HONG KONG--(BUSINESS WIRE)--Nov 7, 2024--
Pacific Prime, a global health insurance brokerage and employee benefits specialist, has released its annual Cost of International Health Insurance (COHI) Report 2024, analyzing IPMI premiums for individual and family plans across 100 global locations.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241107735497/en/
This year’s report reveals shifting dynamics in the international healthinsurance landscape, covering a variety of significant trends, such as the 56% increase in U.S. premiums, Dubai's escalating costs, and Hong Kong's constant second-place ranking in premiums. Additionally, the report offers insight into how Singapore remains a leader in technology and flexible benefits, as well as the implications of visa reforms in Thailand, which aim to attract expatriates and lower insurance coverage requirements.
Neil Raymond, the CEO and Founder at Pacific Prime, shared:
"Consumers are encountering fewer choices in the IPMI market, as major insurers like Cigna divest licenses and Aetna exits the international space. To remain competitive, brokers must focus on enhancing the value they bring to their services.”
The report indicates that the average IPMI premiums for individual plans, which varied from USD $3,900 in Poland to USD $15,296 in the US, and family plans, which varied from USD $10,710 in Poland to USD $34,152 in the US, were evaluated from 100 locations and driven by multiple factors.
These factors discussed in the article include:
For more information on how global inflation, insurer exits, and healthcare overutilization are reshaping international health insurance markets, download the COHI Report 2024.
About Pacific Prime
Established in 2000, Pacific Prime is an award-winning global insurance brokerage and employee benefits specialist that offers individual and corporate insurance solutions. With a USD $1 billion premium under management, Pacific Prime is now the third largest employee benefits broker in the Asia Pacific after acquiring CXA Group’s brokerage arms in 2021. The brokerage has over 1,000 employees and 15 offices worldwide, including Hong Kong, Singapore, China, Thailand, Malaysia, the UAE, Indonesia, the UK, the US, Mexico, the Philippines, and Australia.
To learn more about Pacific Prime, please visit: https://www.pacificprime.com/corporate
A visual overview of Pacific Prime's findings on the average costs of international health insurance and premium trends in 2024. (Graphic: Business Wire)
The masked gunman who stalked and killed UnitedHealthcare CEO Brian Thompson outside a Manhattan hotel used ammunition emblazoned with the words “deny,” “defend” and “depose,” a law enforcement official said Thursday.
The gunman is still at large and a manhunt is underway.
Here's the latest:
In Minnesota, police in the Minneapolis suburb of Maple Grove, where Thompson lived, said Thursday they believe a bomb threat on Wednesday night was a hoax.
Maple Grove police put out a statement Thursday saying a “suspected swatting investigation” was underway. The department said it received a report of a bomb threat directed at two addresses around 7 p.m. CT Wednesday. The Minneapolis Bomb Squad and the Hennepin County Sheriff’s Office assisted, but investigators found no suspicions devices or other items.
“The case is considered an active investigation, while the incident appears to be a hoax. No further comments will be made at this time,” the police statement said.
Police reports provided to The Associated Press by the department show that officers made contact with family members at one of the homes and were told they had seen nothing suspicious and had received no direct threats.
Back in Thompson’s home state of Minnesota, authorities were investigating a bomb threat that reportedly was made against his home Wednesday night, after his death. It was first reported by TMZ.
City Prosecutor Andrew Draper confirmed to The Associated Press via email Thursday that he received an email Wednesday night “regarding a bomb threat. I reported it to the Maple Grove Police Department and do not have any additional information.”
Maple Grove police officials did not immediately respond to requests for details Thursday.
Local ATF spokesperson Ashlee Sherrill said: “ATF was made aware of the incident in Maple Grove last night, but no ATF resources were deployed. We are unable to confirm any further details.”
A local FBI spokesperson did not immediately respond to a request for information on the FBI’s involvement in the investigation.
The words emblazoned on the ammunition used in the shooting – “deny,” “defend” and “depose” – were written in permanent marker, according to a law enforcement official.
The official wasn’t authorized to publicly discuss details of the ongoing investigation and spoke to The Associated Press on the condition of anonymity.
— Jake Offenhartz
As of Thursday morning, police were still searching for the shooter.
They released new photos of a person they said is wanted for questioning in connection with the shooting. The images match the lobby of the HI New York City hostel on Manhattan’s Upper West Side, including its black-and-white checkered floor and a distinctive bench in the shape of a semi-circle.
An employee at the hostel said police had visited but declined to provide further information. Danielle Brumfitt, a spokesperson for the lodging, said in an emailed statement that they are cooperating with the NYPD but can’t comment due to the active investigation.
According to the official who spoke to AP about the ammunition messaging, investigators are running DNA and fingerprint analysis on items found near the shooting, including a water bottle, that they believe the suspect may have discarded. Additionally, they’re looking into whether the suspect had pre-positioned a bike as part of an escape plan.
Doctors and patients have become particularly frustrated with prior authorizations, which are requirements that an insurer approve surgery or care before it happens.
UnitedHealthcare was named in an October report detailing how the insurer’s prior authorization denial rate for some Medicare Advantage patients has surged in recent years. The report from the U.S. Senate Permanent Subcommittee on Investigations also named rivals Humana and CVS.
Insurers say tactics like prior authorization are needed to limit unnecessary care and help control spiraling medical costs.
Frustrations extend beyond the coverage of care. Expensive breakthrough medications to slow Alzheimer’s disease or help with obesity are frequently not covered or have coverage limits.
In the U.S. health care system, patients get coverage through a mix of private insurers such as UnitedHealthcare and government-funded programs such as Medicaid and Medicare. That can prove particularly frustrating for doctors and patients because coverage often varies by insurer.
Polls reflect those frustrations with the U.S. health care system in general and insurance companies in particular.
About two-thirds of Americans said health insurance companies deserve “a lot of blame” for high health care costs, according to a KFF poll conducted in February.
Thompson’s wife, Paulette Thompson, told NBC News that he told her “there were some people that had been threatening him.” She didn’t have details but suggested the threats may have involved issues with insurance coverage.
Eric Werner, the police chief in the Minneapolis suburb where Thompson lived, said his department had not received any reports of threats against the executive.
A message left at the scene of an insurance executive’s fatal shooting — “deny,” “defend” and “depose” — echoes a phrase commonly used to describe insurer tactics to avoid paying claims.
The three words were emblazoned on the ammunition a masked gunman used to kill UnitedHealthcare CEO Brian Thompson, a law enforcement official told The Associated Press on Thursday. They’re similar to the phrase “delay, deny, defend” — the way some attorneys describe how insurers deny services and payment, and the title of a 2010 book that was highly critical of the industry.
Police haven’t officially commented on the wording or any connection between them and the common phrase. But Thompson’s shooting and the messages on the ammunition have sparked outrage on social media and elsewhere, reflecting a deepening frustration Americans have over the cost and complexity of getting care.
▶ Read more about the messaging left behind by the shooter
The New York Police Department released photos Thursday morning, asking for the public’s assistance in identifying the individual pictured. Police say the person is wanted for questioning in connection with the shooting of the UnitedHealthcare CEO.
A Senate panel has been investigating how frequently three major insurers, including UnitedHealthcare, deny care to patients who are enrolled in Medicare Advantage plans. It has also investigated the use of artificial intelligence in deny those claims.
Medicare Advantage is the private version of Medicare, which provides health insurance to millions of older Americans.
The Senate’s Permanent Subcommittee’s report released earlier this year found that as UnitedHealthcare relied more on its automated system to review claims denials increased for post-acute treatment, which includes nursing home or rehabilitation care. The insurer denied nearly a quarter of claims, a rate that doubled over just a two-year period from 2020 to 2022.
Joseph Kenny, the NYPD chief of detectives, says the shooter wore a black face mask, black-and-white sneakers and a distinctive gray backpack.
He arrived outside the hotel about five minutes before UnitedHealthcare CEO Brian Thompson did, then waited and ignored other pedestrians before he approached Thompson from behind.
After the assailant began to fire, his 9 mm pistol jammed but he quickly fixed it and kept firing, Kenny said, another sign of the shooter’s professionalism.
“From watching the video, it does seem that he’s proficient in the use of firearms as he was able to clear the malfunctions pretty quickly,” Kenny said.
The hostels were on Manhattan’s Upper West Side and police were following a tip that the suspect may have stayed at one of the residences, according to a law enforcement official briefed on the investigation. The official requested anonymity because they weren’t authorized to discuss the ongoing search.
According to an employee of Kama Central Park, two detectives arrived at the hostel at 7 a.m. Thursday with a photo of the shooter and asked staff if they recognized the man. They did not, the employee said, and the detectives left soon after. An employee at the nearby HI New York City hostel also confirmed that police had visited the location Thursday, but declined to provide further information.
— Jake Offenhartz
New York Mayor Eric Adams said Thursday the shooter used a silencer — something he’d never encountered in his 22 years as a police officer.
“In all of my years in law enforcement I have never seen a silencer before,” Adams, a retired NYPD captain, said in an appearance on MSNBC’s “Morning Joe.” “And so that was really something that was shocking to us all.”
The masked gunman used ammunition emblazoned with the words “deny,” “defend” and “depose,” a law enforcement official said Thursday. The official was not authorized to publicly discuss details of the ongoing investigation and spoke to The Associated Press on the condition of anonymity.
The words on the ammunition may have been a reference to strategies insurance companies use to try to avoid paying claims.
Investigators recovered several 9 mm shell casings from outside the hotel, NYPD Chief of Detectives Joseph Kenny had said earlier.
— Mike Balsamo, Jake Offenhartz and Michael R. Sisak
The chief executive of UnitedHealthcare, one of the nation’s largest insurers, was killed Wednesday in midtown Manhattan in what police described as a targeted attack by a shooter outside a hotel where the company was holding a conference.
▶ Read more about the key things to know about the fatal attack
Flags fly at half mast in front of UnitedHealthcare headquarters in Minnetonka, Minn., Wednesday Dec. 4, 2024, after its CEO Brian Thompson was shot and killed in New York City. (Jerry Holt/Star Tribune via AP)
This still image from surveillance video obtained by the Associated Press shows the suspect, left, sought in the the killing of UnitedHealthcare CEO Brian Thompson, center, outside a Manhattan hotel where the health insurer was holding an investor conference, Wednesday, Dec. 4, 2024. (AP Photo)