovered by health insurance.

“To bridge the coverage gap, several states have commenced the establishment of State Health Insurance Schemes. Presently, about 19 states are at various stages of their implementation journey. Anambra, Delta and Lagos state have particularly made significant progress in enrolment. Private health insurance accounts for less than 3% of the Nigerian population,” he pointed out.

Admitting that there is no one-size-fits-all approach to achieving Universal Health Coverage(UHC) each states adopts what suits it best to address its peculiarity. However, he said there are challenges that cut across which include underfunding, funding allocation in favour of secondary and tertiary care as against primary healthcare, as well as poor public financial management. Other hiccups he listed include, ” limited political commitment to health and primary healthcare, poor policy formulation, lack of clarity on roles and responsibilities at different levels of the system, lack of measures to assess quality of care, lack of confidence in healthcare systems and human resource shortages (workforce)” 

As a hedge to these, he called for diversification of sources of funding, increased funding for primary healthcare services through public-private partnership, and state funded private health insurance in collaboration with private health management organisations(HMOs). He also suggested incentives for health providers in rural communities, and fraud prevention systems to check corruption.

To sustain a national order he called for a national UHC roadmap involving all stakeholders, national, state and international partners. For the government, he wants an enabling environment to promote corporate social responsibility(CSR) for UHC initiatives, have a monitoring and evaluation framework with data from key UHC indicators.

On Leadway Health, which started operation 1st of January, 2021, he said, the HMO is made up of highly experienced, technology savvy health insurance professionals who are driven to change the perspective of health insurance in Nigeria. “At the onset, we analysed the customer journey, identified pain points and deployed targeted solutions to ensure a best in class experience for both health providers and clients. “The growth of the company has been exponential with over 51,000 enrollees spread across the country (inclusive of corporate, retail and NHIS,” he stated.

Also, Mr.  Gbolahan Oluyemi of the Leadway Capital & Trusts Ltd, while making presentation on Understanding Wills and Trusteeship, advised Nigerians on estate planning which is the preparation and planning to manage an individual’s asset base after demise or incapacitation. He explains, “there are different modes of estate planning and they include, trust, inter vivos gifts and wills. A trust is an arrangement whereby a person transfers an asset to a person (Trustee) to hold in trust for the benefit of a third party (Beneficiary). A Will is a legal document by which an adult expresses how he/she wants his/her assets/property to be distributed after his/her death.”

He said will writing ensures that assets will be distributed according to stated wishes, offers protection for beneficiaries, excuses the need for Letters of Administration, contains an inventory of assets and reduces fraud in the succession process as well as ease access to the retirement savings. Earlier, Principal Investment & Strategy, Leadway Assurance, Joshua Ogbeifun, charged journalists to continue to deepen insurance awareness and education through information dissemination, noting that it improves penetration as well as insurance industry profitability. 

Previous Post

Benefits: Programmed Withdrawal Preferred , Annuity Follows

Next Post

NAICOM Out With Web Aggregators Guidelines, Plus N20m Professional Indemnity

Staff Reporter

Staff Reporter

Related Posts

Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders
Insurance

Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

March 20, 2023
Guinea Insurance Sets For Return To Profit Turf
Insurance

Guinea Insurance Sets For Return To Profit Turf

March 18, 2023
Transactional Risk Insurance Now Mainstream Product – Report
Insurance

Transactional Risk Insurance Now Mainstream Product – Report

March 15, 2023
Next Post
NAICOM Head office

NAICOM Out With Web Aggregators Guidelines, Plus N20m Professional Indemnity

Comments 8

  1. เอริคเทนฮาก says:
    3 weeks ago

    Thanks for your write-up. I would like to comment that the very first thing you will need to complete is to see if you really need repairing credit. To do that you will need to get your hands on a duplicate of your credit report. That should never be difficult, because government necessitates that you are allowed to receive one free of charge copy of your credit report annually. You just have to consult the right individuals. You can either look at website for that Federal Trade Commission or contact one of the major credit agencies straight.

    Reply
  2. starting a credit card processing company says:
    3 weeks ago

    Hello, i feel that i noticed you visited my website thus i came to ?return the prefer?.I’m attempting to in finding issues to improve my site!I suppose its good enough to use a few of your concepts!!

    Reply
  3. 메이저사이트사이트 says:
    2 weeks ago

    Very nice post. I just stumbled upon your blog and wished to mention that I’ve really enjoyed surfing around your blog posts. After all I will be subscribing for your rss feed and I’m hoping you write again soon!

    Reply
  4. Olej z Czarnuszki says:
    2 weeks ago

    The following time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to learn, however I truly thought youd have something fascinating to say. All I hear is a bunch of whining about something that you could fix should you werent too busy on the lookout for attention.

    Reply
  5. 메이저사이트 says:
    1 week ago

    Good blog post. The things i would like to bring about is that personal computer memory has to be purchased but if your computer cannot cope with what you do with it. One can set up two random access memory boards of 1GB each, for instance, but not certainly one of 1GB and one having 2GB. One should check the car maker’s documentation for one’s PC to make certain what type of ram it can take.

    Reply
  6. porn says:
    6 days ago

    Something else is that while looking for a good internet electronics retail outlet, look for web stores that are consistently updated, preserving up-to-date with the most up-to-date products, the best deals, as well as helpful information on products and services. This will make sure that you are getting through a shop which stays ahead of the competition and gives you what you need to make educated, well-informed electronics buys. Thanks for the essential tips I have really learned through your blog.

    Reply
  7. bokep jepangzegt: says:
    4 days ago

    Wonderful items from you, man. I’ve be aware your stuff previous to and you’re just extremely fantastic. I really like what you have got here, really like what you’re stating and the way in which through which you are saying it. You’re making it entertaining and you still care for to stay it sensible. I can’t wait to read far more from you. This is really a wonderful web site.

    Reply
  8. gin rummy card game says:
    4 days ago

    Pretty section of content. I just stumbled upon your blog and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Any way I will be subscribing to your augment and even I achievement you access consistently rapidly.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
ILAN Picture

Loss Adjusters Receive Charge To Match Speed Of New Developments

July 30, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
ncrib logo

NCRIB And Universal In Pictures

August 23, 2020
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
NCRIB Sets The Stage For Adaramola’s Tenure

NCRIB Sets The Stage For Adaramola’s Tenure

March 18, 2021
PenCom Approves Mrs Okwuosa New Access Pension Fund Custodian MD

PenCom Board Back-To-Work Pass, Gets Tick Over

February 1, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Scib CEO Tinubu

Professionals Want Value Dimension Added To Enhance Compulsory Insurance

6249
How Strong Is The Reinsurance Sector Going Into 2021?

How Strong Is The Reinsurance Sector Going Into 2021?

5793
Allianz Claims Survey Shows Changing Claims Patterns

Internal Failures, Major Cause Of Cyber Claims

4999
Anchor MD Loses Father

Anchor MD Loses Father

1325
As Nat Cat Losses Mount A Resilience Mindset Matters More Than Ever

As Nat Cat Losses Mount A Resilience Mindset Matters More Than Ever

1319
Leadway Assurance Leads With ISO/IEC Re-certification

Leadway Assurance Leads With ISO/IEC Re-certification

892
NIID: Dare Project To Take back Motor Policy From Touts Still Surging Despite Odds

NIID: Dare Project To Take back Motor Policy From Touts Still Surging Despite Odds

828
PenCom Trigger Lifts Transfer System Off The Starting Block With Split Responsibilities

Pension Funds Encounter First Waterfall

347
Old Mutual Points Nigerians To Insurance-backed Savings Plans To Hedge Economic Volatilities

Old Mutual Points Nigerians To Insurance-backed Savings Plans To Hedge Economic Volatilities

295
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

235
Tax Administrators Charged To Match The Pace Of Global Technological Advancements

Tax Administrators Charged To Match The Pace Of Global Technological Advancements

March 21, 2023
Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

March 20, 2023

FIRS Feast Of MoU Snaps UK Counterpart

March 18, 2023
Guinea Insurance Sets For Return To Profit Turf

Guinea Insurance Sets For Return To Profit Turf

March 18, 2023
Image Spin: Farewell For Omolola Adekunle Bankole

Image Spin: Farewell For Omolola Adekunle Bankole

March 17, 2023
Seplat Energy Says Allegations Against CEO, Board Untrue, Misleading

Seplat Energy Says Allegations Against CEO, Board Untrue, Misleading

March 16, 2023
Transactional Risk Insurance Now Mainstream Product – Report

Transactional Risk Insurance Now Mainstream Product – Report

March 15, 2023
Over 2,100 RSA Holders Make Maiden Dash For Transfer Window

PenOp Creates Bastion Of Effective Leadership For Pension Professionals

March 14, 2023
Allianz Combines Commercial Insurance Divisions

Allianz Combines Commercial Insurance Divisions

March 14, 2023
Preferred PenCom Logo

PenCom Knocks Lagos For Consistent Failure To Pay N2bn Monthly Commitment To Retirees

March 13, 2023

Recent News

Tax Administrators Charged To Match The Pace Of Global Technological Advancements

Tax Administrators Charged To Match The Pace Of Global Technological Advancements

March 21, 2023
Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

March 20, 2023

FIRS Feast Of MoU Snaps UK Counterpart

March 18, 2023
Guinea Insurance Sets For Return To Profit Turf

Guinea Insurance Sets For Return To Profit Turf

March 18, 2023
Image Spin: Farewell For Omolola Adekunle Bankole

Image Spin: Farewell For Omolola Adekunle Bankole

March 17, 2023
Seplat Energy Says Allegations Against CEO, Board Untrue, Misleading

Seplat Energy Says Allegations Against CEO, Board Untrue, Misleading

March 16, 2023
Transactional Risk Insurance Now Mainstream Product – Report

Transactional Risk Insurance Now Mainstream Product – Report

March 15, 2023
Over 2,100 RSA Holders Make Maiden Dash For Transfer Window

PenOp Creates Bastion Of Effective Leadership For Pension Professionals

March 14, 2023
Allianz Combines Commercial Insurance Divisions

Allianz Combines Commercial Insurance Divisions

March 14, 2023
Preferred PenCom Logo

PenCom Knocks Lagos For Consistent Failure To Pay N2bn Monthly Commitment To Retirees

March 13, 2023
Guinea Insurance Takes The Stride Of Fresh N900m Capital

Guinea Insurance Takes The Stride Of Fresh N900m Capital

March 9, 2023
World Survey, Nigeria In Third Spot In Credit And Political Risk

World Survey, Nigeria In Third Spot In Credit And Political Risk

March 9, 2023
Advans Nigeria Goes Further At 10 With Better Banking, Branch Expansion

Advans Nigeria Goes Further At 10 With Better Banking, Branch Expansion

March 9, 2023
Doing Good, Sanlam Nigeria Sends Waves Of Special Care To Needs Organisations

Doing Good, Sanlam Nigeria Sends Waves Of Special Care To Needs Organisations

March 7, 2023
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel

Recent News

Tax Administrators Charged To Match The Pace Of Global Technological Advancements

Tax Administrators Charged To Match The Pace Of Global Technological Advancements

March 21, 2023
Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

Ojumah’ Exploits Earn Induction Into Sanlam Pan Africa Council Of Elders

March 20, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In