Private Health Insurance Consumption and Public Health-Care Provision in OECD Countries: Impact of Culture, Finance, and the Pandemic

In this paper, we investigate private health insurance (PHI) spending in Organisation for Economic Co-operation and Development (OECD) economies for the period 2000–2020, with a focus on the impact of financial, cultural, and health-environment factors. PHI consumption is positively associated with financial development and cultural–social–economic factors, such as income, education, individualism, uncertainty avoidance, and long-term orientation, whereas it is negatively associated with public health spending, masculinity, indulgence, and power distance. In addition, factors related to the health environment, such as the COVID-19 pandemic, have a negative influence on PHI consumption in the selected OECD economies owing to losses in income. Our findings can serve as guidance for consumers and recommendations for health insurers and policymakers in designing health insurance policies and programs in developed and developing countries.