Brazil: Price of health insurance increased 12.2% in 2015 as compared to 2014

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According to a survey conducted by GO Associados Business, the price of health insurance grew 12.2% in 2015 as compared to 2014. It was the highest growth observed throughout the healthcare industry. Hospitals and diagnostic laboratories reported an increase of 8.4%, while medical and dental clinics registered an average increase of 9%. According to the economists of GO Associados, the growth pattern of health plans was not higher than other services since 2010. However, it registered a peak in the second half of last year. The monthly variation of health insurance was also well above the health sector, 1.06% over October-December last year. The cost of medical and hospital operators and health insurers increased 17.1% last year ended in June. Around 59% of this cost came from hospital admissions. Since 2004, the health insurance market reported the first decline in 2015 in terms of the number. It lost over 450,000 users due to the rise in unemployment. The reason behind the decline is that around 65% of health insurances are granted by companies to their employees. The survey of GO Associados also emphasizes that in 2015, the retail price of drugs increased by 6.9%. The volume of imported drugs fell by around 3%.

 

(Image Courtesy: Cash Overflow)

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