CIoD Backs Ultimate HMO’s Drive to Expand Health Insurance Coverage
The Chartered Institute of Directors Nigeria (CIoD) has thrown its weight behind efforts by Ultimate Health Management Services (Ultimate Health HMO) to expand health insurance coverage, particularly among operators in Nigeria’s informal sector. The commitment was made during a visit by officials of the institute to the health maintenance organisation’s head office annex, where both […]
The Chartered Institute of Directors Nigeria (CIoD) has thrown its weight behind efforts by Ultimate Health Management Services (Ultimate Health HMO) to expand health insurance coverage, particularly among operators in Nigeria’s informal sector.
The commitment was made during a visit by officials of the institute to the health maintenance organisation’s head office annex, where both parties discussed ways of promoting wider healthcare access and strengthening governance standards in the health sector.
Speaking during the visit, the Managing Director and Chief Executive Officer of Ultimate Health HMO, Otunba Lekan Ewenla, said the company’s newly adopted Group Individual Family Social Health Insurance Programme (GIFSHIP) was designed to provide affordable health insurance for informal sector workers and small and medium-scale enterprises (SMEs).
According to him, the programme was introduced to address the healthcare needs of millions of Nigerians who operate outside the formal employment structure and often bear the burden of healthcare expenses through out-of-pocket payments.
He explained that the package, which costs N38,718 per person annually, offers a benefit structure already familiar to healthcare providers across the country.
Ewenla noted that traders, artisans, computer operators, GSM village operators and other informal sector workers spend most of their time in business environments and should not be excluded from quality healthcare services.
“The informal sector accounts for a significant proportion of out-of-pocket healthcare spending because many of its operators are not on any payroll. We created this package to ensure they have access to quality healthcare at an affordable cost,” he said.
He disclosed that the company had commenced sensitisation campaigns on the programme and was already receiving encouraging responses from prospective beneficiaries.
The Ultimate Health HMO boss identified lack of adequate information as one of the major reasons many Nigerians have yet to embrace health insurance, stressing the need for continuous public enlightenment.
He said this informed the organisation’s decision to partner with stakeholders, including the media and professional bodies, to increase awareness about the benefits of health insurance.
“Nigerians need more information about health insurance. If people are not aware of the opportunities available to them, they cannot take advantage of them. That is why we place great importance on awareness creation and collaboration,” he said.
Ewenla added that broader health insurance coverage would not only improve access to healthcare but also contribute to national development, noting that a healthy population remains critical to economic growth.
Also speaking, Assistant Director, Membership and Branch Development of the Chartered Institute of Directors Nigeria, Mrs. Adekemi Parker, said the institute’s visit was in line with its leadership agenda focused on implementation, collaboration and execution.
She described Ultimate Health HMO as a key player within the institute’s health sector group and said the partnership would help advance corporate governance and ethical leadership within Nigeria’s healthcare ecosystem.
Parker said the institute would work with the organisation to promote governance standards and encourage compliance with established codes of conduct across both the public and private sectors.
According to her, the collaboration seeks to improve accountability and service delivery while establishing minimum standards of healthcare expectations for Nigerians.
“The CIoD will be partnering with Ultimate Health HMO to promote governance standards within both the private and public sectors and to ensure a minimum standard of service delivery in healthcare,” she said.
The partnership is expected to support ongoing efforts aimed at increasing health insurance uptake and improving access to quality healthcare services across the country.