Introducing Pacific Prime UK’s Cost of International Health Insurance Report 2021-2022
Another year has come and gone and we’re back with our latest edition of the Cost of International Health Insurance Report. It’s always thrilling to announce the release of this annual report, which takes a close look at the ever-evolving world of international health insurance premiums. In the 2021-2022 edition, we look at what’s changed in the past year and offer insights into what’s to come.
The Cost of International Health Insurance Report is one of our most popular resources that expat health insurance policyholders and insurance and global insurance companies alike benefit from. It gives our readers a nuanced understanding of the average costs of international private medical insurance (IPMI) premiums across the globe as well as the key factors driving them. By using pricing data from 100 locations, our report ranks average IPMI premiums for individual and family plans.
What’s more, the report provides insights and analyses from Pacific Prime’s industry experts, looks at noteworthy global trends, and more. In this Pacific Prime UK article, we cover what you can expect from the Cost of International Health Insurance Report 2021-2022. If you’d prefer a visual representation, check out this infographic.
Looking to dive straight into the report? You can download your free copy of the report right away. Happy reading!
What is the cost of international health insurance?
Easily one of the most commonly asked questions in the insurance industry is: “What is the cost of health insurance in [country]?” Everyone from potential policyholders to those in the industry themselves can benefit from understanding medical insurance costs and insurance market trends. It’s for this reason that we compile data from 100 international locations and analyse the costs of IPMI – one of the most popular expat health insurance plans.
By now you’re probably wondering, what is the cost of global health insurance and what insurance market trends in 2022 do I need to know about? Let’s take a look.
Average individual and family health insurance premiums
In the 2021-2022 edition, the top five most expensive countries for individual and family health insurance in the world include:
Average individual premium in 2021
(USD $) – Top 5
Average family premium in 2021
(USD $) – Top 5
|1. US – $7,431||1. US – $ 20,929|
|2. Hong Kong – $6,804||2. Hong Kong – $18,811|
|3. Singapore – $6,265||3. Singapore – $17,803|
|4. Mexico – $6,200||4. China – $15,940|
|5. Israel – $5,432||5. Dubai – $15,892|
The UK came in 14th for average individual premiums in 2021, with the average cost of USD $4,737 – a 6% increase from the previous year ($USD $4,431). Similarly, average family premiums also rose by 11% in the UK in 2021 – increasing from USD $11,556 to USD $13,035.
In fact, many locations witnessed an increase in their average IPMI premiums in 2021, though you’ll have to download the free report for the complete list.
What you can learn from the Cost of International Health Insurance Report
As with all things Pacific Prime, our Cost of International Health Insurance Report aims to simplify insurance so that readers from all walks of life can gain something from it. While the report is best read from start to finish for a comprehensive understanding of the global cost of health insurance, the clear table of contents and bite-sized sections make it easy to jump straight to the section that interests you.
Once you’re done reading the report, you’ll know which locations witnessed average IPMI premium increases in 2021 and what the most noteworthy ones are. You’ll also recognise the regions that truly dominated. But aside from the IPMI rankings, a significant portion of the report focuses on the key drivers influencing them.
You’ll learn more about the role mental health plays in healthcare utilisation and costs, which is an important topic for our UK readers as mental health claims in the region continue to surge, along with so much more in our global and regional analysis sections.
Download the Cost of International Health Insurance Report 2021-2022 today
Get up to speed on all we mentioned and more by downloading your free copy of the Cost of International Health Insurance Report 2021-2022!
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