Data shows more than one million Kenyans face catastrophic health expenditure annually Jubilee Health chief executive officer Njeri Jomo /JACKTONE LAWI Kenya's health care burden is driving many people to borrowing and in-turn contributing to high loan defaults, according to insurance and banking experts According to insurance firms and lending institutions, the high medical expenses could easily derail clients' ability to service credit.
Concerned insurers and lenders now exploring new ways of shielding clients saying severe health-related costs are increasingly disrupting borrowers' finances. Medical emergencies has now joined loss of life as a major reason for struggling to repay loans. They noted that medical bills fundraising calls are now a common feature in many WhatsApp groups alongside posts asking for contributions to paybills for a needy case or emergencies.
According to Jubilee Health, more than one million Kenyans experience catastrophic health expenditure every year, forcing many households to rely on savings, borrowing or credit to pay hospital bills. "We are seeing that in the past, the biggest disruption to paying back your credit was loss of life.
But now catastrophic health expenditure begins to be a factor," said Jubilee Health chief executive officer Njeri Jomo said. Low insurance coverage and access to affordable, quality healthcare remains a major concern in Kenya, where many citizens face significant financial barriers to receiving essential medical services.
Despite the government's commitment to Universal Health Coverage (UHC) and ongoing reforms, affordability and accessibility continue to hinder the realization of equitable healthcare for all. Principal officer and insurance portfolio lead at Safaricom Bryan Nyutu called for the need for products that are not only of high quality but also affordable, highlighting the delicate balance between maintaining standards and ensuring accessibility for the average Kenyan.