One highly-requested addition to this year's report is the inclusion of Compound Annual Growth Rates (CAGR) by country and by insurer. When taking into account the overall premiums of international health insurance plans from 2015 - 2018, we found that countries in the Americas vary quite significantly - from a positive CAGR of 6.95% in Canada to a negative CAGR of -1.25% in Dominican Republic.
Interestingly, Canada's CAGR is the highest in the Americas and also globally. As we explain in greater detail in our report, in the global rankings Canada has jumped from 6th most expensive in 2017 to being the 3rd costliest country for international health insurance in 2018. One of the main reasons for this is that some of the insurers included in our report have grouped Canada and the US together and applied the same premium in 2018.
Average CAGR by insurer
We've also included here a table that breaks down the CAGR of policies offered in each location from 2015 to 2018 by insurer. It is immediately clear when looking at the CAGRs that there is a wide range between insurers.
For example, rates vary significantly in Columbia and Peru with Allianz' plans recording a positive CAGR of 11.66%, and Cigna's plans recording a CAGR of -5.28% in both countries. However, please bear in mind that this does not necessarily mean that Allianz' plans are the most expensive, or that Cigna's plans are the cheapest.
It's also important to note here that because of several changes we've implemented to this year's report, some premium data is not available for 2015/2018. This is reflected in the table below.
Country | Allianz | AXA | Cigna | Now Health |
---|---|---|---|---|
US | 11.66% | NA | NA | NA |
Canada | NA | NA | NA | NA |
Mexico | NA | 6.03% | -3.86% | 1.24% |
Brazil | NA | 2.45% | 2.55% | -1.53% |
Chile | NA | 5.97% | -5.28% | 2.16% |
Argentina | NA | 5.97% | -5.28% | 2.16% |
Dominican Republic | NA | 5.97% | -5.28% | 2.16% |
Costa Rica | NA | 5.97% | -5.28% | 2.16% |
Grenada | NA | 5.97% | -5.28% | 2.16% |
Columbia | 11.66% | 5.97% | -5.28% | 2.16% |
Peru | 11.66% | 5.97% | -5.28% | 2.16% |
Bolivia | ||||
El Salvador | ||||
Uruguay | ||||
Panama |