El Sisi signs into law the Universal Healthcare Act

President Abdel Fattah El Sisi signed into law on Monday the Universal Healthcare Act, the government’s EGP 600 bn health coverage plan and a key piece of social policy for the Ismail cabinet. The bill will set premiums for employers of 4% of each employee’s monthly salary, while employees will pay premiums of only 1% of their salary into the system. It also sets a 0.25% tax on sales revenues for every company operating in Egypt to fund the system. Implementation of the law, which was published on the Official Gazette yesterday, is expected to begin in July and will span the Canal cities, according to previous statements by Finance Minister Amr El Garhy.