Business Wire October
15, 2019
A
global study of 100 countries conducted by insurance brokerage Pacific Prime
found that 97 countries witnessed increases in average international health
insurance premiums for both individuals and families.
Cost of
International Health Insurance in 100 countries - Infographic (Graphic:
Business Wire)
Of the
100 countries, the average international health insurance premiums for
individuals ranged from USD $8,887 in the US to USD $2,728 in Thailand. Meanwhile,
the average international health insurance premiums for families ranged from
USD $26,883 in the US to USD $10,842 in Thailand.
The
following are the key findings of Pacific Prime’s Cost of International
Health Insurance For Individuals and Families - 2019 report:
Top of
the list: The US remains the country with the most expensive health
insurance premiums. This is largely a result of the country’s notoriously high
cost of healthcare.
Region
with the most expensive premiums: The Americas remain
the most dominant region in the top 20 most expensive countries list. The
region was able to pack up to 15 countries into the list, which includes 29
countries due to many having the same average premium.
Region
with the highest premium inflation rate: African countries saw
some of the highest inflation rates in the world. As many as 21 countries in
Africa witnessed inflation rates that are 15% or higher, resulting from various
macro trends such as the rise of the middle-class and technological advancements.
China’s
overall premiums are getting cheaper: China’s premiums
are going through a correction phase after years of increase. In 2019, a number
of prominent insurers in China did not increase their premiums, with some even
lowering them, making it one of the few countries experiencing a year-on-year
decrease in average health insurance premiums.
Big
jumps in premium rankings: Canada saw average health insurance
premiums inflate by 7% for individuals and 5% for families, surpassing Hong
Kong as the country with the second most costly country for international
health plans. Singapore has also jumped from 9th to 4th position with an
inflation rate of 9% for both individuals and families.
Download
a complimentary copy of Pacific Prime’s Cost of
International Health Insurance for Individuals and Families - 2019 for
further details of the survey findings, as well as in-depth regional premium
analyses.
About
Pacific Prime
Headquartered in Hong Kong, Pacific Prime is the world's leading
insurance advisory firm, with nearly two decades of experience matching
individuals, families, groups, and corporates with the best value insurance
services and products. With 9 offices strategically located across Asia, the
Middle East, and beyond, Pacific Prime principally offers advice on employee
benefits, corporate insurance, and international health insurance. For more
information, visit: https://www.pacificprime.com/
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