The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) is a leading provider of insurance in Saudi Arabia.
It offers an extensive range of corporate insurance products, including property, aviation, marine, and engineering insurance. However, health insurance for corporations, including small and midsize enterprises (SMEs), remains one of MEDGULF’s core insurance offerings.
MEDGULF Group Health Insurance
Group health insurance is insurance sponsored by an employer or an organization. In the case of an employer-sponsored plan, group health insurance typically covers the sponsoring employer’s workers and its employees’ family members.
MEDGULF’s group health insurance plans may be tailored according to the requirements of the sponsoring enterprise or organization. Premiums depend on group size (i.e., number of members) and the depth and breadth of coverage.
MEDGULF’s group health insurance plans cover employees and their family members. They can be as comprehensive as the corporate client wants or needs.
Typically, they include the following:
- Medical consultation
- Prescription medication
- Diagnostic tests
- Surgery
- Hospitalization
MEDGULF Health Insurance for SMEs: RIADI Program
Aside from comprehensive group health insurance, MEDGULF also created the RIADI program for SMEs. This corporate insurance product offers hospitalization benefits, essential and preventive dentistry, root canals and emergency dental treatment, prescription glasses, maternity care, outpatient benefits, and medication.
Corporations can choose from among four different categories of coverage depending on the number of employees or members.
Below are the categories:
- From 1 to 10 Members
- RIADI Basic
- From 11 to 20 Members
- RIADI Basic
- RIADI Advanced
- From 21 to 50 Members
- RIADI Basic
- RIADI Advanced
- RIADI Premier
- From 51 to 200 Members
- RIADI Basic
- RIADI Advanced
- RIADI Premier
- RIADI Executive
- RIADI Elite
SMEs can choose from among the different plans available for each category depending on their budget and the type of coverage they want for their employees.
For instance, a small business enrolling 11 to 20 members may choose between RIADI Basic which offers adequate, decent coverage or RIADI Advanced which comes with additional benefits.
The Salem Program
The Salem program is another MEDGULF health insurance product created for enterprises. Those under this plan get not only medical coverage but also preventive care. The following are included in the plan’s services:
- Medicine refills: This is a recurring medical refill service for clients with chronic medical conditions. Medication is prepared ahead of time for convenient and timely pick-up.
- Medical second opinion: Clients can call a phone number to get a second opinion from a medical provider in an American hospital.
- Medical opinion online or via phone: In this service, clients can talk to one of MEDGULF’s doctors or the doctor on call via a chat messaging application or telephone.
- Telemedicine: This involves actual medical consultations with a health care provider through video call.
- International medical care: MEDGULF arranges medical consultation, evaluation, treatment, and repatriation, as needed, to clients who become ill while outside Saudi Arabia.
- At-home vaccination: Children under three get home visits for their required vaccinations.
- World Health Days: MEDGULF schedules events based on the event calendars created by the KSA Ministry of Health or the World Health Organization.
- Health awareness sessions: Health awareness educational events are prepared around topics requested by clients or suggested by MEDGULF data.
- Health bus: The health bus is a traveling provider of testing services for blood pressure, body mass index, uric acid, blood sugar, and cholesterol. It also conducts dental and eye exams and health awareness sessions.
- Awareness texts: MEDGULF broadcasts awareness texts on specific health issues.
- Hospital delegates: The insurance company improves access to insurance benefits by stationing representatives in many network hospitals.
Why Businesses Need to Provide Employee Health Insurance
Medical insurance coverage is mandated by law in the Kingdom of Saudi Arabia. Specifically, private-sector employers must provide all of their employees with health insurance. Coverage begins on the employment start date, including the probationary period.
Mandatory insurance coverage applies to Saudi and non-Saudi employees and extends to employees’ family members. The family members employers must include in their employees’ health insurance plans include:
- Spouses
- Sons 25 years old or younger
- Unmarried, unemployed daughters
- Orphan children under the insured family’s foster care
While the law is a compelling enough reason to provide employees with medical cover, there are other justifications for employee health insurance. Health insurance is a factor employees consider when deciding to take up a new job and is a consideration when deciding whether to stay in their current role or not.
A study by Luntz Global Partners indicates that most employees decide to stay or leave a job based on whether they like their health coverage. Nearly half reported that health insurance was either the deciding factor or one of the reasons they chose their current job.
Therefore, health insurance is essential because it helps attract and retain talent. If you want the best talent to apply and remain in your company, it’s imperative you provide an attractive employee health insurance plan.
Health Insurance for Enterprises in the KSA
MEDGULF is a leading insurance company in the Kingdom of Saudi Arabia.
Among its core offerings is corporate health insurance, which includes group health insurance, the RIADI program, and the Salem program.
Talk to MEDGULF if you need a health insurance plan for your employees.