By Brazil Stock Guide – Brazil’s private health-insurance industry expanded again in October, with the number of medical plan beneficiaries reaching 53.3 million, according to data published by Brazil’s National Supplementary Health Agency (ANS).
ANS, the original source of the data, reported an increase of 181,220 active medical-plan contracts from September to October. Dental-only plans also advanced, rising to 35.1 million users, up by 320,000 in the month. The information comes from the regulator’s Sala de Situação, an online dashboard that tracks real-time sector metrics.
Churn Highlights Market Volatility
Subscriber growth occurred despite high turnover. In October alone, ANS recorded 1.2 million new contracts and 1.02 million cancellations, resulting in a 1.92% monthly churn rate.
Over the past 12 months, the sector saw 15.5 million additions against 14.1 million cancellations, pushing annual churn to 27.25%, underscoring the volatility of Brazil’s health-insurance market dominated by operators such as Hapvida (HAPV3.SA) and NotreDame Intermédica (GNDI3.SA).
ANS noted that its beneficiary count measures contracts, not individuals, since a single person may hold multiple plans. Additions include new policyholders, portfolio transfers and voluntary plan changes; cancellations encompass corporate contract terminations, sector exits and deaths. Numbers may be updated retroactively as insurers revise their filings.
All States Report Year-on-Year Growth
Every Brazilian state posted gains in medical-plan membership compared with October 2024. In dental coverage, 20 states recorded growth in the same period.
The largest absolute increases in medical-plan users were seen in:
- São Paulo,
- Rio de Janeiro,
- Minas Gerais,
- Bahia,
- Amazonas.
For dental plans, São Paulo, Rio de Janeiro and Paraná led the expansion. The regulator’s state-by-state breakdown reflects broad nationwide momentum across both medical and dental offerings.
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