Health insurance premiums on the rise in 97 countries: broker Pacific Prime

A global study conducted by Hong Kong-headquartered insurance brokerage Pacific Prime found that 97 countries witnessed increases in average international health insurance premiums for both individuals and families.

Pacific Prime’s Cost of International Health Insurance for Individuals and Families - 2019 report sheds light on the cost of international health insurance for individuals and families in 100 locations across the world.

Of the 100 countries, the average international health insurance premiums for individuals ranged from $8,887 in the US to $2,728 in Thailand. Meanwhile, the average international health insurance premiums for families ranged from $26,883 in the US to $10,842 in Thailand.

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,” stated the report.

The region with the most expensive premiums is the Americas, while the region with the highest premium inflation rate was Africa.

“African countries saw some of the highest inflation rates in the world,” stated the report. “As many as 21 countries in Africa witnessed inflation rates that are 15 percent 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, however: they 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,” the report stated.

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