Lebanon Businessnews News

Health coverage for NSSF retirees
Parliamentary Committee for Health discussing the draft law
Share     Share on Facebook     Share on LinkedIn    

National Social Security Fund (NSSF) retirees after the age 64 will start benefiting from health coverage soon. The decision is expected to be implemented early 2015, according to the Ministry of Labor.

The Parliamentary Committee for Health is studying the health coverage draft law. Rafic Salame, Board Member at NSSF, said: “There is consensus on this project.” He said that when the Committee ratifies the draft law it will refer it to the general assembly and Parliament will enact it one they start legislation sessions.

Employees above the age 64 who were formerly covered by NSSF stop benefiting from the health coverage, and are only compensated about $35,000.

According to the new draft law, NSSF retirees who have been benefiting from 20 years health coverage will continue benefiting from it after the age 64. The family will also benefit from the health coverage even if the insured person passed away, but under several conditions. The spouse will not benefit from health coverage if married again. The spouse should not be benefiting from another public insurance party, and not registered in the commercial registry. Children can benefit from their father’s or mother’s health coverage until the age 18, handicapped people can continue benefiting from this coverage.

This project can be funded through a monthly subscription from the retired employee that represents nine percent of the minimum wage. Employers, workers, and the government are required to participate in one percent of the income to fund this project. This 12 percent will finance the project for the coming 50 years.

NSSF announced its approval for providing health coverage for retired people aged 64.

Reported by Rania Ghanem
Date Posted: Sep 10, 2014
Share     Share on Facebook     Share on LinkedIn