What is the cost of health insurance in 2021-2022?
https://banners.asiaxpat.com/ads/kwiksure_ins_cost.png
“How much does health insurance in Hong Kong cost?” is a question that our friends from
Pacific Prime Hong Kong get asked all the time. Along with the SAR, people also want to know about medical insurance costs in other countries - and how they compare.
That’s why every year, Pacific Prime releases their
Cost of International Health Insurance using premium data collected from 100 locations worldwide. Readers who are curious about international health insurance premiums around the world and insurance industry trends can gain a lot from the free-to-download report.
Let’s take a look at what you can expect from it.
The average cost of IPMIs in HK
Whether you’re a policyholder or in the health insurance industry, it’s helpful to understand the global health insurance costs and insurance market trends in 2022. The Cost of International Health Insurance Report uses data from 100 different locations across the globe and dives into the cost of international private medical insurance (IPMI) premiums, one of the most popular expat health insurance plans.
Though you’ll have to
download the free report to look at all 100 locations, we can reveal that Hong Kong ranks as one of the most expensive locations for IPMI premiums in the world, which is hardly a surprise with its high cost of living and healthcare. In fact, the SAR comes in second place for both individual and family health insurance at USD $6,804 and USD $18,811, respectively. However, it’s worth noting that premiums remained high despite the impact of the COVID-19 pandemic on the local economy and the expat exodus.
It also won’t be shocking to most that the US bagged the top spot in average premiums across the board. The country is notorious for its high healthcare costs - so much so that global insurance companies offer US inclusive and exclusive options. But how do other locations rank and what are the top five most and least expensive locations for IPMIs, you ask? This
infographic offers a visual sneak peek of the report.
Insurance trends in 2022
Along with knowing the ins and outs of average IPMI premiums globally, you’ll also learn about the key drivers influencing them. For instance, insurtech going mainstream in 2022 is a trend that was inevitable, though its adoption has been accelerated with recent events. It's easy to see why with benefits like increased efficiency, reduced risks of cyberattacks, and enhanced business capabilities.
The report also explores healthcare utilization, costs, and digitalization, as well as the rise of anti-fraud analytics and more. Designed to be helpful to individuals and employers alike, you’ll walk away from the report with a nuanced understanding of the cost of international health insurance. What are you waiting for? Download your free copy of the
Cost of International Health Insurance Report 2021-2022 now!