Hong Kong is projected to see the lowest medical trend costs at 5.3% in 2021 due to a decrease in elective surgeries and outpatient routines.
In China, the medical trend rate in 2021 is expected to be 7%. COVID-19 has resulted in better self-protection measures taken by patients, decreasing the incidence ratio of common diagnoses.
Health plans saw significantly less utilisation in 2020 as people avoided hospitals in fear of COVID-19 infection and delayed their elective procedures.
In Asia Pacific, cardiovascular, gastrointestinal, and musculoskeletal diseases, cancer, and ear, nose & throat (ENT) issues are the most prevalent health conditions driving healthcare claims.
To mitigate medical costs by reducing chronic conditions, employers in Asia Pacific must invest in wellbeing programmes to promote mental health, physical activity, healthy eating, and preventive strategies like physical check-ups and screenings.
Asia advisers network