Medical insurance has always been the most popular type of insurance in the commercial insurance industry, with low premiums. Since 2016, a type of Internet celebrity insurance has emerged in the insurance market: million medical insurance. As the name implies, the amount of insurance is usually in the 1 million level of medical insurance, and the reimbursement scope is not limited to social security. Before this, the amount of ordinary medical insurance is within ten thousand yuan. What will be the fire of millions of medical insurance? Because it looks so attractive. Low insurance premium, high insurance amount, this is the biggest feature of millions of medical insurance. A 30-year-old adult is more than 300 yuan a year, and a 50-year-old middle-aged person is only about 1,000 yuan, while the reimbursement amount is 2 million yuan. If you calculate the leverage, it's amazing. In addition, millions of medical insurance is sold separately, which is its second feature. In the past, and some companies still do, medical insurance was sold as an additional policy attached to the main policy (usually critical illness or life insurance). Therefore, the separate sale of medical insurance directly hits the pain point of consumers.
Let me talk about the disadvantages of million health insurance. First of all, there's a 10,000 deductible. The deductible amount of this ten thousand yuan can control the risk rate of millions of medical insurance at a very low level, and accordingly, it can help the insurance company avoid a large number of risks. The data supporting this conclusion come from the annual hospitalization cost data released by the National Health Commission: the average hospitalization cost of a patient in a tertiary hospital in 2018 was 13,313.3 yuan, compared with 13,670 yuan in 2019. This HOSPITALIZATION COST or the cost before social security reimbursement, that is to say from the Angle THAT PAY FROM ONESELF WILL TELL, THE AVERAGE hospitalization COST IS CERTAINLY less THAN 10 THOUSAND. Therefore, when the risk of hospitalization occurs, the success rate of claiming through millions of medical insurance is low. Secondly, the stability of insurance renewal is poor. Medical insurance is one-year, I don't know if you have noticed this fact. And common serious disease insurance, life insurance is often long-term, guarantee period of several decades or even life. Why is this the case? That's because age-specific mortality rates and the incidence of specific diseases are available through statistical data that actuarial teams at insurers can use to price life and critical illness policies. And the settlement claim condition of medical insurance is to be in hospital, no matter the hospitalization that disease is in hospital or accidental reason causes is in hospital, and compensate the life insurance that pays a difference to the quota and serious disease insurance, medical insurance is reimbursed type, how much medical treatment cost was reimbursed actually happened inside reimbursement limit. Such characteristics pose a high challenge to the actuarial of insurance companies. They should not only consider the current level of medical costs, so as not to set the price too high and lose the competitive advantage in the market, but also consider the reasonable level of medical inflation in the future, so as not to lay a minefield for themselves a few years later. There are some factors that cannot be actuarial. For example, medical costs will rise sharply in the coming years due to breakthroughs in drug development or medical technology. Therefore, medical insurance naturally has much more actuarial difficulty than life insurance, serious disease insurance. Also therefore, medical insurance is short-term, a year to renew insurance.
To sum up, middle and high-end medical insurance is a narrowing device for the wealth gap between ordinary middle class families and rich families. Human life is priceless, but medical expenses are, and we use valuable insurance to exchange for priceless opportunity for ourselves and our families. Medical insurance, we'll just buy the most expensive one we can afford.
