An increase of 6.24% was recorded for 2024 by the Annual Adjustment Index (AAI) of long-term health insurance, which was published for the first time by the Hellenic Statistical Authority (ELSTAT), as part of the implementation of law 5170/2025.
This is a new responsibility of ELSTAT, which compiles the index based on data collected from insurance companies, such as the amounts of compensations, the average cost of each claim, the frequency of claims, the exposure to insurance risk, as well as other factors provided for by the relevant legislation. The AAI measures the average annual change in the net cost of coverage in long-term and annually renewable health insurance contracts.
Two indices - with and without age
Because the adjustment of premiums is also linked to the change in the age of the insured, ELSTAT publishes two versions of the index. The index with the effect of age increased by 6.24%, while the index without the effect of age increased by 1.25%.
The difference between the two reflects the impact of the aging of the insured population on the cost of compensations. The 6.24% incorporates this effect, as older ages generally entail higher coverage costs.
In contrast, the 1.25% reflects the change in cost regardless of age, i.e., what is due to factors such as the increase in the cost of health services or the frequency of hospitalizations.
Different picture in the two categories of contracts
In long-term health insurance contracts the index increased by 7.23% with the effect of age and by 1.76% without it. In annually renewable contracts the corresponding changes were 5.36% and 0.79%.
As for the figures, in long-term insurance the total amount of compensations reached 229 million euros in 2024, from 227.7 million euros in 2023, while the average cost per claim increased to 4,938 euros, from 4,563 euros.
In annual contracts, total compensations increased to 254.3 million euros, from 232.4 million euros in 2023. At the same time, exposure to insurance risk, i.e., the number of insured persons, increased to about 708 thousand from 664 thousand a year earlier. At the same time, the average cost per claim decreased marginally, to 3,578 euros from 3,604 euros in 2023.
It is recalled that the AAI was established by law 5170/2025, in order to have a single, objective index for the adjustment of premiums in long-term health programs. ELSTAT will now publish the index on an annual basis, about 12 months after the end of each reference year.
