Main factors affecting premium prices in health insurance programs.
- Medical inflation
- The continuous increase in the cost of medical services, medications, and specialized treatments.
- Higher use of health services
- After the pandemic, insured individuals are making more visits, diagnostic tests, and procedures.
- Increase in labor costs in the healthcare sector
- Increase in salaries for doctors and nurses, as well as a shortage of specialized personnel.
- Regulatory requirements and minimum coverage
- New regulations in several countries require more extensive health benefits, leading to higher premiums.
- Exchange rate fluctuations
- Especially important in international coverage where contracts are priced in dollars or other strong currencies.
- Increase in reinsurance costs
- Insurance companies pass on the increases from reinsurers to the final prices of the products.
- Limited competition
- Entry of fewer new companies into the market and the exit of certain players, especially in markets with strict regulations.
| Year | North America | Europe | Asia-Pacific | Middle East | Latin America | Africa | Global Avg |
|---|---|---|---|---|---|---|---|
| 2019 | ~8% | ~4% | ~6% | ~6% | ~3% | ~3% | ~5% |
| 2020 | ~9% | ~5% | ~7% | ~7% | ~4% | ~4% | ~6% |
| 2021 | ~10% | ~6% | ~8% | ~8% | ~4% | ~4% | ~7% |
| 2022 | ~32% | ~7% | ~9% | ~8% | ~5% | ~4% | ~11% |
| 2023 | ~32% | ~7% | ~11% | ~8% | ~4% | ~4% | ~12% |
| 2024 | 56% | 7% | 12% | 12% | 4% | 5% | 10–15% |
2025 | ? | ? | ? | ? | ? | ? | ? |