Insurance Intermediaries of Greece call for reexamination of private health insurance cost

Despite the welcome adjustment of long-term insurance contracts in Greece by the Development Ministry, the entire issue of private health insurance costs needs to be reexamined, the Association of Insurance Intermediaries of Greece (EADE) said on Tuesday.

"Despite the intervention of the Development Ministry for the adjustment of increases on long-term insurance contracts, which we welcome, from the start, Greece is one of the most expensive countries in Europe in private health expenditures. The result is that the accumulated increases in the last four years cannot be adjusted only by restricting the rate, as the Development Ministry's amendment foresees," EADE said.

The association proposed a new round of talks "with a singe agenda item - an overall review of the issue of formulating insurance rates, which (review) will focus on guaranteeing the provision of health insurance to citizens and its continuity; the unobstructed access of the insured to private health services; and, mostly, restoring citizens' confidence in everyone who is part of the private insurance chain."

The ministry amendment approved by Parliament restricted insurance costs for 2025 to 7% on average, from the rate of 15% proposed by insurance companies.

EADE said its assessment about the pricing was that "the degree of intolerance by citizens was not appreciated in its true dimension."

Among its proposals, EADE said the cost of services and procedures should be clearly listed by hospitals, the 24% VAT imposed on reimbursements should be reviewd, the 15% tax on insurance contracts should be abolished, and public-private partnerships should be promoted to benefit the insured.

The association represents three levels of insurance intermediaries - the insurance agents, the insurance brokers, and the coordinators of insurance agents.

AMNA