Health Care and Insurance

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Name: Nguyen Hong Hoa
ID:A1127287
International Business Strategy
Assignment 3
Health care and Insurance
1. A Summary of ObamaCare and Insurance
The Affordable Care Act requires that all Americans, purchase a private health care plan, get an exemption or
pay a tax penalty on their year-end taxes. Americans who cannot afford health insurance will most likely either
qualify for Medicare, Medicaid, CHIP or get assistance in the form of tax credits or assistance with up-front costs
through their State's Health Insurance Exchanges (AKA Marketplace), if insurance is still unaffordable after
assistance (costing more than 8% of your families income) you may be exempt from the Individual Mandate.
2. Vietnamese Insurance Market
Life insurance market in Vietnam was actually born, developed and opened in 1996, while the life insurance
business abroad can operate in the market but not until the end of 1999 the business official new life insurance
business was officially put into operation license. Foreign investors from countries around the world and is lobbying
the Government of Vietnam to soon be more accessible to the life insurance market in Vietnam. After Vietnam joined
the WTO, the life insurance company abroad will hopefully soon be licensed establishment companies with 100%
foreign capital.
A market with a population of more than 87 million people and only about 10 % of people have life insurance
contracts . At least 30 % of families in Vietnam have ability of participating an insurance contract.With a high speed
developing economy in Asia, the obvious potential of Vietnam 's insurance market is still large. Vietnam’s Insurance
market with more than 14 life insurance companies from over 30 insurers and non-life insurance industry, which has
created an “Insurance Chaos” in the market .
Life insurance market is estimated to reach more than 21.1 trillion total premium revenue growth over 15% in
2013, is considered the most prominent events of the life insurance operations in the context of the country's general
economic difficulties. However, according to our assessment, the introduction of several important policies, actively
support the long term development of the business of life insurance was the most prominent of the life insurance
market in 2013.
3. Individual opinion about Vietnam’s health insurance market
Life insurance market or Vietnam is a promising market . Vietnam 's economy is growing at a high rate ,
Vietnam's GDP is currently growing at a rate of 8 % / year , Vietnam's population now over 83 million people , of
which , the population aged under 30 account for over 60 % .
Vietnam's life insurance market has developed fast pace and a lot of potential still untapped . According to
statistics , sales of life insurance currently accounts for only 1.6 % of Vietnam's GDP in 2005 was about 2.5 % , and
the Vietnam Ministry of Finance expects revenue will account for over 4 % in 2010 . Meanwhile in the regional life
insurance premium revenue reached about 5-6 % of GDP . In addition, the strategy of economic integration , the
Vietnam 's insurance business was no longer a strange concept .
Moreover, the saving habits of Vietnamese have contributed to the attractiveness of the market .

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