The Effects of Tax Deduction for Health Insurance Premiums on the Insurance and Life Insurance Business Group of Listed Companies in the Stock Exchange of Thailand

Abstract

          This research aims to study the effects of tax deduction for health insurance premiums on the insurance and life insurance business group    of listed companies in the Stock Exchange of Thailand and to study further guidelines for the government to develop tax reduction measures regar ding health insurance premiums for spouses and children. The study con ducted by qualitative approach with 36 samples. Nine interviewees were randomly selected from insurance sellers whereas other 27 interviewees were selected from insurance buyers by using snowball or chain method.  Semi-structured interview was applied as a research tool in this study.                 The findings  revealed  that the insurance sellers viewed that the tax  reduction measures for health insurance premiums affects sales volume with increa sing growth rates and higher trends. The main reason was the popularity of Thai people who are interested in purchasing health insurance for self-protection. However, insurance sellers viewed that the tax reduction measures for health insurance premiums is a supplement factor. There should be additional tax incentive on tax reduction regarding health insurance premiums for spouses and children. For Insurance buyers,the main reason was that they had a desire to buy for their own health  and want to alleviate the tax burden of medical expenses. Consequently, tax deductions became minor reason of purchasing.            In the buyers’opinions, the increasing of tax deduction regarding health insurance premiums for spouses and children will influence health insurance consumption in the future.