The Implication of Takaful in The Provision of Affordable Healthcare in Nigeria

This examined the implication of Takaful in the provision of affordable healthcare in Nigeria with special consideration given to the low and middle-income earners. The research was driven by the consistent disparities in healthcare access caused by the over reliance on out of pocket payments and insurance coverage in the health financing system of Nigeria. Quantitative research design was taken and the study used cross sectional household data and econometric models to determine the impact of Takaful participation on healthcare access and affordability indicators. The abundance of Takaful enrollment and healthcare utilization outcomes was determined using multiple regression and logistic regression analysis methods to determine the strength and statistical significance of the relationship. The results indicated that the Takaful insurance greatly increased access to healthcare, alleviated delays in accessing healthcare and decreased out of pocket spending of healthcare by insured households. The estimated effects were also robust when adjusted to important socioeconomic traits, which shows that Takaful offered financial risk insurances other than income effects. The researchers concluded that Takaful insurance was an effective and contextually applicable financing healthcare system that could help to lessen the financial costs of accessing healthcare in Nigeria. The results highlighted the relevance of incorporating other insurance arrangements that are based on risk sharing and social solidarity into health financing policies in countries to enhance affordability and equity in healthcare provision.