1. Market Research
  2. > Healthcare Market Trends
Hospital Daily Cash Benefit Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030

Hospital Daily Cash Benefit Insurance Global Market Report 2021: COVID-19 Impact And Recovery To 2030

  • July 2021
  • 175 pages
  • ID: 6102996
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the hospital daily cash benefit insurance market are Cigna Corporation, AIA Insurance Group, UnitedHealth Group Inc., Allianz SE, Zurich Insurance Group Ltd., Express Scripts Holding Company, AXA, Aviva plc, Aetna Inc., and Apollo Munich Health Insurance.

The global hospital daily cash benefit insurance market is expected to grow from $34.68 billion in 2020 to $35.26 billion in 2021 at a compound annual growth rate (CAGR) of 1.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $59.79 billion in 2025 at a CAGR of 14.1%.

The hospital daily cash benefit insurance market consists of sales of hospital daily cash benefit insurance by entities that are engaged in directly underwriting daily hospital cash plans that provide a lump sum amount in case of hospitalization and this amount can be used as per the liberty of the insured.

The hospital daily cash benefit insurance market covered in this report is segmented by type of plan into rider, standalone cover, part of health insurance; by term of coverage into lifetime coverage, term insurance; by benefit into emergency admission, accident, medical treatment, surgery and by service provider into public, private.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The inability to cover the complete medical treatment expenses is anticipated to hinder the hospital’s daily cash benefit insurance market’s growth.Hospital cash plans only provide a daily allowance through hospitalization instead, a health insurance plan provides more comprehensive coverage.

On average, the hospital’s daily cash benefit insurance provides the insured with an amount ranging from $100 to $3000 per day which is not sufficient for the complete coverage of the treatment making it a supplement to the health insurance plans. This scenario is likely to act as a hindrance to the growth of the market.

In January 2020, HDFC, an Indian-based provider of housing finance with a presence in banking, life and general insurance, asset management, venture capital, real estate, education, deposits, and educational loans, acquired a majority stake in Apollo Munich health insurance for $334 million.Through this acquisition, Apollo Munich health insurance is renamed HDFC ERGO health insurance to improve customer service experience with a wider range of products and a network of 10000+ cashless hospitals.

Apollo Munich health insurance is an India based company formed by the collaboration between Apollo Hospitals and Munich which offers services such as life, health, accident, and travel insurance.

Rising out of the pocket health care expenditure is expected to drive the hospital’s daily cash benefit insurance market.Out-of-pocket payments (OOPs) 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) report on National Health Expenditures 2018, the out-of-pocket spending grew by 2.8% to $375.6 billion in 2018, accounting for 10% of the total healthcare expenditure in the USA. During hospitalization, out-of-pocket hospital expenses include user fees, medicines, diagnostics, procedure charges, transportation, informal charges, and others that have to be borne by the insured. The hospital’s daily cash benefit insurance provides a certain fixed amount to the insured during their hospital stay, which the person is free to use as per his/her need. Hence, an increase in out of the pocket health care expenditure aids in the growth of the hospital’s daily cash benefit insurance market.

Companies are collaborating with the digital payment platforms for providing hospital daily cash benefits to provide a simple and hassle-free claim process to policyholders for faster reimbursement.For instance, in July 2020, ICICI Lombard partnered with Phone Pe for offering hospital daily cash benefits to phone pe users.

Similarly, in October 2019, Religare Partnered with Ola and started the OlaMoney-Religare Hospicash Policy which offers the policyholder to avail the compensation of $70 per day of hospital cash for plans above $7000.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Poland’s Demographic and Economic Growth Opportunities

  • $ 2450
  • July 2021
  • 41 pages

Hailed as the European Union’s growth champion in 2019, Poland experienced significant economic contractions in 2020.A resurgence of COVID-19 caused a double-dip in country’s GDP growth rate. The ...

  • Poland
  • Health Insurance
  • Healthcare
  • Industry analysis
  • Gross Domestic Product Growth Rate

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on