Vietnam’s insurance penetration hits 81.7%

January 5 2017 by InsuranceAsia News Staff

There are now more than 76 million people or 81.7% of the population in Vietnam who are covered by health insurance.

The figure is 2.7% up compared to the target set by the Prime Minister, said Deputy General Director of the Vietnam Social Security Nguyen Minh Thao.

At a meeting on administrative reforms and setting tasks for 2017, Thao said that the expenses of social, health and unemployment insurance in 2016 was at VND235.7 trillion (US$10.3 billion).

This is 16.6% higher compared to 2015.

The estimated VND69.41 trillion paid through insurance exceeded the medical insurance fund by VND5.13 trillion.

A total of 76.1 million people were covered under the social, health and unemployment insurance, an increase by 5.9 million from 2015.

A total of 12.9 million people have availed the mandatory social insurance, and 203,000 others have bought the voluntary one.

Another 11.1 million people were covered by unemployment insurance, the official said.


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