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The Drivers Of Voluntary Private Health Insurance Demand In European Countries

Author

Listed:
  • Marijana Curak

    (University of Split)

  • Dujam Kovac

    (University of Split)

  • Klime Poposki

    (University of St. Kliment Ohridski, Ohrid, N. Macedonia)

Abstract

During the pandemic, health care services have gained in importance. One of the ways used to finance these services is through voluntary private health insurance. Existing studies on the demand for voluntary private health insurance are based predominantly on the micro-economic level. Therefore, the aim of this paper is to analyse the factors of demand at the macro-economic level. The analysis covers economic and demographic factors, the quality of the public health care system, risk aversion and the status of the population’s health. The empirical research is based on the databases of 29 European countries in the period from 2013 to 2017 and on the dynamic panel model. The results of the empirical analysis revealed that income, price, urbanization, health care system quality, risk aversion/education and self-perceived health are important determinants of demand for voluntary private health insurance in European countries.

Suggested Citation

  • Marijana Curak & Dujam Kovac & Klime Poposki, 2021. "The Drivers Of Voluntary Private Health Insurance Demand In European Countries," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 30(2), pages 457-474, december.
    • Handle: RePEc:avo:emipdu:v:30:y:2021:i:2:p:457-474
    DOI: 10.17818/EMIP/2021/2.7
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    References listed on IDEAS

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    More about this item

    Keywords

    insurance demand; voluntary private health insurance; dynamic panel analysis; European countries;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G52 - Financial Economics - - Household Finance - - - Insurance
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private

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