It has been announced that three insurers with the largest share in the market have requested authorization from the regulator to make adjustments of up to 12% on premiums for health insurance policies.

The Superintendent of Insurance and Reinsurance, José Joaquín Riesen, told Prensa.com that three companies asked to be able to increase premiums for health policies, arguing that the costs of medical services have increased by at least 10% in recent years, while premiums, deductibles and coinsurance have remained in the same price ranges.

Riesen said “… ‘ The increases have to be justified to the Superintendent for approval. Up until now there are three insurers out of the largest in the health insurance sector and they have requested adjustments of around 10% to 12% on premiums. ‘”

“… At a recent conference of the Panamanian Association of Insurers (Apadea) the regulator called for attempts to be made to try to find a solution to this issue. ‘We have to sit down and see what we will do. Not only the government, but also industry and private enterprise. In the end the consumer will not be able to pay these increases . It will not be sustainable. ‘”