HEALTH CARE INSURANCE PLAN: A COMPARATIVE STUDY

ABSTRACT

This study examined health care insurance plan: a comparative study, with specific objective of investigating the impart of health care insurance plan on economic development. In order to achieve this objective, data were gathered from a total of forty-one (41) African Union Countries spanning through a period of 2000 – 2020. The data comprises of GDP Per Capita (GDPPC), Voluntary Health Insurance (VHI), Population Growth (PG) and Human Development Index (HDI). The data gathered were analyzed using descriptive and correlation analysis with the assistance of Eview 10 Extract. The result from the study revealed that VHI and HDI had a significant and positive relationship with economic development, while Population growth had a negative relationship with economic development. From table 4.2.1 the result revealed that the VHI captured as percentage of current health expenditures with a mean of 5% and standard deviation of 9% revealed that the amount each country spent on VHI is very low. There is need for each country to increase the amount spent on VHI. Based on the result from the study the following recommendations were made. Firstly, African countries should increase the amount spent on Voluntary health insurance. this will go a long way in ensuring that VHI will always have significant impact on economic development. also, Government of each country should ensure that relevant intervention should be taken eradicate difficulties in accessing health care services.