Cost of International Health Insurance – 2018

Ranking the top 20 and bottom 5 most expensive countries

Ranking based on the average price of plans for individuals

2018 Ranking of top 20 and bottom 5 countries based on average cost
Rank Country Average Cost
USD
% of
1 US $11,942 100.00%
2 Hong Kong $6,432 53.9%
3 Canada $5,720 47.9%
4 Dubai $5,198 43.5%
5 Israel $4,850 40.6%
6 Mexico $4,628 38.8%
7 UK $4,607 38.6%
8 China $4,522 37.9%
9 Singapore $4,520 37.9%
10 Russia $4,451 37.3%
11 Brazil $4,397 36.8%
12 Switzerland $4,349 36.4%
13 Indonesia $4,329 36.3%
14 Bahrain $4,271 35.8%
15 Chile $4,222 35.4%
  Costa Rica $4,222 35.4%
  Colombia $4,222 35.4%
  Peru $4,222 35.4%
  El Salvador $4,222 35.4%
  Uruguay $4,222 35.4%
16 Argentina $4,213 35.3%
  Dominican Republic $4,213 35.3%
  Grenada $4,213 35.3%
  Bolivia $4,213 35.3%
  Panama $4,213 35.3%
17 New Zealand $4,166 34.9%
18 Australia $4,146 34.7%
19 Oman $4,054 33.9%
20 Japan $4,047 33.9%
72 Botswana $3,255 27.3%
73 Ghana $3,213 26.9%
74 Mozambique $3,160 26.5%
75 Angola $3,151 26.4%
76 Tanzania $3,150 26.4%

In 2018, the average cost of international health insurance for individuals (36 year old male) are spread out between USD 11,492 in the US and USD 3,150 in Tanzia - a difference of 73.6%.

As with previous editions of the Cost of Health Insurance report, the US is by far the most expensive country in the world for individual IPMI plans with an average cost of USD 11,492. If we exclude the US, individual premiums span from USD 6,432 in Hong Kong and USD 3,150 in Tanzania; a difference of USD 3,282.

When looking at this year's ranking of the top 20 and bottom 5 most expensive countries for individual health insurance, one standout finding that became immediately apparent is the prominence of countries from the Americas in the top 20. In fact, 15 of the countries featured in the top 20 ranking are located in the Americas. To learn why this has occurred, please refer to the Analysis section of our PDF report.

 

Ranking based on the average price of plans for families

2018 Ranking of top 20 and bottom 5 countries based on average cost
Rank Country Average Cost
USD
% of
1 US $34,298 100.0%
2 Hong Kong $18,494 53.9%
3 Canada $15,003 43.7%
4 China $14,757 43.0%
5 Dubai $14,635 42.7%
6 Singapore $13,955 40.7%
7 Israel $13,638 39.8%
8 Mexico $13,106 38.2%
9 UK $12,965 37.8%
10 Indonesia $12,663 36.9%
11 Russia $12,487 36.4%
12 Brazil $12,468 36.4%
13 Bahrain $12,339 36.0%
14 Switzerland $12,183 35.5%
15 Chile $11,959 34.9%
  Argentina $11,959 34.9%
  Costa Rica $11,959 34.9%
  Grenada $11,959 34.9%
  Colombia $11,959 34.9%
  Peru $11,959 34.9%
  Bolivia $11,959 34.9%
  El Salvador $11,959 34.9%
  Uruguay $11,959 34.9%
  Panama $11,959 34.9%
16 Dominican Republic $11,900 34.7%
17 Oman $11,871 34.6%
18 New Zealand $11,712 34.1%
19 Japan $11,623 33.9%
20 Australia $11,604 33.8%
69 Ghana $9,582 27.9%
70 Tanzania $9,434 27.5%
71 Mozambique $9,358 27.3%
72 Poland $9,335 27.2%
73 Angola $9,250 27.0%

For 2018, the average cost of international health insurance for families (36 year old Male and 35 year old Female + two children aged 5 and 10) ranges from USD 34,298 in the US to USD 9,250 in Angola - a difference of 73%.

As with all previous editions of our Cost of Health Insurance report, the US is ranked as the most expensive country in the world for family health insurance with an average premium of USD 34,298.

Hong Kong is again ranked second place with an average cost of USD 18,494; 53.9% of the US average family premium. If we exclude the US, premiums range from USD 18,494 in Hong Kong and USD 9,250 in Angola - a difference of USD 9,244.

One notable finding as it pertains to this year's ranking of average family premiums is Dubai's jump in ranking, caused mainly by the introduction of VAT tax across the whole UAE region. To learn more about the newly introduced VAT tax, plus the other main factors causing an upward impact on premiums in Dubai, download your free copy of our report today.

 

Ranking based on the average price of all plans

2018 Ranking of countries based on average cost
Rank Country Average Cost
USD
% of
1 US $23,120 100.0%
2 Hong Kong $12,927 55.9%
3 Canada $10,361 44.8%
4 Dubai $9,917 42.9%
5 China $9,639 41.7%
6 Indonesia $9,329 40.4%
7 Mexico $9,252 40.0%
8 Israel $9,244 40.0%
9 Singapore $9,238 40.0%
10 UK $8,786 38.0%
11 Russia $8,469 36.6%
12 Argentina $8,438 36.5%
  Grenada $8,438 36.5%
  Bolivia $8,438 36.5%
  Panama $8,438 36.5%
13 Brazil $8,432 36.5%
14 Oman $8,317 36.0%
15 Bahrain $8,305 35.9%
16 Switzerland $8,266 35.8%
17 Japan $8,180 35.4%
18 Chile $8,091 35.0%
  Costa Rica $8,091 35.0%
  Colombia $8,091 35.0%
  Peru $8,091 35.0%
  El Salvador $8,091 35.0%
  Uruguay $8,091 35.0%
19 Dominican Republic $8,057 34.8%
20 Greece $8,035 34.8%
75 Sierra Leone $6,585 28.5%
  Romania $6,585 28.5%
  Croatia $6,585 28.5%
  Slovakia $6,585 28.5%
76 Malawi $6,554 28.3%
77 Ethiopia $6,512 28.2%
78 Mozambique $6,259 27.1%
79 Angola $6,201 26.8%

For 2018, the average cost of international insurance (the average of all insurers, plan types, and demographics) ranges from USD 6,021 in Angola to USD 23,120 in the US - a difference of 73.2%.

As with all previous versions of the Cost of Health Insurance report, Hong Kong is again ranked as the second most expensive location for IPMI plans with an average cost of USD 12,927; 55.9% of the average premium in the US. If we exclude the US, premiums span from USD 12,927 in Hong Kong and HKD 6,201 in Angola; a difference of 51.9%.

When comparing 2018's ranking of the average price of IPMI cover with that from the 2017 version of the report, we have identified a number of notable changes, the most prominent being the increase in rank in Dubai, caused by premium increases and a VAT tax of 5% being introduced, resulting in the Emirate increasing in rank from 9th in 2017 to 4th in 2018.

Other changes include a strong presence of countries from the Americas in the top 20, and a drop in ranking of both China and Singapore. Interestingly, one of the biggest movers in 2018 was Indonesia, going from 19th in 2017 to 6th this year. We have provided an analysis on these findings and more in the Analysis section of the PDF report.

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