Sales Skyrocket for Private Health Insurance as costs of EOPYY, Monthly Contributions and Public Hospitals Rise

Sales Skyrocket for Private Health Insurance as costs of EOPYY, Monthly Contributions and Public Hospitals Rise

Consumers turn to private health insurance, due to the consecutive changes in public health care sector, both in the public insurance body, EOPYY, and public hospitals.

According to the annual data report of the Hellenic Association of Insurance Companies (HAIC), there is a dramatic increase in the number of health insurance policies, contrary to the general sales declined noted in the Greek insurance market, particularly in the life and pension sectors.

As top industry executive comments, it is not coincidental that his company, which enjoys big market shares, focuses its sales strategies to health insurance products.

At the same time insurers constantly revamp or create new health plans, renewable for successive one-year periods.

According to 2013 financial market data, Life Insurance Sector reached approximately 1.2 billion in sales, having fallen by 14.1% compared with 2012. On the contrary, health insurance policies increased by 22.3% compared to 2012, with total premiums amounting to 76.6 million euros.

Also of particular interest is the fact that although EOPYY holds the monopoly in the public health sector and constantly shrinks its benefits, is particularly pricey.

In fact, there are cases where, comparing EOPYY with a private health plan, premiums paid to EOPYY via monthly contribution to the fund, equal the cost of a private health policy.

Even if done to compare the benefits of a private health insurance with that of EOPYY in certain coverages, premiums paid by the monthly contribution to the funds corresponding to an annual cost of private health insurance.

Click here for the Greek article.

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