International medical treatment costs on the increase
8 January 2016
A new report looking at the cost of employee paid medical insurance plans point to inflation busting increases averaging more than 9%, three times the global rate of inflation. Mainly due to the increasing cost of medical treatment brought about by an ageing population, overall declining health, poor lifestyle habits particularly in emerging countries, the continuing shift of healthcare from state to the private sector and a general increase in use of employer-sponsored health plans, insurers are facing a difficult task in keeping premiums affordable whilst maintaining cover benefits at an affordable price.
Latin America and the Middle East are expected to see a double-digit increase in 2016, whilst in Europe this figure is expected to fall just below 6%. The report also found that cardiovascular issues, cancer and gastrointestinal issues were the most prevalent conditions driving claims with future cost being dominated by high blood pressure, obesity and high cholesterol, followed by physical inactivity.
It goes on to say that employers need to accelerate their efforts at helping employees both understand their own health risks and motivate them to take steps to improve their health.
Bellwood Prestbury, as a leading independent intermediary specialising in corporate international medical insurance is ideally placed to help companies better understand their global medical insurance needs and to source the right cover at the right price. For more information, contact email@example.com