Willingness to pay and financing preferences for COVID-19 vaccination in China. Issue 14 (1st April 2021)

• Record Type: Journal Article
• Authors: Wang, Jiahao; Lyu, Yun; Zhang, Haijun; Jing, Rize; Lai, Xiaozhen; Feng, Huangyufei; Knoll, Maria Deloria; Fang, Hai
• Is Part Of: Vaccine. Volume 39:Issue 14(2021)
• Page Start: 1968
• Page End: 1976
• Publication Date: 2021-04-01
• Subjects: SARS-CoV-2 -- COVID-19 -- Vaccine -- Willingness to pay -- Financing; Vaccines -- Periodicals; 615.372
• DOI: 10.1016/j.vaccine.2021.02.060
• Languages: English
• ISSNs: 0264-410X

Abstract

Highlights: The mean willingness to pay for COVID-19 vaccination in China was CNY 254 (USD 36.8). The public stated governments and health insurance needed to pay for the vaccination. Family income, employee size and percpetion of the pandemic development affected WTP. Abstract: Background: The COVID-19 pandemic has caused significant diseases and economic burdens in the world. Vaccines are often considered as a cost-effective way to prevent and control infectious diseases, and the research and development of COVID-19 vaccines have been progressing unprecedently. It is needed to understand individuals' willingness to pay (WTP) among general population, which provides information about social demand, access and financing for future COVID-19 vaccination. Objective: To investigate individuals' WTP and financing mechanism preference for COVID-19 vaccination during the pandemic period in China. Methods: During March 1–18, 2020, we conducted a network stratified random sampling survey with 2058 respondents in China. The survey questionnaires included out-of-pocket WTP, financing mechanism preference as well as basic characteristics of the respondents; risk perception and impact of the COVID-19 pandemic; attitude for future COVID-19 vaccination. Multivariable Tobit regression was used to determine impact factors for respondents' out-of-pocket WTP. Results: The individuals' mean WTP for full COVID-19 vaccination was CNY 254 (USD 36.8) with median of CNY 100 (USD 14.5). Most respondents believed that governments (90.9%) and health insurance (78.0%) needed to pay for some or full portions of COVID-19 vaccination, although 84.3% stated that individuals needed to pay. Annual family income, employee size in the workplace, and whether considering the COVID-19 pandemic in China in a declining trend affected respondents' WTP significantly. Conclusion: The findings demonstrated the individuals' WTP for COVID-19 vaccination in China and their preferences for financing sources from individuals, governments and health insurance. And to suggest an effective and optimal financing strategy, the public health perspective with equal access to COVID-19 vaccination should be prioritized to ensure a high vaccination rate.