Forecast: Primary Private Health Insurance Coverage in Chile

From 2013 to 2023, the primary private health insurance coverage in Chile experienced variable trends with significant changes year-to-year. The highest annual growth rate was observed in 2013 at 4.64%, followed by notable growth in subsequent years, peaking in 2015 by 3.07%. However, starting from 2017, the trend shifted towards slight declines and fluctuations, particularly significant during 2020 and 2021, marked by -2.68% and -0.27% year-on-year changes respectively. By 2023, coverage stood at 3.01 million persons, showing a decrease of 4.53% compared to the previous year. Over the past five years, the average annual variation (CAGR) from 2019 to 2023 was -2.44%.

Looking forward, the forecast data indicates a continued decline in primary private health insurance coverage. By 2028, coverage is expected to drop to 2.63 million persons, with an overall forecasted growth rate of -9.31% and an average annual decrease (CAGR) of -1.94% from 2024 to 2028.

Future trends to watch for include:

• Impact of economic fluctuations and reforms on private health insurance affordability and uptake.
• Shifts in public health policy and potential expansion of public health coverage impacting private health insurance demand.
• Technological advancements in healthcare services influencing patient preferences and insurance product innovation.