Core Viewpoint - The National Financial Regulatory Administration has issued a notice to promote the high-quality development of urban commercial health insurance, emphasizing its inclusive nature while maintaining commercial attributes and adhering to insurance principles [1][2]. Group 1: Policy Requirements - The notice requires urban commercial health insurance, known as "惠民保," to focus on inclusivity, ensuring low entry barriers, low premiums, and high coverage to meet diverse health protection needs [1]. - Insurance companies are urged to optimize product offerings based on the quality medical protection needs of the public, incorporating new medical technologies, drugs, and equipment into coverage [1]. Group 2: Commercial Attributes - Urban commercial health insurance must adhere to market-oriented and legal principles, allowing companies to operate independently while ensuring voluntary participation from the public [2]. - The notice emphasizes the need for differentiated pricing based on factors such as age, gender, and health status, moving away from the previous uniform pricing model [2]. Group 3: Competition and Market Conduct - The notice prohibits "involutionary" competition among insurance companies, mandating fair competition and the enhancement of product and service diversity [3]. - Companies are not allowed to engage in low-price, disorderly competition or set pre-determined compensation rates, ensuring compliance with commercial insurance principles [3]. Group 4: Market Impact - Analysts predict that leading insurance companies that effectively transition their life insurance channels and products will benefit significantly, especially those with strong health insurance service systems [3].

Core Viewpoint - The new regulatory guidelines emphasize the importance of balancing the inclusive nature and commercial attributes of urban commercial health insurance (惠民保), aiming for sustainable development while adhering to market principles [1][5]. Group 1: Regulatory Guidelines - The Financial Regulatory Bureau issued a notification on July 31, requiring urban commercial health insurance to focus on inclusivity while maintaining its commercial nature [1]. - The notification mandates that insurance companies optimize product offerings to meet diverse health protection needs, ensuring broad coverage and reasonable premiums [2][5]. - Insurance companies are instructed to base pricing on reliable historical data, ensuring fair and differentiated pricing according to factors like age, gender, and health status [3][5]. Group 2: Market Competition - The notification prohibits "involution-style" competition, urging insurance companies to avoid chaotic price wars and maintain fair competition [4][5]. - Companies must enhance product diversity and adhere to internal control management during product development, sales, and claims processes [4]. - Sales practices must be transparent, with clear communication of product functions and obligations to prevent misleading information [4][5]. Group 3: Long-term Development - Experts believe the guidelines aim to curb unhealthy competition and ensure service quality, promoting the long-term health of 惠民保 [5]. - The focus is on transitioning from short-term expansion to long-term value creation, supporting a multi-tiered medical insurance system [5].

Core Viewpoint - The National Financial Regulatory Administration has issued a notice to promote the high-quality development of urban commercial health insurance, emphasizing the need for inclusive positioning, adherence to commercial attributes, and precise pricing in accordance with insurance principles [1][3]. Group 1: Urban Commercial Health Insurance Characteristics - Urban commercial health insurance, known as "Hui Min Bao," is characterized by low entry barriers, low premiums, and high coverage, developed rapidly in recent years to meet diverse health protection needs [1][3]. - The insurance industry is encouraged to optimize product offerings based on people's needs, incorporating new medical technologies and treatments into coverage [1][2]. Group 2: Pricing and Risk Management - The notice mandates that urban commercial health insurance should follow the principle of risk pricing, implementing differentiated pricing based on factors such as age, gender, and health status [2][3]. - Insurance companies are required to base pricing on historical data and relevant medical information to ensure accurate and fair pricing [2][4]. Group 3: Market Development and Sustainability - The urban commercial health insurance sector has seen significant growth, with projected premium income nearing 1 trillion yuan in 2024 and an average annual growth rate of about 20% over the past decade [2]. - The notice aims to address sustainability risks in the rapid expansion of urban commercial health insurance, ensuring consumer protection and promoting sustainable business practices [3][5].

Core Viewpoint - The Financial Regulatory Bureau issued a notice to promote the high-quality development of urban commercial health insurance, emphasizing its inclusive nature and commercial attributes to ensure sustainable growth [1][4]. Group 1: Development and Challenges - Urban commercial health insurance, known as "Hui Min Bao," has rapidly developed in recent years, with 168 million participants, effectively meeting public healthcare needs [2]. - Despite its growth, the commercial sustainability of Hui Min Bao faces challenges, including a low overall participation rate of about 5%, which may lead to adverse selection and financial instability [3]. Group 2: Regulatory Guidelines - The notice outlines several guidelines to enhance the sustainable development of Hui Min Bao, including optimizing product supply, expanding coverage, and ensuring fair pricing [4][5]. - Insurance companies are required to adopt risk-based pricing, considering factors such as age, gender, and health status to improve product fairness and adaptability [5][6]. Group 3: Market Dynamics - The notice reiterates the commercial nature of Hui Min Bao, mandating that insurance companies operate independently while ensuring consumer protection and satisfaction [6]. - It also prohibits low-price, chaotic competition among insurers to promote high-quality development in urban commercial health insurance [6].

Core Viewpoint - The National Financial Regulatory Administration has issued a notice to promote the high-quality development of urban commercial health insurance, emphasizing its inclusive nature while maintaining its commercial attributes and adhering to insurance regulations [1][2]. Group 1: Urban Commercial Health Insurance Overview - Urban commercial health insurance, known as "Hui Min Bao," is guided by local governments and operated by insurance companies, designed to complement basic medical insurance with low entry barriers, low premiums, and high coverage [1]. - The rapid development of urban commercial health insurance in various regions meets the diverse health protection needs of the population [1]. Group 2: Policy Requirements - The notice mandates that urban commercial health insurance should focus on inclusivity, optimizing product supply to ensure broad coverage, reasonable premiums, and effective protection [1]. - Insurance companies are required to operate autonomously while ensuring voluntary participation from the public, aligning premium collection with the level of coverage provided [1]. Group 3: Pricing and Data Insights - Urban commercial health insurance must implement precise pricing based on risk-sharing principles, considering factors such as age, gender, and health status for differentiated pricing [2]. - The commercial health insurance premium income in China is projected to reach nearly 1 trillion yuan in 2024, with 6.223 billion yuan collected in the first half of 2025, reflecting an average annual growth rate of approximately 20% over the past decade [2]. - Cumulative claims paid amount to 2.6 trillion yuan, with over 2.5 trillion yuan in long-term liability reserves accumulated, indicating a robust future health protection reserve for the population [2].

在坚持普惠性同时，城市商业医疗险也应当遵循市场化、法治化原则。《通知》指出，坚持保险公司自主经营，人民群众自愿投保。各公司要按 照商业保险的基本原则和客观规律开展业务，坚持保费收取与保障程度相适配、扩面提质与商业可持续发展相结合，以规范经营和诚信服务促进 业务健康发展，不断提升保险消费者满意度。各地保险业协会要发挥自律组织作用，加强健康保险宣传和政策解读，塑造可信赖、能托付、有温 度的保险业良好形象。 在产品定价方面，《通知》提到，保险公司应当围绕目标客户需求，合理拟定城市商业医疗险的保险责任、责任免除等重要条款内容。要根据充 分可靠的疾病发生率、赔付率、费用率等历史数据，科学厘定保险费率，并在产品精算报告中详细列示。要遵循风险对价原则，实现差异化定 价，原则上应当基于不同群体的年龄、性别、健康状况等因素进行相应的责任分级或费率分组，不断提升产品和服务的公平性和适配性。对于首 次纳入保险合同的责任，应当基于历史经验数据和医疗、医保、医药等相关方提供的基础数据，科学准确定价。 在各地惠民保加速上新之际，监管新规出炉。7月31日，金融监管总局向各保险公司印发《关于推动城市商业医疗险高质量发展的通知》（以下简 称《 ...