The cost of health insurance in Hong Kong for 2016
Pacific Prime is pleased to announce that we have released our latest report. Titled Cost of Health Insurance Report – 2016, this report is available now for FREE on our website and aims to provide expats, business managers, and HR teams insight into the average cost of international health insurance in 95 countries. Following the success of 2015’s report, we implemented a number of improvements in this year’s report that we feel have resulted in a more accurate representation of the overall cost of health insurance.
This year, the report focuses on four primary aspects that Pacific Prime believes to be the most relevant information any person looking for international health insurance will need to know.
Ranking the top 20 most costly and bottom five least costly countries
The primary feature of the 2016 version of the Cost of Health Insurance Report is a ranking of the top 20 most expensive and bottom 5 least expensive countries. This ranking aggregates all of the data gathered for the report which includes ten major international insurers offering three levels of plans each to four major demographics.
From this data, it was found that the average cost of all international health insurance plans ranges from USD 17,335 in the USA to USD 7,608 in Mali. Hong Kong, as was expected, ranked highly in the report, coming in second overall with an average cost of USD 11,780.
In the Appendix of the report we also break down the average cost of health insurance in the 95 countries by the four demographics including:
- Single plans – For a 36-year-old male
- Plans for couples – For a 36-year-old male and a 35-year-old female.
- Plans for families – For a 36-year-old male and 35-year-old female + two children aged 5 and 10.
- Plans for retirees – For a male aged 60
As with the overall average, Hong Kong is ranked as the second most expensive location for international health insurance for all of the demographics.
In-depth analysis on findings from 2016 data
From the data generated and the writing of the report, we uncovered three important themes in this year’s report that we believe have a strong impact on the cost of health insurance in 2016. These three changes, which include:
- A number of countries increased in rank.
- There was a decrease in the gap between the cost of insurance in the USA and the other locations when compared to 2015’s rates.
- There was an overall decrease in the average cost of international insurance in the USA.
Due to the importance of these changes, Pacific Prime has included an in-depth analysis of them and has also included an analysis of the four major drivers behind the cost of health insurance.
This year, we have included our analysis of the four major influencers of the cost of health insurance on our website, while the PDF version of the report contains the full analysis. You can view the report on our website here, or download the report by following this link.
A new style website
In an effort to make the report as digestible as possible, we have presented this year’s Cost of Health Insurance Report in a new web format. This mobile responsive site (it looks great on any mobile device!) presents a wealth of information from the summary of the report to the ranking of the average cost of health insurance.
It will also feature an interactive regional analysis which breaks down the average cost of health insurance for each demographic included in the report. We plan to have this available by the end of July, or early August so be sure to visit the Pacific Prime website on a regular basis to learn more.
A paired down PDF
One of the pieces of feedback we received on 2015’s Cost of health Insurance Report is that the three versions published presented almost too much information with too many documents to sort through. This year, we aimed to pair the information down to what readers found to be the most useful, which has resulted in just one PDF and the website.
To learn more about the cost of international health insurance, visit our website today or click here to download your FREE copy.