Post on 16-Jul-2018
transcript
Opportunities and Challenges of Health Insurance Market
ASHK Healthcare Seminar “Striving for Sustainable Healthcare Financing”Feb 26th, 2016
Kenneth DaiVice President and Chief Actuary, Manulife Asia
Opportunities for Health Insurance Companies
4
Healthcare reforms/changes across Asia
Vietnam
"New National 10” - boost health insurance productsPreferential tax on commercial health insurance
VHIS
Universal HealthCare Bill; Expanded Senior Citizen's Act of 2010.
Govt: “Medishield” upgraded “Medishield Life”;Shield insurers: Standard Integrated Plan (same)
Coordination of Benefits between gov't and private insurers
Allow “day case” to claim hospital benefits
Gov’t roadmap to reduce medical support; More choices of hospitals
Opportunities
5
Public spending / government net
Private insurance
market
Personal expenditures (uninsured and underinsured)
• Smaller than Public currently • But solid/faster growth
Potentials in Private Health Insurance Market
Opportunities
Aging population
8
Source: The World Bank
0
2
4
6
8
10
12
14
16
18
20
% o
f tot
al
Year
Population ages 65 and above (as % of total)
Hong Kong
Singapore
China
Vietnam
Malaysia
Indonesia
Philippines
Opportunities
11
Customers
What customers care about probably don’t change
But they are more demanding and less sticky