Factors to consider when investing in health insurance in Ghana

Health insurance in Ghana has come a long way notwithstanding the number of issues faced by insurers in both the public and private sectors.

Dr. Armooh, CEO of Acacia Health Insurance Limited, in an interview with Ghana Talks Business, shared extensive insights into factors that you should consider before investing in Health insurance cover. Regardless of the experiences one may have had with Health Insurance, the benefits of having a cover far outweigh the demerits. As discussed in an earlier article, living without health insurance is high risk to you and your family.

Before investing in health insurance cover, you must consider the following,

• Assess your health risks

Before investing in any health insurance provider or package, you must first define your health risks. Knowing who you are and any underlying health risks will determine the health insurance cover to invest in.

• Define your health needs

After assessing your underlying health risks, define your needs. Based on your risk assessment, you can determine the right insurance to invest in, which is suitable to your health needs, explained Dr. Amooh. If your health needs are unclear to you, Dr. Amooh recommends having a sit down with any reputable health insurance provider.

• Determine the funds available

Do not invest in insurance that will put a strain on your finances. Hence it is important to determine the funds available to you.

• Determine the right health care facility

You must determine the right facilities for your health needs. Your means should be a determining factor in determining the right healthcare facility.

Dr. Amooh ended the interview by saying

“there’s no insurance cover on earth that will pay for everything healthcare” because it will be difficult to “determine the premium to pay for every known and unknown disease.”

He cited a disease such as SARS that sprung upon the world as an example, not forgeting the Covid-19 pandemic that is presently wreaking havoc globally. He further added that

“Health insurance is a must for everyone on earth”

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