Center for Health Market Innovations (CHMI)

Programs

Ri'aya

last updated Mar 25, 2013

Overview

Implementing organization: 
Women's World Banking Microfund for Women (MFW)
Legal Status: 
Private (not-for-profit)
Stage: 
Existing/expansion stage

Funding

Primary Source of Funding: 
Membership/subscription fees

Scale

Number of Clients Served: 
At the end of October 2010, MicroFund for Women had enroled 3,100 women.
Summary: 

Ri'aya is a mandatory health insurance policy for all members of the Microfund for Women (approximately 96% of the borrowers are women). Benefits include hospital cash to cover medical costs, transportation costs, and needs while hospitalized.

Key program components: 

Microfund for Women provides members with hospital cash - US$14 dollars per night in the hospital which can be used as the patient wishes, including covering medical costs, transportation costs, nutritious food, and financial losses from their business incurred due to their hospital confinement. The insurance covers a maximum 30 consecutive nights and 45 nights in policy period. Key exclusions include injuries sustained from war, HIV/AIDS, drug/alcohol abuse, psychiatric, cosmetic surgery, and pregnancy termination (as of 2011). Premiums of a nominal amount are paid monthly with each loan payment. Currently, premiums are subsidized at a rate of $18.61 (13.2 JD) per year (as of 2011).

EMERGING LESSONS:

  1. Having insurance may increase health seeking behavior.

  2. Clients appear to be able to use a hospital cash product with ease. Although claims rates may increase over time, the actual frequency of hospitalization may be less than expected, thus keeping claims costs low.

  3. Client reaction to a mandatory hospital cash product is generally positive.

  4. Clients need to understand how to submit claims.

  5. Loan officers not familiar with insurance may be reluctant to offer and service insurance products.

  6. The insights gleaned from client focus groups are invaluable to shape the final product and its features.

Program history: 

MicroFund for Women (MFW) started as a Save the Children lending program in 1994 and was registered as a local non profit company under the Ministry of Trade in 1999.

MFW aims to harness the productive capacity of microentrepreneurs in Jordan, especially women, by providing them with financial and non-financial services. Its work contributes to the empowerment of underprivileged women as they become income earners and decision-makers in their communities and to reduce unemployment by enhancing economic opportunities and providing support to entrepreneurial enterprises.

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