Lebanon: Health insurers to raise premiums, citing medical cost inflation
Source: Middle East Insurance Review | Aug 2024
Large private insurers in the Lebanese market have indicated that they will raise health insurance premiums by 10%, starting 1 July, because of the rising costs of medical care.
An actuarial study, cited by several insurers, revealed an inflation rate of 23% in the costs of medical procedures and care from 2023 to 2024. Thus, the 10% increase in health insurance premiums remains below the real inflation rate, according to professionals in the sector, reported Beirut Here.
The planned increase in health insurance premiums will take place in a market that has been in decline for several years, undermined by the erosion of consumers’ purchasing power and fierce competition between players, often to the detriment of their profit margins. M