Sino-Singapore Jingwei Client October 28th (Wei Wei) 49 yuan, 59 yuan, 69 yuan for 1 year, the maximum insured amount can reach 2 million yuan, this is the inclusive medical insurance that has been popular this year (hereinafter referred to as Huiminbao).
According to incomplete statistics from the Sino-Singapore Jingwei Client, up to now, such products have been launched in Beijing, Shenzhen, Fujian, Zhejiang, Jiangsu, Sichuan, Shandong, Shanxi, Hubei, Guizhou, Guangxi, Anhui, Henan, Liaoning, Ningxia and other places. , Involving more than 40 cities.
Huiminbao has become a phenomenon-level product in the insurance industry in 2020.
Similar to the one-million-dollar medical insurance, Huimin Insurance quickly attracted a large number of policyholders due to its "low price and low insurance threshold" characteristics. Discussions on such products also followed. Is it worth buying?
Can such a low price really achieve an insured amount of millions of dollars?
Is it necessary for policyholders who have bought million medical insurance?
Huiminbao starts a price war
"My friends in Beijing are asking whether they should buy Jinghuibao or not. My suggestion is to buy it, especially for the elderly. I also bought it myself." Mingya Insurance agent Liu Weilu told the Sino-Singapore Jingwei Client.
In Liu Weilu’s view, the biggest advantage of this insurance is that there is no need for physical examination, no health notification, and no waiting period. In addition to the five types of pre-existing diseases listed in the insurance clauses, it can be insured. It is very useful for some people with previous medical history. Friendly; secondly, it is cheaper than commercial medical insurance, regardless of men, women, and children, and no restriction on the age of insurance, the uniform is 79 yuan.
According to data released by Jinghuibao's official WeChat account, as of 24:00 on October 23, the number of participants in Beijing Jinghuibao's online one week has exceeded 500,000. On average, one person has participated in the insurance in almost one second.
Jinghuibao is just a microcosm of many people-friendly insurance.
According to incomplete statistics from the Sino-Singapore Jingwei Client, there are currently more than 40 cities with Huimin Insurance projects.
The pricing of these insurances is also quite "sinking." Most of the annual premiums are less than 100 yuan. According to statistics, there are 27 products priced between 40 yuan and 60 yuan, accounting for 60%.
The lowest premium is Hubei Province's "City Benefit Insurance", which only costs 19 yuan a year for 0-17 years old.
How about the protection of this insurance at such a low price?
Sorting out the terms of various benefits for the people, it is found that most of the insurance is limited to local insured persons. Compared with other health insurances, the insurance conditions are relaxed, with no waiting period, no age limit, no occupation, no restriction on the type of insurance, and no restriction. People with pre-existing conditions can be insured, but the policyholder has exclusions for some major pre-existing conditions.
In terms of guarantee responsibility, Huiminbao mainly guarantees the self-paid part after reimbursement of medical insurance, as well as some rare diseases and anti-cancer special effects.
In addition, Huimin Insurance has also set a certain threshold in terms of deductible and reimbursement ratio.
About 90% of the products have a deductible of 20,000 yuan, and more than 70% of the products have a reimbursement ratio of 70% to 80%.
Taking Jinghui Insurance as an example, hospitalization medical expenses are medical expenses within the scope of the basic medical insurance payment incurred by the insured in a public hospital. Individuals who are compensated by medical insurance and critical illness medical insurance can enjoy insurance protection.
The annual accumulative deductible for hospitalization medical expenses is 20,000 yuan. If the expenses above the deductible are eligible for compensation, they will be paid 100%, and the maximum compensation will be 1 million yuan.
The deductible for certain high-value drugs is 0 yuan. If the compensation conditions are met, it will be paid at a ratio of 90%, and the maximum compensation will be 1 million yuan.
Data source of Huiminbao information collection in various regions: public data collation Image source: Wei Wei tabulation of Sino-Singapore Jingwei
Huiminbao VS Million Medical Insurance
Two cups of milk tea can be used to buy a Huiminbao. It is really "can't buy a loss, can't be fooled?" In Liu Weilu's view, it is not all flaws. The most obvious point is that there are geographical restrictions, only local participation. Insurers can only purchase it; and from the current sales situation, Huiminbao’s insured time is generally shorter. For example, Beijing’s Jinghuibao only has 45 days, and some people missed it without contact.
Since the price of Huimin Insurance is less than 100 yuan, it is unavoidable to be compared with the previous popular "Million Medical Insurance". These two medical insurances also have their own advantages.
According to the comparison of the Sino-Singapore Jingwei client, from the perspective of the scope of reimbursement, most of Huimin Insurance includes medical expenses within the scope of the medical insurance catalogue and specific high drug expenses. Only a few products can reimburse hospitalization expenses outside the scope of medical insurance; Million Medical Insurance not only covers hospitalization medical expenses and outpatient surgery expenses, but also special outpatient medical expenses and outpatient and emergency medical expenses before and after hospitalization. In addition, the insurance liability of some products will also provide additional proton heavy ion medical treatment and hospitalization allowances.
In terms of deductibles, most of the million-dollar medical insurance has a deductible of 10,000 yuan, and the compensation ratio can reach 100%; while most Huimin Insurance’s deductible has been increased to 20,000 yuan, and the compensation ratio is usually 70 %-80%.
Another public concern is whether Huiminbao will increase its price in the coming year.
A number of official Q&A from Huimin Insurance stated that “the insurance policy and rate will be considered next year based on the operation of this year’s project and service conditions”, which means that the rate and coverage of Huimin Insurance may be adjusted.
Million Medical Insurance also faces the problem of rate adjustment.
According to the question and answer page of a certain million-dollar medical insurance, from the statistical data, the hospitalization expenses during the 6-year period from 2010 to 2015 have increased by 5%-6% annually, and the hospitalization expenses of public hospitals at the second level and above are RMB 100 million. With a growth rate of 9.5%, the future medical insurance rates on the market will increase with the increase in hospitalization costs and hospitalization rates.
According to Liu Weilu's observation, the current impact of Huiminbao on Million Medical Insurance is not obvious.
Although there is a difference in protection between the two, due to the lower price, policyholders generally apply for the insurance with the mentality of "one more is not too much".
Sustainability becomes difficult
Since Shenzhen launched the "Shenzhen Supplementary Medical Insurance for Major and Critical Diseases" in 2015, Huimin Insurance has gone through five years.
But before 2020, this insurance has been unknown, few people know it, and it has not been widely replicated and promoted.
Until March 2020, the "Opinions on Deepening the Reform of the Medical Security System" issued by the Central Committee of the Communist Party of China and the State Council clearly stated that by 2030, a comprehensive establishment will be completed with basic medical insurance as the main body, medical assistance as the foundation, and supplementary medical insurance and commercial insurance. Health insurance, charitable donations, and mutual medical assistance develop a medical security system system.
The implementation of the top-level design also allows commercial insurance companies to smell business opportunities.
After that, more than 20 insurance companies, including Ping An Health, Ping An Pension, CPIC P&C, and PICC P&C, joined the track of “Human Insurance”. Many players such as health enter the game.
Especially in September and October this year, nearly 20 products were put on the ground intensively.
In some cities, two types of Huimin Insurance with similar prices and protections, such as "Fuhui Insurance" and "Rongcheng Insurance" in Fuzhou, are 68 yuan and 69 yuan, respectively. The difference between the two is only one yuan.
With such a low price, what exactly does the insurance company plan for?
In an interview with the Sino-Singapore Jingwei Client, Aiwen Insurance CEO Pangbo said that the entry of insurance companies is more important to the secondary conversion of users, that is, as an entrance to obtain customers, this is the future of insurance companies to make profits The center of gravity.
“Health insurance is becoming more and more a rigid demand. After such a large group of people participate in the insurance, they may be converted into other insurance users in the future.” Zhu Junsheng, a researcher at the China Insurance and Pension Research Center, Wudaokou School of Finance, Tsinghua University, believes that insurance companies In addition to fancy user conversion, the entry also hopes to establish closer ties with government departments through Huimin Insurance. In the future, insurance companies will actively participate in the entire basic medical insurance field. This is also an important development trend of commercial health insurance in the future.
However, how does Huiminbao continue to face another major problem facing insurance companies?
"You must be cautious about insurance business with illness." Wang Xujin, director of the Insurance Research Center of Beijing Technology and Business University, told the Sino-Singapore Jingwei client that although there is a liability that is excluded, sometimes the insurance liability cannot be distinguished. For example, the elderly usually have a syndrome. When issuing pathological compensation, it is not easy to determine whether it is an insurance accident, which is a major difficulty.
Zhu Minglai, director of the Research Center for Health Economics and Medical Security of Nankai University, pointed out that Huimin Insurance is voluntarily participated by individuals, and its future success depends on whether the number of insured groups can form an effective risk dispersion mechanism.
"It is generally believed that the coverage of the insured population is 70%-80% in order to effectively spread the risk."
In terms of risk prevention measures, Zhu Minglai believes that Huimin Insurance has set a high deductible and its goal is clear. It mainly undertakes specific high-value drugs for major diseases outside the social security catalog, and the risk is relatively controllable.
In this regard, Zhu Junsheng pointed out that Urban Huimin Insurance is between social medical insurance and commercial insurance. Although it is commercial insurance, local governments have a lot of support. Therefore, generally speaking, it is a meager profit, but it does not mean that it cannot make a profit.
In Zhu Junsheng’s view, Huiminbao’s sustainable development should pay attention to three points. First, in terms of pricing, since many insurance companies are doing this business, price competition is also fierce. Therefore, it is necessary to connect with medical insurance to make the price even higher. Scientific and reasonable; the second is the coverage rate. One of the cities with a higher coverage rate is Shenzhen. The number of people insured accounts for about 50% of the number of people participating in the basic medical insurance in the region. The coverage rate in some cities is even less than 10%. If there are not enough For policyholders, risk diversification is a big challenge. Therefore, insurance companies need to unblock online and offline channels to attract more policyholders to further expand coverage; the third is to strengthen insurance companies’ claims management, especially insurance and medical institutions The cooperation between them is conducive to controlling unreasonable expenditures.
(Zhongxin Jingwei APP)
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