医療従事者の為の最新医療ニュースや様々な情報・ツールを提供する医療総合サイト

HONG KONG

Japan’s private health insurance market has been actively developed, driven by the robust growth of third-sector insurance products over the past 10 years, according to a new A.M. Best report. The third-sector insurance market includes coverages for medical, cancer, nursing care, personal accident and income compensation, has seen in-force annualized premium income increase to JPY 5.9 trillion in fiscal-year 2015 from JPY 4.5 trillion in fiscal-year 2006.

The Best’s Special Report, titled, “Health Insurance Market in Japan,” states that comprehensive coverage offered by the public health insurance scheme has somewhat mitigated the growth of the private health insurance market. However, the rapidly increasing aging population in Japan has led to a significant increase in medical expenses in the past 10 years, which places an immense fiscal burden on the government. Nevertheless, a recent series of reforms in the national health care insurance schemes have been made by the government in order to control the medical expenses.

Foreign and domestic life insurers penetrated the third-sector insurance market to provide supplemental health insurance products to cover the extra costs resulting from hospitalization, which the national health insurance scheme does not cover.

According to reports, public medical expenses rose 1.9% to JPY 40.6 trillion in fiscal-year 2014, which equates to 8.33% of gross domestic product. The increase in medical expenses of the elderly population was particularly noticeable, since it was as much as four times the costs paid by the younger generation.

A.M. Best notes that the rapidly growing aging population and the government policies to shift the medical cost burden to the private sector continue to support the stable growth of the third-sector insurance market. However, the rising demand is mainly driven by the elderly, which reflects a higher risk profile for insurance companies. Given the unprecedented pace of the aging population and increasing longevity, accompanied by the rapid development in advanced medical treatment technologies, pricing will remain a challenge for insurers.

To access a copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=255325.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161031005715/en/