The paper analyses the viability of health microinsurance in Brazil, through the calculation of premiums for various coverages. An original database was used with the microdata of an insurance company with 188,631 individuals. We used three criteria of choice of medical procedures: (a) frequency; (b) combined frequency and severity; and (c) elective and emergency consultations and low complexity examinations. The results indicate that the criterion (c) produced the lowest premiums, for all age groups. But this criterion only includes low complexity procedures and elective and emergency consultations. Some important high severity risks are not included, which can reduce the role of this type of microinsurance in reducing vulnerability and providing protection to low-income people.

Agência Nacional de Saúde Suplementar (ANS) (2014) Caderno de Informação da Saúde Suplementar: benefícios, operadoras e planos, Rio de Janeiro: ANS, p. 28.

Ahuja, R. and Jütting, J. (2004) Are the poor too poor to demand health insurance? Journal of Microfinance 6(1): 1–20 [online] <https://ojs.lib.byu.edu/spc/index.php/ESR/article/view/1442> [accessed 19 January 2016].

Banerjee, A., Duflo, E. and Hornbeck, R. (2014) ‘Bundling health insurance and microfinance in India: there cannot be adverse selection if there is no demand’, American Economic Review 104(5): 291–7 <http://dx.doi.org/10.1257/aer.104.5.291>.

Banthia, A., Johnson, S., McCord, Michael J., and Mathews, B. (2012) ‘Microinsurance that works for women’, in M.J. McCord and M. Matul (eds), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 331–48, Geneva: ILO and Munich Re Foundation.

Bester, H., Chamberlain, D., Hougaard, C. and Smit, H. (2010) Microinsurance in Brazil: Towards a Strategy for Market Development [pdf] Cape Town: Centre for Financial Regulation & Inclusion <http://www.funenseg.org.br/arquivos/00-Microinsurance-Vol%203.indd.pdf> [accessed 19 January 2016].

Bester, H., Chamberlain, D., Hougaard, C. and Smit H. (2011) Microsseguros no Brasil: Buscando uma Estratégia para Desenvolvimento do Mercado [pdf] Rio de Janeiro: Funenseg/CNSeg/Cenfri <http://www.funenseg.org.br/arquivos/01-Microsseguros-Vol%203.indd.pdf> [accessed 19 January 2016].

Biener, C. and Eling, M. (2012) ‘Insurability in microinsurance markets: an analysis of problems and potential solutions’, The Geneva Papers on Risk and Insurance: Issues and Practice 37(1): 77–107 <http://dx.doi.org/10.1057/gpp.2011.29>.

Brazil (2008). Decreto No 6339, de 3 de janeiro de 2008. Brasília. <www.planalto.gov.br/ccivil_03/_Ato2007-2010/2008/Decreto/D6339.htm>. [accessed 06 march 2016].

Chandani, T. (2009) Microinsurance Business Models [pdf], Washington, DC: World Bank <http://siteresources.worldbank.org/EXTFINANCIALSECTOR/Resources/282884-1242281415644/Microinsruance_Business_Models.pdf> [accessed 19 January 2016].

Churchill, C. (2006) ‘What is insurance for the poor?’ in C. Churchill (ed.), Protecting the Poor: A Microinsurance Compendium, pp. 12–24, Geneva: ILO and Munich Re Foundation [pdf] <www.munichre-foundation.org/dms/MRS/Documents/ProtectingthepoorAmicroinsurancecompendiumFullBook.pdf> [accessed 19 January 2016].

Churchill, C. and McCord, M.J. (2012) ‘Current trends in microinsurance’, in C. Churchill & M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 8–39, Geneva: ILO and Munich Re Foundation.

Churchill, C., Dalal, A. and Ling, J. (2014) ‘Better microinsurance for MFIs’, Enterprise Development & Microfinance 25(18): 57–71 <http://dx.doi.org/10.3362/1755-1986.2014.006>.

Dercon, S., Gunning, J.W., Zeitlin, A. and Lombardini, S. (2012) The Impact of a Health Insurance Programme: Evidence from a Randomized Controlled Trial in Kenya [pdf], Geneva: ILO <www.ilo.org/public/english/employment/mifacility/download/repaper24.pdf> [accessed 19 January 2016].

Ekman, B. (2004) ‘Community-based health insurance in low-income countries: a systematic review of the evidence’, Health Policy and Planning 19(5): 249–70 <http://dx.doi.org/10.1093/heapol/czh031>.

Garand, D., Tatin-Jaleran, C., Swiderek, D. and Yang, M. (2012) ‘Pricing of microinsurance products’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 464–83, Geneva: ILO and Munich Re Foundation.

Hamid, S.A., Roberts, J. and Mosley, P. (2011) ‘Can micro health insurance reduce poverty? Evidence from Bangladesh’, Journal of Risk and Insurance 78(1): 57–82 <http://dx.doi.org/10.1111/j.1539-6975.2010.01402.x>.

Instituto de Estudos de Saúde Suplementar (IESS) (2013) Série Histórica Variação dos Custos (%) [pdf], São Paulo: IESS <www.iess.org.br/html/VCMHConsolidado.pdf> [accessed 19 January 2016].

Leatherman, S., Christensen, L.J. and Holtz, J. (2012) ‘Innovations and barriers in health microinsurance’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 112–31, Geneva: ILO and Munich Re Foundation.

McCord, M.J., Opdebeeck, B., Biese, K. and Pandey, M. (2014) ‘“If you can’t measure it, you can’t measure”: microinsurance by the numbers’, Enterprise Development & Microfinance 25(1): 41–56 <http://dx.doi.org/10.3362/1755-1986.2014.005>.

Matul, M., Dalal, A., de Bock, O. and Gelade, W. (2013) ‘Microinsurance demand: determinants and strategies’, Enterprise Development & Microfinance 24(4): 311–27 <http://dx.doi.org/10.3362/1755-1986.2013.029>.

Radeva, I. (2012) Balancing Health Microinsurance [online], Copenhagen Business School, <http://studenttheses.cbs.dk/bitstream/handle/10417/3237/irena_radeva.pdf?sequence=1> [accessed 19 January 2016].

Ramalho, R.L. (2002) Precificação de planos de saúde [online], Florianópolis, Brazil: Universidade Federal de Santa Catarina <https://repositorio.ufsc.br/handle/123456789/82655> [accessed 19 January 2016].

Silva, K.R. and Afonso, L.E. (2013) ‘A study on life microinsurance in Brazil’, Brazilian Business Review 10(3): 130–55 <http://dx.doi.org/10.15728/bbr.2013.10.3.6>.

Sinha, T., Desai, S. and Mahal, A. (2014) ‘Hospitalized for fever? Understanding hospitalization for common illnesses among insured women in a low-income setting’, Health Policy and Planning 29(4): 475–82 <http://dx.doi.org/10.1093/heapol/czt032>.

Valor Econômico (2013) ‘Valor 1000: 1000 maiores empresas e as campeãs em 25 setores e regiões’, Valor Econômico [online], p.1. <www.valor.com.br/valor1000/2013/rankingmaioressegurosaude> [accessed 10 December 2013].

Vicente, K.N. de S. (2011) Análise da viabilidade de implementação e desenvolvimento de Microsseguros de Saúde em Angola (município da Matala) [online], Universidade Técnica de Lisboa <http://hdl.handle.net/10400.5/3370> [accessed 19 January 2016].

Agência Nacional de Saúde Suplementar (ANS) (2014) Caderno de Informação da Saúde Suplementar: benefícios, operadoras e planos, Rio de Janeiro: ANS, p. 28.

Ahuja, R. and Jütting, J. (2004) Are the poor too poor to demand health insurance? Journal of Microfinance 6(1): 1–20 [online] <https://ojs.lib.byu.edu/spc/index.php/ESR/article/view/1442> [accessed 19 January 2016].

Banerjee, A., Duflo, E. and Hornbeck, R. (2014) ‘Bundling health insurance and microfinance in India: there cannot be adverse selection if there is no demand’, American Economic Review 104(5): 291–7 <http://dx.doi.org/10.1257/aer.104.5.291>.

Banthia, A., Johnson, S., McCord, Michael J., and Mathews, B. (2012) ‘Microinsurance that works for women’, in M.J. McCord and M. Matul (eds), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 331–48, Geneva: ILO and Munich Re Foundation.

Bester, H., Chamberlain, D., Hougaard, C. and Smit, H. (2010) Microinsurance in Brazil: Towards a Strategy for Market Development [pdf] Cape Town: Centre for Financial Regulation & Inclusion <http://www.funenseg.org.br/arquivos/00-Microinsurance-Vol%203.indd.pdf> [accessed 19 January 2016].

Bester, H., Chamberlain, D., Hougaard, C. and Smit H. (2011) Microsseguros no Brasil: Buscando uma Estratégia para Desenvolvimento do Mercado [pdf] Rio de Janeiro: Funenseg/CNSeg/Cenfri <http://www.funenseg.org.br/arquivos/01-Microsseguros-Vol%203.indd.pdf> [accessed 19 January 2016].

Biener, C. and Eling, M. (2012) ‘Insurability in microinsurance markets: an analysis of problems and potential solutions’, The Geneva Papers on Risk and Insurance: Issues and Practice 37(1): 77–107 <http://dx.doi.org/10.1057/gpp.2011.29>.

Brazil (2008). Decreto No 6339, de 3 de janeiro de 2008. Brasília. <www.planalto.gov.br/ccivil_03/_Ato2007-2010/2008/Decreto/D6339.htm>. [accessed 06 march 2016].

Chandani, T. (2009) Microinsurance Business Models [pdf], Washington, DC: World Bank <http://siteresources.worldbank.org/EXTFINANCIALSECTOR/Resources/282884-1242281415644/Microinsruance_Business_Models.pdf> [accessed 19 January 2016].

Churchill, C. (2006) ‘What is insurance for the poor?’ in C. Churchill (ed.), Protecting the Poor: A Microinsurance Compendium, pp. 12–24, Geneva: ILO and Munich Re Foundation [pdf] <www.munichre-foundation.org/dms/MRS/Documents/ProtectingthepoorAmicroinsurancecompendiumFullBook.pdf> [accessed 19 January 2016].

Churchill, C. and McCord, M.J. (2012) ‘Current trends in microinsurance’, in C. Churchill & M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 8–39, Geneva: ILO and Munich Re Foundation.

Churchill, C., Dalal, A. and Ling, J. (2014) ‘Better microinsurance for MFIs’, Enterprise Development & Microfinance 25(18): 57–71 <http://dx.doi.org/10.3362/1755-1986.2014.006>.

Dercon, S., Gunning, J.W., Zeitlin, A. and Lombardini, S. (2012) The Impact of a Health Insurance Programme: Evidence from a Randomized Controlled Trial in Kenya [pdf], Geneva: ILO <www.ilo.org/public/english/employment/mifacility/download/repaper24.pdf> [accessed 19 January 2016].

Ekman, B. (2004) ‘Community-based health insurance in low-income countries: a systematic review of the evidence’, Health Policy and Planning 19(5): 249–70 <http://dx.doi.org/10.1093/heapol/czh031>.

Garand, D., Tatin-Jaleran, C., Swiderek, D. and Yang, M. (2012) ‘Pricing of microinsurance products’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 464–83, Geneva: ILO and Munich Re Foundation.

Hamid, S.A., Roberts, J. and Mosley, P. (2011) ‘Can micro health insurance reduce poverty? Evidence from Bangladesh’, Journal of Risk and Insurance 78(1): 57–82 <http://dx.doi.org/10.1111/j.1539-6975.2010.01402.x>.

Instituto de Estudos de Saúde Suplementar (IESS) (2013) Série Histórica Variação dos Custos (%) [pdf], São Paulo: IESS <www.iess.org.br/html/VCMHConsolidado.pdf> [accessed 19 January 2016].

Leatherman, S., Christensen, L.J. and Holtz, J. (2012) ‘Innovations and barriers in health microinsurance’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 112–31, Geneva: ILO and Munich Re Foundation.

McCord, M.J., Opdebeeck, B., Biese, K. and Pandey, M. (2014) ‘“If you can’t measure it, you can’t measure”: microinsurance by the numbers’, Enterprise Development & Microfinance 25(1): 41–56 <http://dx.doi.org/10.3362/1755-1986.2014.005>.

Matul, M., Dalal, A., de Bock, O. and Gelade, W. (2013) ‘Microinsurance demand: determinants and strategies’, Enterprise Development & Microfinance 24(4): 311–27 <http://dx.doi.org/10.3362/1755-1986.2013.029>.

Radeva, I. (2012) Balancing Health Microinsurance [online], Copenhagen Business School, <http://studenttheses.cbs.dk/bitstream/handle/10417/3237/irena_radeva.pdf?sequence=1> [accessed 19 January 2016].

Ramalho, R.L. (2002) Precificação de planos de saúde [online], Florianópolis, Brazil: Universidade Federal de Santa Catarina <https://repositorio.ufsc.br/handle/123456789/82655> [accessed 19 January 2016].

Silva, K.R. and Afonso, L.E. (2013) ‘A study on life microinsurance in Brazil’, Brazilian Business Review 10(3): 130–55 <http://dx.doi.org/10.15728/bbr.2013.10.3.6>.

Sinha, T., Desai, S. and Mahal, A. (2014) ‘Hospitalized for fever? Understanding hospitalization for common illnesses among insured women in a low-income setting’, Health Policy and Planning 29(4): 475–82 <http://dx.doi.org/10.1093/heapol/czt032>.

Valor Econômico (2013) ‘Valor 1000: 1000 maiores empresas e as campeãs em 25 setores e regiões’, Valor Econômico [online], p.1. <www.valor.com.br/valor1000/2013/rankingmaioressegurosaude> [accessed 10 December 2013].

Vicente, K.N. de S. (2011) Análise da viabilidade de implementação e desenvolvimento de Microsseguros de Saúde em Angola (município da Matala) [online], Universidade Técnica de Lisboa <http://hdl.handle.net/10400.5/3370> [accessed 19 January 2016].

Agência Nacional de Saúde Suplementar (ANS) (2014) Caderno de Informação da Saúde Suplementar: benefícios, operadoras e planos, Rio de Janeiro: ANS, p. 28.

Ahuja, R. and Jütting, J. (2004) Are the poor too poor to demand health insurance? Journal of Microfinance 6(1): 1–20 [online] <https://ojs.lib.byu.edu/spc/index.php/ESR/article/view/1442> [accessed 19 January 2016].

Banerjee, A., Duflo, E. and Hornbeck, R. (2014) ‘Bundling health insurance and microfinance in India: there cannot be adverse selection if there is no demand’, American Economic Review 104(5): 291–7 <http://dx.doi.org/10.1257/aer.104.5.291>.

Banthia, A., Johnson, S., McCord, Michael J., and Mathews, B. (2012) ‘Microinsurance that works for women’, in M.J. McCord and M. Matul (eds), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 331–48, Geneva: ILO and Munich Re Foundation.

Bester, H., Chamberlain, D., Hougaard, C. and Smit, H. (2010) Microinsurance in Brazil: Towards a Strategy for Market Development [pdf] Cape Town: Centre for Financial Regulation & Inclusion <http://www.funenseg.org.br/arquivos/00-Microinsurance-Vol%203.indd.pdf> [accessed 19 January 2016].

Bester, H., Chamberlain, D., Hougaard, C. and Smit H. (2011) Microsseguros no Brasil: Buscando uma Estratégia para Desenvolvimento do Mercado [pdf] Rio de Janeiro: Funenseg/CNSeg/Cenfri <http://www.funenseg.org.br/arquivos/01-Microsseguros-Vol%203.indd.pdf> [accessed 19 January 2016].

Biener, C. and Eling, M. (2012) ‘Insurability in microinsurance markets: an analysis of problems and potential solutions’, The Geneva Papers on Risk and Insurance: Issues and Practice 37(1): 77–107 <http://dx.doi.org/10.1057/gpp.2011.29>.

Brazil (2008). Decreto No 6339, de 3 de janeiro de 2008. Brasília. <www.planalto.gov.br/ccivil_03/_Ato2007-2010/2008/Decreto/D6339.htm>. [accessed 06 march 2016].

Chandani, T. (2009) Microinsurance Business Models [pdf], Washington, DC: World Bank <http://siteresources.worldbank.org/EXTFINANCIALSECTOR/Resources/282884-1242281415644/Microinsruance_Business_Models.pdf> [accessed 19 January 2016].

Churchill, C. (2006) ‘What is insurance for the poor?’ in C. Churchill (ed.), Protecting the Poor: A Microinsurance Compendium, pp. 12–24, Geneva: ILO and Munich Re Foundation [pdf] <www.munichre-foundation.org/dms/MRS/Documents/ProtectingthepoorAmicroinsurancecompendiumFullBook.pdf> [accessed 19 January 2016].

Churchill, C. and McCord, M.J. (2012) ‘Current trends in microinsurance’, in C. Churchill & M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 8–39, Geneva: ILO and Munich Re Foundation.

Churchill, C., Dalal, A. and Ling, J. (2014) ‘Better microinsurance for MFIs’, Enterprise Development & Microfinance 25(18): 57–71 <http://dx.doi.org/10.3362/1755-1986.2014.006>.

Dercon, S., Gunning, J.W., Zeitlin, A. and Lombardini, S. (2012) The Impact of a Health Insurance Programme: Evidence from a Randomized Controlled Trial in Kenya [pdf], Geneva: ILO <www.ilo.org/public/english/employment/mifacility/download/repaper24.pdf> [accessed 19 January 2016].

Ekman, B. (2004) ‘Community-based health insurance in low-income countries: a systematic review of the evidence’, Health Policy and Planning 19(5): 249–70 <http://dx.doi.org/10.1093/heapol/czh031>.

Garand, D., Tatin-Jaleran, C., Swiderek, D. and Yang, M. (2012) ‘Pricing of microinsurance products’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 464–83, Geneva: ILO and Munich Re Foundation.

Hamid, S.A., Roberts, J. and Mosley, P. (2011) ‘Can micro health insurance reduce poverty? Evidence from Bangladesh’, Journal of Risk and Insurance 78(1): 57–82 <http://dx.doi.org/10.1111/j.1539-6975.2010.01402.x>.

Instituto de Estudos de Saúde Suplementar (IESS) (2013) Série Histórica Variação dos Custos (%) [pdf], São Paulo: IESS <www.iess.org.br/html/VCMHConsolidado.pdf> [accessed 19 January 2016].

Leatherman, S., Christensen, L.J. and Holtz, J. (2012) ‘Innovations and barriers in health microinsurance’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 112–31, Geneva: ILO and Munich Re Foundation.

McCord, M.J., Opdebeeck, B., Biese, K. and Pandey, M. (2014) ‘“If you can’t measure it, you can’t measure”: microinsurance by the numbers’, Enterprise Development & Microfinance 25(1): 41–56 <http://dx.doi.org/10.3362/1755-1986.2014.005>.

Matul, M., Dalal, A., de Bock, O. and Gelade, W. (2013) ‘Microinsurance demand: determinants and strategies’, Enterprise Development & Microfinance 24(4): 311–27 <http://dx.doi.org/10.3362/1755-1986.2013.029>.

Radeva, I. (2012) Balancing Health Microinsurance [online], Copenhagen Business School, <http://studenttheses.cbs.dk/bitstream/handle/10417/3237/irena_radeva.pdf?sequence=1> [accessed 19 January 2016].

Ramalho, R.L. (2002) Precificação de planos de saúde [online], Florianópolis, Brazil: Universidade Federal de Santa Catarina <https://repositorio.ufsc.br/handle/123456789/82655> [accessed 19 January 2016].

Silva, K.R. and Afonso, L.E. (2013) ‘A study on life microinsurance in Brazil’, Brazilian Business Review 10(3): 130–55 <http://dx.doi.org/10.15728/bbr.2013.10.3.6>.

Sinha, T., Desai, S. and Mahal, A. (2014) ‘Hospitalized for fever? Understanding hospitalization for common illnesses among insured women in a low-income setting’, Health Policy and Planning 29(4): 475–82 <http://dx.doi.org/10.1093/heapol/czt032>.

Valor Econômico (2013) ‘Valor 1000: 1000 maiores empresas e as campeãs em 25 setores e regiões’, Valor Econômico [online], p.1. <www.valor.com.br/valor1000/2013/rankingmaioressegurosaude> [accessed 10 December 2013].

Vicente, K.N. de S. (2011) Análise da viabilidade de implementação e desenvolvimento de Microsseguros de Saúde em Angola (município da Matala) [online], Universidade Técnica de Lisboa <http://hdl.handle.net/10400.5/3370> [accessed 19 January 2016].

Agência Nacional de Saúde Suplementar (ANS) (2014) Caderno de Informação da Saúde Suplementar: benefícios, operadoras e planos, Rio de Janeiro: ANS, p. 28.

Ahuja, R. and Jütting, J. (2004) Are the poor too poor to demand health insurance? Journal of Microfinance 6(1): 1–20 [online] <https://ojs.lib.byu.edu/spc/index.php/ESR/article/view/1442> [accessed 19 January 2016].

Banerjee, A., Duflo, E. and Hornbeck, R. (2014) ‘Bundling health insurance and microfinance in India: there cannot be adverse selection if there is no demand’, American Economic Review 104(5): 291–7 <http://dx.doi.org/10.1257/aer.104.5.291>.

Banthia, A., Johnson, S., McCord, Michael J., and Mathews, B. (2012) ‘Microinsurance that works for women’, in M.J. McCord and M. Matul (eds), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 331–48, Geneva: ILO and Munich Re Foundation.

Bester, H., Chamberlain, D., Hougaard, C. and Smit, H. (2010) Microinsurance in Brazil: Towards a Strategy for Market Development [pdf] Cape Town: Centre for Financial Regulation & Inclusion <http://www.funenseg.org.br/arquivos/00-Microinsurance-Vol%203.indd.pdf> [accessed 19 January 2016].

Bester, H., Chamberlain, D., Hougaard, C. and Smit H. (2011) Microsseguros no Brasil: Buscando uma Estratégia para Desenvolvimento do Mercado [pdf] Rio de Janeiro: Funenseg/CNSeg/Cenfri <http://www.funenseg.org.br/arquivos/01-Microsseguros-Vol%203.indd.pdf> [accessed 19 January 2016].

Biener, C. and Eling, M. (2012) ‘Insurability in microinsurance markets: an analysis of problems and potential solutions’, The Geneva Papers on Risk and Insurance: Issues and Practice 37(1): 77–107 <http://dx.doi.org/10.1057/gpp.2011.29>.

Brazil (2008). Decreto No 6339, de 3 de janeiro de 2008. Brasília. <www.planalto.gov.br/ccivil_03/_Ato2007-2010/2008/Decreto/D6339.htm>. [accessed 06 march 2016].

Chandani, T. (2009) Microinsurance Business Models [pdf], Washington, DC: World Bank <http://siteresources.worldbank.org/EXTFINANCIALSECTOR/Resources/282884-1242281415644/Microinsruance_Business_Models.pdf> [accessed 19 January 2016].

Churchill, C. (2006) ‘What is insurance for the poor?’ in C. Churchill (ed.), Protecting the Poor: A Microinsurance Compendium, pp. 12–24, Geneva: ILO and Munich Re Foundation [pdf] <www.munichre-foundation.org/dms/MRS/Documents/ProtectingthepoorAmicroinsurancecompendiumFullBook.pdf> [accessed 19 January 2016].

Churchill, C. and McCord, M.J. (2012) ‘Current trends in microinsurance’, in C. Churchill & M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 8–39, Geneva: ILO and Munich Re Foundation.

Churchill, C., Dalal, A. and Ling, J. (2014) ‘Better microinsurance for MFIs’, Enterprise Development & Microfinance 25(18): 57–71 <http://dx.doi.org/10.3362/1755-1986.2014.006>.

Dercon, S., Gunning, J.W., Zeitlin, A. and Lombardini, S. (2012) The Impact of a Health Insurance Programme: Evidence from a Randomized Controlled Trial in Kenya [pdf], Geneva: ILO <www.ilo.org/public/english/employment/mifacility/download/repaper24.pdf> [accessed 19 January 2016].

Ekman, B. (2004) ‘Community-based health insurance in low-income countries: a systematic review of the evidence’, Health Policy and Planning 19(5): 249–70 <http://dx.doi.org/10.1093/heapol/czh031>.

Garand, D., Tatin-Jaleran, C., Swiderek, D. and Yang, M. (2012) ‘Pricing of microinsurance products’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 464–83, Geneva: ILO and Munich Re Foundation.

Hamid, S.A., Roberts, J. and Mosley, P. (2011) ‘Can micro health insurance reduce poverty? Evidence from Bangladesh’, Journal of Risk and Insurance 78(1): 57–82 <http://dx.doi.org/10.1111/j.1539-6975.2010.01402.x>.

Instituto de Estudos de Saúde Suplementar (IESS) (2013) Série Histórica Variação dos Custos (%) [pdf], São Paulo: IESS <www.iess.org.br/html/VCMHConsolidado.pdf> [accessed 19 January 2016].

Leatherman, S., Christensen, L.J. and Holtz, J. (2012) ‘Innovations and barriers in health microinsurance’, in C. Churchill and M. Matul (eds.), Protecting the Poor: A Microinsurance Compendium. Volume II, pp. 112–31, Geneva: ILO and Munich Re Foundation.

McCord, M.J., Opdebeeck, B., Biese, K. and Pandey, M. (2014) ‘“If you can’t measure it, you can’t measure”: microinsurance by the numbers’, Enterprise Development & Microfinance 25(1): 41–56 <http://dx.doi.org/10.3362/1755-1986.2014.005>.

Matul, M., Dalal, A., de Bock, O. and Gelade, W. (2013) ‘Microinsurance demand: determinants and strategies’, Enterprise Development & Microfinance 24(4): 311–27 <http://dx.doi.org/10.3362/1755-1986.2013.029>.

Radeva, I. (2012) Balancing Health Microinsurance [online], Copenhagen Business School, <http://studenttheses.cbs.dk/bitstream/handle/10417/3237/irena_radeva.pdf?sequence=1> [accessed 19 January 2016].

Ramalho, R.L. (2002) Precificação de planos de saúde [online], Florianópolis, Brazil: Universidade Federal de Santa Catarina <https://repositorio.ufsc.br/handle/123456789/82655> [accessed 19 January 2016].

Silva, K.R. and Afonso, L.E. (2013) ‘A study on life microinsurance in Brazil’, Brazilian Business Review 10(3): 130–55 <http://dx.doi.org/10.15728/bbr.2013.10.3.6>.

Sinha, T., Desai, S. and Mahal, A. (2014) ‘Hospitalized for fever? Understanding hospitalization for common illnesses among insured women in a low-income setting’, Health Policy and Planning 29(4): 475–82 <http://dx.doi.org/10.1093/heapol/czt032>.

Valor Econômico (2013) ‘Valor 1000: 1000 maiores empresas e as campeãs em 25 setores e regiões’, Valor Econômico [online], p.1. <www.valor.com.br/valor1000/2013/rankingmaioressegurosaude> [accessed 10 December 2013].

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