American Health Insurance Companies Eye China For Business Expansion
A few of the largest U.S. health insurance companies have been setting sights on China to expand their business.
Already, CIGNA, UnitedHealth, WellPoint, and Aetna have opened offices in China, hoping to provide service to citizens of the country.
Even though China provides health insurance for all their citizens, some who can afford it purchase private health plans to supplement or replace their national coverage, reported the Hartford Courant.
But the private health insurance business in China is far from booming. And managed care health insurance (PPOs or HMOs) won’t likely work in the country, wrote the Courant article.
That’s why insurers such as Aetna are exploring other options to offer the Chinese. Aetna, still unsure of the product they will sell, is considering introducing disease management plans. CIGNA offers personal accident and hospital care insurance, along with life insurance.
“It’s small. It’s emerging. It’s a very complicated market,” said Aetna’s President of Global Services, Martha Temple.
