The poverty rate in Indonesia is considered higher that the increase in inflation. The level of the insurance penetration is still considered low. Therefore, starting 2014, Indonesia had introduced JKN (Jaminan Kesehatan Nasional) program from BPJS Kesehatan. The purpose of the program is to touch the low-income population to have the same healthcare as others. By introducing BPJS kesehatan, expected middle-to poor family also covered by insurance, since it was introduced, the population covered by insurance is increased to 76% of the population.
The objective of this study is to accommodate modern industry insurance companies' concern during the period after the implementation of BPJS Kesehatan whether impacting to the company's healthiness. Five insurance companies observed : AMFS, Allianz, Prudential, Sequis life and AIA. The data obtained from audited financial reports during 2010-2018 provided in the company's websites. The data were examined using eight financial ratios analysis and measured the healthiness based on SOE decree no.100/MBU/2002. The statistical t-test were applied to validate the significant differences of the financial performances.
This study shows there were no changes on the companies' healthiness but the score slightly decreased before and after the implementation of BPJS Kesehatan. There were no significantly differences on the financial ratios before and after the implementation of BPJS Kesehatan.
From the studies recommended for the companies to sell more traditional product and prepare investment plan properly for investment placement to increase their revenue.