Everyone knows about benefits of health insurance. Therefore, some people have already got insurance policy. The government of Ukraine has been discussing the issue of compulsory health insurance for the second decade in a row. However, voluntary health insurance is becoming more popular today.
Voluntary health insurance has a direct impact on the development of the pharmaceutical market, as health insurance programs include coverage for medications prescribed by a doctor.
Insurance companies are interested in using effective and inexpensive drugs. At the same time, they are also interested in high efficiency of treatment and rapid recovery of the insured. Unfortunately, such medicines are not always prescribed by the Ukrainian doctors despite the large number of generics presented by pharmacists.
Working directly with pharmacies, the insurance company forms the list and volume of procurement of drugs, offers adjusted prices (almost always provides a discount on drugs for the insured), even contributes to the introduction of new services, such as delivery of medicines to the client.
Analysis of the insurance market shows that the health insurance segment is currently filled mainly by the corporate sector. Health insurance is one of the main benefits of the social package of employers. Private sector is prevented from making a significant contribution to the development of health insurance due to:
– weak government antitrust controls;
– low level of solvency of the population;
– insufficient awareness of the population about the benefits of health insurance;
– instability of the national economy.
The number of insurance companies engaged in health insurance in Ukraine is low because of the high insolvency of this type of activity, high qualified personnel costs, including those ones, engaged in medical, and assistance services.
In spite of the negative factors specified above the monetary volume of medical insurance market in Ukraine in recent years has a stable tendency of growth. According to Q1 2021 results, the sum of the received insurance premiums exceeded the similar indicator in 2020 by 23%, whereas the sum of the claims paid accounted for 43,7% (according to forinsurer.com).