Core Insights - The development of urban customized commercial health insurance (惠民保) in China has transitioned from an expansion phase to a stable iteration phase, with only 9 new products launched in the first seven months of this year, indicating a shift towards more sustainable growth [1][2] Group 1: Market Development - As of July 2023, a total of 313惠民保 products have been launched, with only 9 new products introduced in the first seven months of the year, marking a significant slowdown in growth [1][2] - The number of discontinued惠民保 products has also decreased, with over 70 products discontinued in 2023, but only 12 in the first seven months, suggesting a move towards a stable development phase [2] - Experts believe that the market is transitioning from a rapid expansion phase to a rational development phase, which is seen as a healthy adjustment process [2] Group 2: Pricing and Coverage - Currently, 141惠民保 products adopt a "single pricing" model, with an average price of 95 yuan, a significant increase from approximately 60 yuan in 2021 [3] - The average惠民保 product covers 41 types of special drugs and 28 types of conditions, with over 80% of traditional惠民保 products including special drug coverage, primarily focusing on malignant tumors and rare diseases [3] Group 3: Challenges and Future Directions - The惠民保 system faces challenges such as adverse selection risk, where high-risk individuals are more likely to enroll due to low entry barriers, while healthier individuals are less inclined to participate [4] - Experts suggest that a differentiated pricing strategy could enhance risk matching while maintaining inclusivity, with some cities already exploring this approach [4] - The National Financial Regulatory Administration has emphasized the need for differentiated pricing based on factors like age and health status to improve fairness and adaptability of products [5] - Some惠民保 products are experiencing declining enrollment rates and mismatched operational revenues, primarily due to gaps between product offerings and consumer expectations, particularly among younger demographics [5]