An astonishing number of regions witnessed a rise in their IPMI premiums in 2022. Specifically, individual IPMI premiums rose in 98 out of 100 locations, while family IPMI premiums increased in 97 out of 100 locations. On average, individual premiums went up by 12%, and family plans experienced a 14% rise.
It is noteworthy that in 2022, Thailand, the US, and Switzerland saw the highest increase in IPMI premiums among all locations.
The rise in IPMI premiums for both family and individual health insurance can be attributed to several key factors, including the aftermath of the COVID-19 pandemic and rising global economic inflation. While the demand for health insurance has been increasing since the pandemic, there has been a significant surge in IPMI premiums in 2022 compared to previous years.
The COVID-19 pandemic continues to affect the healthcare system, leading to an increase in the demand for healthcare services. As individuals catch up on missed checkups and treatments, healthcare costs have risen. Additionally, the pandemic has contributed to unhealthy lifestyle changes, resulting in a rise in mental health issues and musculoskeletal disorders.
Source: Pacific Prime Cost of Health Insurance 2023