Insurance premium hike ahead

Double-digit increases in health insurance premiums in 2025 are on the cards, stemming from a surge in payouts, at a rate over 16%, made by insurers to private hospitals in Greece in 2023.

Although the companies have not yet announced their new tariffs, market executives are anticipating significant increases for the second consecutive year in all categories of contracts, whether they are older lifelong contracts or those that are renewed annually.

The hikes will not be uniform, with the greatest burden expected to fall on older contracts that provide lifelong coverage. The increases in this category of contracts are calculated according to the health index that is compiled every year by the Foundation for Economic & Industrial Research (IOBE) and essentially reflects inflation in health compensation.

For 2023, the index stood at 14.6% from 14% in 2022. In 2021...