Health is fundamental to a good quality of life. Taking care of it is not a passing trend but a necessity, and we are all increasingly aware not only of its importance but also of the value of prevention. Even so, no one is exempt from suffering an illness or a mishap that puts their health at risk.

Many countries have universal health coverage, understood according to the World Health Organization as “access to quality health services without causing severe economic difficulties for individuals or families.” However, this privilege is not enjoyed globally, so where it does not exist, people face an economic threat in the event of illness or an accident.

When we seek peace of mind, one of the first things that comes to our mind is insurance. In the field of health, and from an international perspective, health insurance typically plays a complementary role to public systems, especially in contexts where universal coverage does not fully protect against out-of-pocket expenses or where waiting times and access constraints limit services.

Reasons for taking out a policy

If you are considering taking out a health insurance policy, here are the main advantages of doing so:

– Financial security against unforeseen events: when medical care can entail high expenses, insurance protects against unexpected payments.

– Priority access to services: having a policy reduces waiting times for receiving care and facilitates access to medical specialties when necessary.

– Personalized services: choice of doctors, clinics, or hospitals with greater flexibility.

– Coverage tailored to your needs: insurance can protect exactly what you need, with coverage suitable for each case.

– Cutting-edge technology: private healthcare has advanced techniques and technologies at the service of patients.

– Preventive medicine: many insurance plans include prevention programs, medical monitoring, or regular check-ups that help improve long-term health.

The reach of insurance

Data on health insurance penetration varies by geography. For example, in the United States, where there is no public health system, as reported by its own state sources, there are more than 200 million people with private policies.

In other places where there is a public health service, such as Spain, there are more than 12 million insured people, as reflected in the 2024 Social Report by UNESPA. According to the Organisation for Economic Co-operation and Development (OECD), in 9 of the 29 countries that make it up, more than half of the population had some type of private health insurance in 2024.

In Latin America, each country manages its own statistics, and private insurance is diverse and fragmented. In Brazil, as indicated by the National Supplementary Health Agency, in 2023, 26% of the population had private health insurance. In Chile, according to official data from the Ministry of Health and the Superintendency of Health, the ISAPRE system—which acts as private health insurers—covers about 15% of the population. In Argentina, the Superintendency of Health Services estimates that 14% of its inhabitants have access to private health services.

Meanwhile, in countries like Mexico the public health system is the main coverage mechanism, so the Mexican Institute of Social Security estimates that only about 5-8% have a policy of this type. In Colombia or Peru, the situation is similar, according to their state sources.

Unstoppable growth

In recent years, health policies have increased globally. Studies by the WHO reveal that this deployment has a lot to do with population aging, the increase in chronic diseases, and the limitations of public systems, but also with the evolution of the insurance market. The Healthcare Insurance Market Size report by Grand View Research forecasts annual growth of between 5 and 10% in the next decade.

At Mapfre, aware of the population’s needs and always willing to preserve health, we design policies to take care of people. That is why we offer the medical guarantees needed at any given moment, customizing healthcare assistance in detail.

If you are considering taking out a policy, do not doubt the benefits it can have for you and your family. Remember that your peace of mind is what matters most—it can be essential to protecting both your well-being and your finances, and to ensuring you receive quality care when you need it most.