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The Cost of Health Insurance in China in 2023

What is the direction of the cost of health insurance in China in 2023? How much do individual and family insurance plans cost in China, Hong Kong, and elsewhere? How much has the cost changed from the previous years? Find out the answers to these questions and more in this Pacific Prime article.

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The Cost of Health Insurance in China in 2023

According to the 2023 edition of Pacific Prime’s Cost of Health Insurance report, China is the 11st most expensive country based on average premiums for international private medical insurance (IPMI) plans for individuals after seeing a 10% increase from USD $4,798 in 2021 to USD $5,274 in 2022.

The Average Cost of Health Insurance in China and Worldwide

In our 2021-2022 report, China was the country with the 10th most expensive IPMI plans for individuals, but has now fallen to the 11th place, while the country’s ranking in the average cost of IPMI plans for families dropped from the 4th to 5th place in 2022.

People wearing masks crossing a street in China

Compared to the highest-ranking country—the US, China’s plans for individuals are 60.2% cheaper with the average cost rising from USD $4,798 in 2021 to USD $5,274 in 2022. Although the average cost of family plans in China also increased to USD $16,241, it is still 54% below that in the US. The 5 most expensive countries based on the average cost of IPMI plans in 2022 are as follows:

Top 5 Countries Based on Average Premiums for Individuals in 2022
Rank Country Average Cost (USD $)
1 US 9,817
2 Hong Kong SAR (China) 7,810
3 Singapore 7,028
4 Dubai 5,687
5 Taiwan 5,532
10 China 5,274
Top 5 Countries Based on Average Premiums for Families in 2022
Rank Country Average Cost (USD $)
1 US 28,250
2 Hong Kong SAR (China) 22,067
3 Singapore 20,351
4 Dubai 17,637
5 China 16,241

What Are the Factors Affecting the Cost of International Health Insurance in China and the Rest of The World?

Pacific Prime’s 2023 Cost of Health Insurance report provides a detailed explanation for the reasons behind premium changes and international insurance trends. While there are many factors contributing to the changes in IPMI premiums, the key drivers are:

A medical mask laying on a laptop in dim light

  • Healthcare Utilization and Medical Costs Increase

The aftermath of the COVID-19 pandemic has resulted in a 10% increase in global medical costs on average, which is the highest it has been in 15 years. The upsurge in medical costs, along with the rise in claims for COVID-19-related diseases, consequently result in a sharp increase in IPMI cost.

Projected Percentage Increase in Medical Costs by Region

Region 2022 2023 (Projected)
Global 8.8 10.0
Latin America 18.2 18.9
North America 9.4 6.5
Asia Pacific 6.9 10.2
Europe 8.0 8.6
Middle East and Africa 10.5


  • Delayed Diagnosis at the Height of the Pandemic

While the pandemic situation has stabilized in most regions, it still has long-term effects on healthcare and the global cost of insurance as lockdowns and infection fears had disrupted the diagnosis of many medical conditions at the height of the pandemic. The avoidance of preventive care due to fear of contacting the virus has unfortunately resulted in an increasing number of patients with chronic conditions such as cancer, cardiovascular diseases, and musculoskeletal disorders. The aftereffects of COVID-19 and rising demand for mental health services have also played a significant role in increasing the costs of IPMI plans around the world.

A healthcare worker performing a throat swab for a patient

  • The Impact of Inflation on IPMI Premiums

The world is currently experiencing the highest economic inflation levels since the 1970s. With the increase in the cost of medical treatments, procedures, and medications affected by inflation and healthcare labor shortage, insurance premiums are expected to continue increasing in 2023 and 2024.

  • International Insurers Leaving the IPMI Market

International health insurers Aetna International and Integra Global have withdrawn from the IPMI market in 2022 to focus on their businesses in the US and UAE, leaving fewer participants in the market. Further increases in IPMI premiums are expected to transpire if such consolidations continue.

Learn More about the Cost of Health Insurance in 2023 in Our Report!

There is more to discover about the cost of health insurance in China and worldwide! Download our 2023 Edition of Cost of Health Insurance Report today and gain valuable knowledge of the international private medical insurance industry along with:

  • Rankings of countries around the world, including top 20 and bottom 5 most expensive countries, based on individual and family IPMI premiums;
  • Detailed analysis of the key drivers affecting premiums globally;
  • Access to a 2023 review of key findings and regional analysis;

Curious about the cost of health insurance in China and plan options? With years of experience in the Chinese insurance industry, our team of advisors at Pacific Prime can offer you good advice and suitable health insurance plans to choose from. Contact us for a quote free of charge today.

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Disclaimer: Pacific Prime solely represents, operates and manages locally regulated insurance products and services in the territory of PR China. Any references to Pacific Prime Global Company or Group, the international services, insurance products or otherwise stated written or verbally, is for introduction purposes about our overseas network only as each entity is fully independent.