Global Hospital Insurance Cash Benefit Market Report 2022 – Rising Healthcare Out-of-Pocket Spending – ResearchAndMarkets.com

DUBLIN-(BUSINESS WIRE)–The report “Global Hospital Per diem Cash Benefit Market Report 2022” has been added to ResearchAndMarkets.com supply.

The global hospital per diem insurance market is expected to grow from $36.15 billion in 2021 to $41.58 billion in 2022 at a compound annual growth rate (CAGR) of 15%. The market is expected to grow to $62.16 billion in 2026 at a CAGR of 10.6%.

North America was the largest region in the hospital per diem insurance market in 2021. Asia Pacific was the second largest market in the hospital per diem insurance market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing out-of-pocket healthcare costs are expected to drive the hospital daily cash benefit insurance market. Out-of-pocket payments (OOP) are direct payments made by individuals to healthcare providers at the time of service use. According to the Centers for Medicare and Medicaid Services (CMS) 2020 National Health Expenditure Report, spending rose to $4.1 trillion in 2020 and represented 19.7% of GDP. During hospitalization, OOP hospital expenses include user charges, drugs, diagnostics, procedure charges, transportation, informal charges and others to be borne by the insured. Daily cash benefit hospital insurance provides a certain fixed amount to the insured during their hospital stay, which the person is free to use as per their needs. Hence, increasing out-of-pocket healthcare costs are helping to grow the hospital daily cash benefit insurance market.

Inability to cover the full cost of medical treatment is expected to hamper the growth of the hospital daily cash benefit insurance market. Hospital cash plans only provide day care through hospitalization, instead a health insurance plan provides more comprehensive coverage. On an average, hospital daily cash benefit insurance provides the insured with an amount ranging from $100 to $3,000 per day, which is not enough for the full coverage of treatment, making it a supplement to health insurance plans. This scenario is likely to act as a hindrance to the growth of the market.

Companies are collaborating with digital payment platforms to provide hospital daily cash benefits to provide a simple and seamless claim process to policyholders for faster reimbursement.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It tracks historical and forecast market growth by geography. It places the market in the context of the wider hospital daily cash benefit insurance market and compares it to other markets.

Main topics covered:

1. Summary

2. Characteristics of the insurance market of hospital daily cash benefits

3. Insurance hospital per diem cash benefits market trends and strategies

4. Impact of COVID-19 on hospital per diem insurance

5. Hospital Per diem Insurance Market Size and Growth

5.1. Historical market, 2016-2021, billion dollars

5.2. Forecast Market, 2021-2026F, 2031F, Billion $

6. Hospital Per Diem Cash Benefit Market Segmentation

6.1. Segmentation by plan type, history and forecast, 2016-2021, 2021-2026F, 2031F, billion $

  • Rider

  • Stand alone cover

  • Part of health insurance

6.2. Segmentation by coverage period, historical and forecast, 2016-2021, 2021-2026F, 2031F, billion $

  • Lifetime coverage

  • Term insurance

6.3. Segmentation by Benefits, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion $

  • Emergency admission

  • An accident

  • Medical treatment

  • surgery

6.4. Segmentation by Service Provider, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion $

7. Regional and national analysis of the insurance market of hospital daily cash benefits

7.1. Breakdown by region, history and forecast, 2016-2021, 2021-2026F, 2031F, billion $

7.2. Breakdown by country, historical data and forecasts, 2016-2021, 2021-2026F, 2031F, billion dollars

The mentioned companies

  • Cygna

  • AIA Insurance Group

  • UnitedHealth Group

  • Alliance

  • Zurich Insurance Group

  • Express Scripts Holding Company

  • AXA

  • Aviva

  • Etna

  • Apollo Munich Health Insurance

  • International Medical

  • Assicurazioni Generali SpA

  • Star Health Insurance

  • ICICI Lombard General Insurance

  • Religare Health Insurance

For more information on this report, visit https://www.researchandmarkets.com/r/admp95

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