HONG KONG -- (BUSINESS WIRE) --
Global insurance broker Pacific Prime is excited to announce that they have released their latest annual report, titled: Cost of International Health Insurance Report - 2017. The findings generated from the report should be of high relevance and interest to individuals and companies looking to learn how much they can expect to pay for international health insurance in various locations.
The new report presents a ranking of the average premiums in 100 countries, which spans from USD 19,724 to USD 7,027. These findings are based on combined data from 10 major insurers, who each offer three levels of health insurance plan: inpatient only, inpatient + outpatient, and inpatient + outpatient + maternity. The four demographics used to generate the premium data for this report are: individuals, couples, families, and retirees.
As can be expected, the US again ranked as the most expensive location for international health insurance, with Hong Kong coming in second place with an average cost of USD 12,585; 63.8% of those in the US. Singapore, China, and Canada also ranked within the top 5, with an average cost of USD 10,732, USD 10,695, and 10,263, respectively. Ethiopia, Angola, and Mali are tied as the countries with the lowest average premium.
In analyzing the findings generated for this new report, Pacific Prime identified the following key findings that they believe will have a significant impact on the industry, businesses, and clients securing health insurance in 2017 and beyond:
- The average cost of international health insurance in the US increased by nearly 14% in 2017.
- Singapore has replaced China as the third most expensive location for health insurance.
- The number of Southeast Asian countries ranked within the top 20 have increased in 2017.
- Dubai’s ranking dropped slightly from 6th place in 2016 to 9th place in 2017.
- A number of countries have seen their average premiums decrease, while other locations have seen average premiums increase.
- Several locations have the same average cost of health insurance.
As with previous iterations of the report, this year’s report further discusses the following four major factors driving the cost of international health insurance:
- Increasing demand for quality private health care;
- An increase in the cost of health care in most of the countries included in this report;
- An increasingly regulated insurance industry;
- Ongoing challenges related to fraud.
The Cost of International Health Insurance Report - 2017 is now available to download for free from Pacific Prime’s website. Click here to download the full PDF version of the report, or view the online version here.
About Pacific Prime
Headquartered in Hong Kong, Pacific Prime is an award-winning insurance broker that leverages its longstanding partnerships with over 60 leading insurers to offer the best value insurance solutions to individual and group clients. To learn more, visit: https://www.pacificprime.com/.
Stephen Ho, +852-3589-0508
Global Marketing Director
KEYWORDS: Asia Pacific Hong Kong
INDUSTRY KEYWORDS: Professional Services Insurance