Pacific Prime unveils the Cost of International Health Insurance Report 2021-2022

Since 2016, we have compiled premium data for individual and family plans in 100 locations worldwide and provided our expert analysis of what the data tells us and more. The results help to guide us and our readers as to what the latest trends are and how they influence people’s decisions when considering health insurance. So whether you are an expat policyholder, insurance specialist, or new to insurance in Hong Kong, we highly recommend you to download a FREE copy of the report to learn about our findings. Let’s give you a quick overview of the report below.

Average international private medical insurance (IPMI) in Hong Kong

Based on our compiled premium data, we found that Hong Kong ranked second (2/100) for the average cost of IPMI for both individual plans (USD $6,804) and family plans (USD $18,811). The ranking itself may surely raise a few eyebrows, given the size of Hong Kong and its location in Asia Pacific. But you should know that there are instrumental cost drivers at play here, such as the city-state’s aging population, overuse of health insurance, and others. To read our analysis and understand these cost drivers, download the report here.

“Hong Kong is the second most expensive location globally (after the US) and the most expensive location in Asia in 2021.”

Other notable findings from around the globe

If the discoveries from Hong Kong weren’t enough, wait until you learn about the findings from around the world. Our report first looks at the average premiums in the Americas and how they dominate the top 20s in our rankings, as well as the impact of COVID-19 on healthcare utilization.

While in Latin America, you will find how some of the locations saw premium decreases, whereas others like Mexico saw IPMI premiums spike for individual and family plans.

“Mexico’s IPMI premiums increased by 28% for individual plans in 2021, making it the highest increase witnessed by any location.”

In Asia-Pacific, Singapore ranks third (3/100) in our rankings, and Thailand’s premiums for individuals and families have increased since 2020 but remain the lowest average IPMI premiums globally based on our findings. On the other hand, China has been going through a “correction phase” following years of premium increases.

In the Middle East, the UAE saw IPMI premium increases for individual and family health insurance plans due to specific cost drivers.

Download our report to read our expert’s analysis of each finding and further your understanding of the cost of international health insurance around the globe.

Delve into the world of insurance premiums today!

To access our FREE comprehensive report, simply head to our download page or contact our team of insurance experts for a no-obligation consultation and/or a tailored plan comparison.

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Jimmy

Content Creator at Pacific Prime Hong Kong

Jimmy is a content writer who helps simplify insurance for readers interested in international private medical insurance. He is on a mission in Thailand to support locals, expatriates, and businesses by bring the latest news and updates to his Pacific Prime blog articles.

His expert view and wealth of knowledge on insurance can also be found in his blogs for China, Dubai, Hong Kong, and Singapore.

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