Second Thematic.docx - Overview disadvantages and suggested...

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Overview: disadvantages and suggested petitions in the scheme of free choice in healthcare insurance providers Insurance plays an essential role in the economy, politics, and society. It is a fact that a substantial insurance market is fundamental to any prosperous economy. Currently, Vietnamese insurance system categories two main groups which are social insurance and health insurance. In this review, the author focuses more on the issue of health insurance, namely on the freedom of choice in healthcare insurance providers in Vietnam. The current health insurance in Vietnam is being distributed in two forms: social health insurance and commercial health insurance. To begin with, social health insurance is a non-profit system. It is the State provider who governs this system. Also, every citizen must compulsorily participate in health insurance under the Health Insurance Law. Therefore, the citizens have no other choice but the State provider. In another hand, commercial health insurance (also known as “non-life insurance companies”) operates as a profit system 1 . The level of health insurance distribution depends on income or basic salary. Compare to social health insurance – which has only state provider, both domestic insurers and foreign-invested enterprises can run this type of health insurance. For this reason, there are many choices for the citizens to choose suitable providers freely. Before 2008, the insurance market in Vietnam was not competitive because there were not many commercial insurance providers. It was not until the time when Vietnam officially joined the WTO, along with the introduction of foreign insurers, the competition between new insurers was promoted, more and more new insurance providers have been born since then. There are now 19 healthcare providers in which there are top four insurance companies such as PVI, Bao Viet, PTI, and Liberty. They accounted for 91.4% of total revenue 2 . This development shows a fact that nowadays, people are more concerned about their health than ever before.
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