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Expert: Medical insurance both in whole world & Azerbaijan has two main goals

Finance Materials 9 November 2019 12:04
Expert: Medical insurance both in whole world & Azerbaijan has two main goals

BAKU, Azerbaijan, Nov. 9

By Eldar Janashvili - Trend:

Medical insurance both in the whole world and in Azerbaijan has two main goals, Trend reports citing an Azerbaijani insurance expert Khayal Mammadkhanli.

One of these goals is that health insurance is a mechanism for monitoring health financing. That is, it is easier to control the procedures for the receipt of money in health care through insurance than through the current system in Azerbaijan - citizen-budget-health care. The second goal is to provide the population with free, but quality medical services.

In Azerbaijan, in the first nine months of 2019, according to Mammadkhanli, 73 million manat ($42.9 million) of insurance premiums were collected. It turns out that the amount of insurance premium per person is seven manat ($4.1), which is a terrible figure. In developed countries, this figure starts at about $150.

"One of the problems is education. Medical insurance is the least demanded among the types of non-life insurance in Azerbaijan," the expert said.

"This market is limited and the number of policyholders is known. Unfortunately, often competition takes place within a very narrow framework, and most of the population remains out of reach."

Mammadkhanli noted that the voluntary medical insurance covers almost the entire population in the US, only 9 percent, for one reason or another, do not have access to voluntary medical insurance there. But even so, the population is actively demanding an extension of insurance coverage to 100 percent. The issue of health insurance in the US almost always comes first, while Clinton, Obama and Trump made it an interesting tool to attract voters.

"In France, even if you get sick, the hospital cannot receive your cash, because the system is already built so that you must have an insurance policy, and all payments must occur through it. During a trip to Europe and the US, we need travel insurance, the main part of which is to insure medical expenses for people traveling to the country, with an insurance amount of $50,000, in the absence of which, embassies of many European countries simply will not issue you a visa," the expert concluded.

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Follow the author on Twitter: @eldarjanashvili

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