Center for Health Market Innovations (CHMI)

Global Financial Exchange Holdings LLC, an online money transfer service from the United States, United Kingdom and Canada to Ethiopia, established a private health clinic, Saint Yared Higher Clinic, in Addis Ababa. For a minimum amount of US$25 per month, money senders can purchase a health insurance product for family members living in Ethiopia.

Depending on the benefit structure and premium of the plan, policy holders and beneficiaries are able to access in- and/or out-patient services as Saint Yared Higher Clinic as the need arises. There are three types of plans:

• Silver Plan: This is the most affordable plan and costs US$300 (equivalent to a monthly fee of US$25) per individual covered per year. The plan provides covered individuals with access to basic primary care services, referral to specialty services and radiological services
• Gold Plan: The plan comes at an annual cost of $600 per individual covered (equivalent to a monthly fee of US$50) and, in addition to the services provided under the Silver Plan, also provides access to surgical services at the Saint Yared Higher Clinic.
• Diamond Plan: This is the most comprehensive and most expensive plan and requires an up-front annual payment of US$900 per individual covered (equivalent to a monthly fee of US$75 per month). In addition to the benefits provided by the Gold Plan, members of the Diamond Plan receive a 40% discount on all medication listed in the formulary of the Saint Yared Higher Clinic.

Although the marketing material of the Saint Yared Health Maintenance Plan refers to monthly fees, it is required that the full annual fee of all three health plans are paid in advance at the beginning of the year. To purchase cover for one person under the Silver Plan would thus require an up-front payment of US$300.The plans do not provide discounts for children. A 5% discount applies in cases where coverage is purchased for a family of 3 or more persons.