Demand for health insurance and associated factors among Uganda employers: a case study of AAR Insurance Company
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Most fundamentally, the availability of health insurance enables risk averse employees and entrepreneurs to access high end treatment and health, higher return activities than they would do in the absence of insurance, promoting higher productivity and growth. Therefore, the main purpose of this study was to investigate the demand for health insurance and the associated factors among Ugandan employees. In specific, the study sought to find out the effect of compensation, family size, age of employee, number of hospital visits, type of place of residence and type of insurance cover on the demand for health insurance. The study obtained data from AAR medical insurance company on Compensation/Claim amount, family size, age of patient, number of hospital visits, residence, marital status and type of insurance cover using a cross-sectional approach. The study involved both descriptive and inferential statistics using Stata 15.0 computer software. Consumer’s purchase decisions are highly determined by the compensation amount, higher compensations by the insurance companies attract consumers to buy more insurance covers from the insurance companies. Families with larger members face budget constraints which make them divide the annual premium into smaller units. Furthermore, older persons demand for medical insurance more than the young ones thus their purchase decisions are straight and positive. To enhance the consumer’s purchase insurance decisions, insurance provider need to develop a huge and timely repayment procedure in compensation for the wreckage or damage caused
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