Cabinet nod to amend ETF Act to introduce health insurance scheme for private sector

The Cabinet nod was granted this week to prepare a bill to amend the Employees’ Trust Fund (ETF) Act, with a view to introduce a health insurance scheme for the private sector employees.

President Ranil Wickremesinghe, in his capacity as the Finance, Economic Stabilisation and National Policies Minister, on Monday sought the approval of the Cabinet of Ministers to instruct the Legal Draftsman to prepare a bill to amend the ETF Act, in order to enable the government to incorporate the health insurance scheme for the private sector.

In his Budget 2023 speech, Wickremesinghe proposed to introduce a health insurance scheme for the private sector employees, similar to the Agrahara health insurance enjoyed by the public sector employees.

Accordingly, the government is planning to introduce the proposed scheme with contributions from the ETF and employers, on behalf of the private sector employees.