Value of health insurance premiums to rise 1.59% this year

By The Nation

 

 

Health insurance premiums are expected to grow 1.59 per cent this year amid worries over the Covid-19 outbreak, the Insurance Commission said on Friday.

 

Commission secretary-general Suthipol Taweechaikarn said total premiums are expected to rise to Bt101 billion in 2021, compared to Bt99 billion last year.

 

"Uncertainty over the Covid-19 outbreak has triggered demand for health insurance policies as medical expenses are likely to increase every year," he said.

 

Tokio Marine Life Insurance (Thailand) said demand for health coverage policies has grown among customers with high purchasing power. Deputy CEO Somphot Keitkraival said the company will offer a new health insurance policy which covers medical treatment, physical therapy, medical check-up and vaccination, with premiums starting at Bt15,000 annually.

 

"The company aims to increase health insurance premiums to 50 per cent this year from 40 per cent last year," he said.

 

Cigna Insurance CEO Teerawut Sutanaseriporn said his company is employing digital tech to meet customer demand in the new normal era.

 

"Also, we will increase channels to provide information for customers and grant additional privileges for those who use digital platforms," he said.

 

Source: https://www.nationthailand.com/news/30401308

 

 

-- © Copyright The Nation Thailand 2021-01-18

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

4 hours ago, webfact said:

Thai health insurance premiums expected to go up about 1.6% this year; my American based health insurance premium went up 163% (yes 163%) this year.

 

 

Will the "value" of the coverage go up by a similar amount? Actually the premium is not a value it's a cost. The "value" is the benefit of the policy coverage should a claim be required.

 

They seem to have

5 hours ago, webfact said:

"The company aims to increase health insurance premiums to 50 per cent this year from 40 per cent last year," he said.

What is this supposed to mean?

 

And does the headline writer know the difference between the words value and price?

 

 

22 minutes ago, madmitch said:

And does the headline writer know the difference between the words value and price?

Sort of like VAT.   How does increasing the cost of an item add value to it?

Aetna just increased mine by more than 20%

For value, interpret as 'cost'. For 'grow' interpret as increase....

 

Insurance premiums are increasing....why not say that instead of the bs in the headline.

 

One wonders <deleted> this means....'The company aims to increase health insurance premiums to 50 per cent this year from 40 per cent last year," he said.'