GREECE: the market is concerned about increases in health insurance premiums

12 March 2024 — Marina MAGNAVAL
A rise in health insurance premiums, which is largely attributed to cost increases by health care providers, has negative effects on both insureds and intermediaries, writes.

According to market experts, by 2024 premiums in this segment are up by 14%, while in some health programs there is a large increase in the loss ratio that reaches 20%.

The Union of Insurance Intermediaries of Greece is pointing out that one of the solutions that can be implemented is "revision of contracts between insurance companies and nursing institutions, contracts of which apparently allow them to implement selective pricing policies between individual patients and patients insured by private insurance companies".

Insurance companies have also asked for tax exemptions and incentives that will work positively in terms of increasing demand, as insurance is subject to a 15% premium tax and a 24% VAT, the source said.