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Reading: A wealth of opportunities for expansion in private health insurance sector
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BBN > Greece > Economy > A wealth of opportunities for expansion in private health insurance sector
GreeceEconomy

A wealth of opportunities for expansion in private health insurance sector

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Last updated: 08/07/2024 18:46
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Greek Healthcare Expenditure in 2022

In 2022, Greeks spent a total of 5.9 billion euros out of pocket for medical services. This amount was significantly lower than the public spending on healthcare, which amounted to €10.9 billion. Despite this, Greece ranked at the bottom of the EU rankings in terms of state healthcare expenditure, with only 61.8% of total health spending being covered by the government.

Private Health Expenditure

On the other hand, Greece was at the top of the rankings in terms of private health expenditure, with 33.4% of total health spending coming from private sources. Expenditure through private insurance was limited to €712.4 million, indicating a significant potential for growth in the private health insurance market in Greece.

However, the cost of insurance premiums has been a deterrent for many Greeks. This year, the annual hikes in old hospital plans reached 15%, while new plans saw increases of 7-9%. Despite the potential for growth in the private health insurance market, the high cost of premiums remains a challenge for many individuals and families in Greece.

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