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Health insurance penetration could grow by 15% in Hungary in mid-term

History

The ratio of health insurance policies compared to the population is expected to grow from the current 10% to 25% in Hungary in the next 3-5 years, private health insurance broker MediHelp International told Hungarian news agency MTI today.

The statement cites MediHelp President Zahal Levy, who said the market for private health insurance is growing not only because people have more disposable income, but also because, similar to pensions, the financing of health care must also be increasingly taken over by the private sector. He said governments are unable to maintain health care at an appropriate level as medicines are becoming more expensive and the population is aging. Therefore, the relationship between insurers and health service providers plays an essential role, he added. 

In western Europe, 90% of people on average have some form of private health insurance, MediHelpʼs experience shows. By contrast, in Hungary just 18% of the 1,700 adult internet users interviewed by portfolio.hu and Gemius have private health insurance. The survey reveals that 32% of interviewees are concerned about a collapse of the state pension system and 18% fear serious illness.

MediHelp Internationalʼs Hungarian unit had losses of HUF 6.66 million in 2014, which they attributed to investment expenditures. 

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