Rapid growth in demand for private health insurance in China and its impact on expatriates
According to a recent Ernst & Young report, the market for private health insurance in China is increasing at a rapid rate. Insurance premium revenue jumped from RMB 1.5 trillion in 2014 to RMB 2.4 trillion in 2015 and is projected to reach almost RMB 5 trillion in 2020. The increase in premiums must indicate that more and more people are seeking private health insurance to protect themselves from medical costs.