The Mexican population with medical expenses insurance increased by 60% in the last decade, this means that just over 12.2 million Mexicans have this financial protection that allows them to cover hospital expenses in cases of accidents or illnesses.
The pandemic was a motivator so that, in the last two years, people acquired medical and life insurance, products that helped thousands of families maintain their financial stability in this period.
“27 months after the pandemic, medical expense insurance supported more than 202,000 families. Insurers have paid 3,035 million dollars in medical expenses and life insurance”, reported Norma Alicia Rosas, general director of the Mexican Association of Insurance Institutions (TO MY).
In medical expense insurance, the payments that insurers have made in a decade have gone from 23.6 billion pesos in 2010 to 83.7 billion pesos by 2021.
This situation becomes relevant in a context in which, according to figures for the Ministry of Finance and Public Credit (SHCP)18.7% of the population in Mexico does not have social security or private health insurance, reported AMIS.
What causes Mexicans to allocate an important part of their income to health care, through the so-called out-of-pocket expense, which has grown in recent years, according to figures of the Organization for Economic Co-operation and Development (OECD)
It is estimated that out-of-pocket spending in Mexico was 9,512 pesos in 2020, while in 2016 it amounted to 9,126 pesos, according to the international economic organization.
They pay 31.8 million pesos a day for Covid-19
Insurance companies, since the pandemic began, have served 202,867 families, both in major medical expenses and life insurance, to which they have paid 61,099 million pesos (3,035 million dollars).
In major medical expenses insurance, 49,841 cases have been attended for a paid amount of 26,140 million pesos, which is equivalent to 31.8 million pesos a day, reported AMIS.
For these families, the lack of insurance would have caused them to pay an average amount of 524,473 pesos. However, in cases of intubation, medical care cost up to 3.5 million pesos.
Regarding life insurance, the industry served 153,026 families, and they have paid 34,959 million pesos, which is equivalent to 42.6 million pesos per day.
“In the case of life insurance, without their support, families would have to face an average disbursement of 228,457 pesos,” detailed AMIS.
