The Bulgarian financial regulator Friday licensed the Municipal Health Insurance Fund. The health insurer is co-created by two companies connected to local businessman Hristo Kovachki: LM Impex with 50%, Maritsa-3 thermal power plant with 45% and Municipal Bank with 5%.
The latest entry brings up to 17 the number of health insurance funds operating here.
The new fund is licensed a day after new details were made available on the course that the health reform will take.
Al Bulgarian citizens will be required to choose a health insurer from September 1, 2008.
All funds that have amassed at least 100,000 accounts by January 1, 2009 will be licensed and will begin to share the market with the National Health Insurance Fund.
The fund will also be required to have a guarantee capital of 10 mln levs with certified origin.
No Information was immediately available on the size of the capital of the newly-licensed Municipal Health Insurance Fund.
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