SIP Health Cost Index 2025

The SIP HCI provides a ranking of the most important healthcare systems in terms of cost for private medical care, as a reflection on the country-specific insurance premiums paid per year for international private medical insurance. The index includes 50 countries and evaluates the country-based premium assessment of seven globally leading international health insurance providers.

The SIP HCI reflects on the actuarial pricing of seven insurance companies, 50 countries, and three personas with their individual ranking. The individual and cross-persona comparison provides insight into private insurance premium and healthcare cost exposure across different demographics that can be particularly valuable to private individuals, families, and multinational companies when comparing international relocation, insurance, and treatment cost.

This index does not seek to compare insurance premiums and benefits between the referenced international health insurance companies and international health insurance plans. Insurance benefits and services differ between the plans quoted, explaining the differences in premiums for the same persona in the same country. Individual comparison for private individuals or corporate international health insurance should be sought, requiring additional personal information and personal insurance demands and needs to identify the best cover or optimize existing cover.

Persona 1 Ranking – 2025

Persona 2 Ranking – 2025

Persona 3 Ranking – 2025

The SIP HCI is a data-driven tool that compares the healthcare cost levels across a carefully curated selection of countries. Unlike traditional indexes that are based on national healthcare spending or public healthcare cost, this index is focused on the true cost expectation in private healthcare for globally mobile individuals and families.

The index benchmarks countries on the basis of the cost of international private medical insurance (IPMI). Being the health insurance class for executives, wealthy families, and global citizens, IPMI is provided by international insurance companies that operate globally, with insured individuals being domiciled across the world. This allows insurers to have useful comparable insights into what individuals pay for private healthcare across countries. The premiums of international private medical insurance policies are priced mainly on the expected healthcare cost in a specific country, but also taking into account that privately insured individuals may access medical care abroad due to the limitations of the quality of care, or the absence of relevant medical procedures and tests locally in their home country.

In the SIP HCI, for each country the cost of international private medical insurance for several personas is compared between selected insurance providers. The country’s average cost for private medical insurance cover provides an adequate reference point for the true healthcare cost in a country. Taking into consideration the actuarial pricing of several of the most important global insurance companies ensures that outliers in countries where an insurer has less policies, and thus less reliable data, is not impacting the ultimate ranking of countries.

Personas

To ensure a representative and differentiated analysis, three distinct personas were selected to reflect varying demographic, socioeconomic, and healthcare-related profiles. The selection captures diversity across age, gender, and nationality, allowing for comparative insights into the expected healthcare cost. Each persona embodies a typical individual from their demographic group. This differentiation supports a more nuanced interpretation of the data and enhances the relevance of findings across population segments. The SIP HCI is established on the basis of the following three personas.

• Persona 1
  • Date of birth: 01.01.1990 – 35 years
  • Sex: Male
  • Nationality: British
• Persona 2
  • Date of birth: 01.01.1975 – 50 years
  • Sex: Female
  • Nationality: American
• Persona 3
  • Date of birth: 01.01.2001 – 24 years
  • Sex: Female
  • Nationality: Indian

Country selection

The SIP HCI covers 50 countries that are selected based on relevance to expat executives and affluent individuals. This is based on public data and research such as the Wealth Migration research reports by Henley & Partners, as well as proprietary SIP data.

Insurer selection

The selected insurance providers that furnish the reference points for the SIP HCI align with a number of criteria to evaluate their reliability. This includes the reputation of the insurer, as well as availability of high-quality insurance plans that lead to minimal out of pocket costs which are not reflected in the actuarial pricing. Further to that, insurers have to be truly globally operating, offering their insurance plans in the majority of evaluated countries with differentiated pricing to reflect on the different healthcare costs per country.

This index does not seek to compare pricing between individual insurance providers. Where the data indicates differences between the pricing of similar products from different insurers, this does not necessarily indicate that one insurer offers a better proposition than another. Differences may be due to distinction in insurance benefits, area of cover, service levels, or medical network arrangements with healthcare providers. The selected insurers and insurance plans are outlined below:

Local insurance and taxes

Where an insurer offers locally compliant insurance solutions (for example, in Dubai, UAE), the locally compliant product equivalent is calculated.

In some countries Insurance Premium Tax must be applied by insurers, increasing the premium of international private medical insurance in addition to the cost of healthcare. The countries where such taxation applies are listed below:

For the calculation of premium costs in the SIP HCI, these taxes are added.

© 2025 SIP Medical Family Office. All rights reserved. The SIP monogram and SIP Medical Family Office logo and related brand assets are exclusively owned trademarks. All other trademarks, service marks, and logos used in this index are the trademarks, service marks, and logos of their respective owners. No part of this index may be reproduced in any form or by any means without the prior written permission of SIP Medical Family Office. Although the material contained in this index was prepared based on information from public and private sources that SIP believes to be reliable, no representation, warranty, or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and SIP Medical Family Office expressly disclaims any liability for the accuracy and completeness of information contained herein.

This index does not seek to compare insurance premiums and benefits between the referenced international health insurance companies and international health insurance plans. Insurance benefits and services differ between the plans quoted, explaining the differences in premiums for the same persona in the same country. Individual comparison for private individuals or corporate international health insurance should be sought, requiring additional personal information and personal insurance demands and needs to identify the best cover or optimize existing cover. No information in this index shall guarantee that insurance plans are available in the listed countries.

This index is distributed for general informational and educational purposes only and is not intended to any sort of advice. It should not form the basis of any decision. The information contained in this index is not, and shall not constitute an offer to sell, a solicitation of an offer to buy, nor should it be deemed to be an offer, or a solicitation of an offer, to purchase or sell any investment product or service. SIP Medical Family Office is not responsible for the content of websites and information resources that may be referenced in this index. The information contained in this index is believed to be accurate as of the date of publication, but is subject to change without notice. SIP does not have any obligation to provide revisions in the event of changed circumstances. SIP and its affiliates, employees, and agents shall not be liable for any liability or loss whatsoever, including but not limited to direct, indirect, special, incidental, or consequential damages, arising out of or in connection with the use or reliance on the information contained in this index. The information in this index is provided “as is” and SIP makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the information contained in this index for any purpose.

Note: The SIP Health Cost Index was published on 1 December 2025 by SIP Medical Family Office AG, Baarermattstrasse 10, 6340 Baar/Zug, Switzerland; Email mfo@sip.ch