Health insurance prices in Georgia are increasing amid rising healthcare costs. According to official Geostat data, the cost of health insurance rose by 8.5% year-on-year in October.
Healthcare inflation accelerated to 8.4% in October. During the reporting period, the prices of certain medicines and medical services increased by 5% to 15% annually, while outpatient services became almost 12% more expensive compared to the same period last year.
Mikheil Japaridze, CEO of insurance company ARDI, said that price increases vary between insurers depending on the types of medical services they purchase. In ARDI’s case, insurance premiums have been rising steadily by around 10% this year. He noted that the company seeks to avoid sudden price hikes by gradually adjusting premiums to higher healthcare costs.
Japaridze added that some competing insurers have introduced more immediate price increases, possibly because they had delayed passing on higher medical costs in previous periods, resulting in larger adjustments now.
