NN Asigurari de Viata (NN Life Insurance), has entered the Romanian private health insurance market with the launch of the NN Asigurarea de Sanatate (health insurance) product for individuals, event that took place earlier today, World Health Day.
In terms of the NN expectations for their new product, the aim is that “in the next two years at least 10 percent of business, meaning new insurance policies, to be from health insurance”, said Marius Popescu, general director NN Asigurari de Viata. In terms of the overall Romanian market for private health insurance, “in 2015, it went up by 25 percent in Romania, and this year it could increase by 30 percent,” added Popescu.
In Romania, the weight of private health insurances in the country’s GDP is of 0.01 percent, below Bulgaria (0.08 percent). “Romanians are passive in their relationship to health,” said Popescu. “They do very little prevention and very little or not at all any protection,” he further said.
The NN health insurance’s main component, the protection one, can either cover hospitalisation and surgery in case of accidents or hospitalisation and surgery in case of both accidents and illness. The maximum sum ensured is of RON 100,000 (EUR 22,390) per year and it covers, through direct settlement, medical expenses attained at the hospitals in the NN network. Currently, there are four such hospitals in Bucharest, two in Brasov and one in Constanta, with NN being in talks to add another 10 national hospitals to their network, and four Hungarian hospitals.
The costs of seeking medical services in hospitals outside the network, in Romania and internationally, are covered up to 80 percent, limited to certain sums depending on the type of medical service necessary.
Additionally to the main protection component, customers can opt for the prevention option, which comes in three varieties, standard, medium and advanced. All three versions cover the annual medical checkup, but vary in terms of the number of general consults included and the discount given to patients on additional consultations or investigations (4 general consults for the standard to 12 general or specialised consults for the advanced, and 20-30 percent discount for the standard to 50-70 percent discount for the advanced option).
The NN health insurance policy can be signed by any person aged up to 60 years and it can cover 10 persons at the same time, including children aged 0 to 17. As for pricing, a 35-year-old person would pay RON 56 per month for the minimum package that covers medical services in case of hospitalisation and surgery due to an accident. At the other end of the spectrum, the same person would pay RON 221 for the package with the wides coverage, including hospitalisation and surgery due to both accident and illness, and the prevention option.