About the report

The Cost of International Health Insurance Report 2020-2021 ranks 100 countries based on their average premium costs for both individual and family insurance plans. To give meaning to these trends and findings, the report also delves into the key drivers shaping health insurance costs.
Due to the COVID-19 pandemic, claims utilization for most of 2020 has been very low and we have seen this reflected in low or nil premium increases in the second half of 2020. We also expect this trend to continue into 2021."
Liz Russell,
Director of Operations at Pacific Prime UK

What is the cost of international
health insurance globally?

Scores of countries saw a decline in the average costs of individual health insurance this year, when comparing to the previous year’s figures and trends. Having said that, the US retains its spot as the most expensive country in the world for both individual and family health insurance. Other noteworthy trends include Hong Kong and Singapore rising up the ranking tables and surpassing Canada to take the second and third spots.
Top 5 most expensive countries for individual
and family health insurance in the world
Average individual premium in 2020 (USD)
1. The United States - $7,703
2. Hong Kong - $6,146
3. Singapore - $5,677
4. Canada - $5,230
5. Dubai - $5,207
Average family premium in 2020 (USD)
1. The United States - $21,817
2. Hong Kong - $17,425
3. Singapore - $15,964
4. Dubai - $15,377
5. Israel - $13,614

An in-depth look at
our key findings

The Americas remains a dominant region in the top 20 most expensive countries
The Americas remains a dominant region in the top 20 most expensive countries
In our ranking of the top 20 most expensive countries for IPMI premium, we found that 12 of those countries were situated in the Americas, and that the US took the number 1 spot due to its very high costs of healthcare, though there were huge price declines this year.
Latin America may experience an increase in premiums in the next 5 years
Latin America may experience an increase in premiums in the next 5 years
Latin America provides extensive coverage for mental health, in contrast to many other regions. Given that behavioural and mental health conditions are the third most expensive condition, experts say there will be an increase in IPMI premiums in the next 5 years. That being said, each country in Latin America has different healthcare trends.
Hong Kong has reclaimed its place as the second most expensive location for health insurance
Hong Kong has reclaimed its place as the second most expensive location for health insurance
For both individual and family IPMI premiums, Hong Kong reclaims its spot this year as the second most expensive location. This points to various cost-driving factors in the SAR such as overutilization of health insurance, a rapidly ageing population, and the COVID-19 pandemic.
Singapore is the second most expensive location in Asia for health insurance
Singapore is the second most expensive location in Asia for health insurance
Singapore faces a rise in the cost of health insurance and takes the spot as the second most expensive location in Asia for IPMI premiums. This is because the city-state faces inflated medical charges and overuse of insurance. To top it off, there is an ageing population and residents typically make poor lifestyle choices.
China's premiums are going through a correction after years of increase
China's premiums are going through a correction after years of increase
As a result of the COVID-19 pandemic, demand remains subdued in China, the world’s second-largest economy. In light of this, IPMI premiums in the country have decreased. Simultaneously, more and more insurers are taking up digital technology and innovation, causing the country’s insurance sector to be transformed.
A number of countries' premiums have decreased in 2020
A number of countries' premiums have decreased in 2020
Largely as a result of the COVID-19 pandemic’s unprecedented impact and burden on healthcare systems the world over, a whopping 36 countries in our ranking table saw a decline in their average IPMI premiums, in a sharp contrast from the trends in previous years.
Insurers are taking a closer look at their regional pricing strategies
Insurers are taking a closer look at their regional pricing strategies
Insurers are reassessing their pricing strategies for each region. This is so that they can set appropriate IPMI premiums that are in line with service quality and operational sustainability, as well to prepare for similar crises in the future.

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