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Best Health Insurance in Iceland

4 insurers ranked and reviewed · Updated May 2026

Sources:FME Annual ReportsStatistics Iceland

Healthcare System Overview

Iceland operates a universal, tax-funded public healthcare system managed by Icelandic Health Insurance (Sjukratryggingar Islands). All legal residents are automatically covered after six months of continuous residence. The system uses co-payments with monthly and annual cost caps. Coverage includes GP visits, specialist care, hospital treatment, maternity, and subsidized prescriptions. There are no private hospitals in Iceland; private healthcare is limited to specialist clinics near Reykjavik. Private insurance is primarily used during the 6-month waiting period and for supplementary coverage.

#1

Icelandic Health Insurance (Sjukratryggingar Islands)

Sjukratryggingar Islands

public390K members
82Score
Universal Coverage: All Residents (After 6-Month Wait)(2025)
4.0satisfaction

Coverage

Universal (after 6-month residency)

Co Payments

Monthly and annual cost caps

Hospitals

Landspitali (Reykjavik) + Akureyri Hospital

  • Universal comprehensive coverage for all legal residents
  • Co-payment model with monthly and annual cost caps
  • Two major hospital hubs: Landspitali (Reykjavik) and Akureyri Hospital
  • Seven health regions with ~60 local health centres
#2

VIS Insurance

Vatryggingafelag Islands hf.

private
76Score
FME: Leading Icelandic Non-Life Insurer (Since 1917)(2025)
3.7satisfaction

Gap Coverage

Covers 6-month waiting period for new residents

Employees

~109

Roots

Brunabotafelag Islands (1917) + Samvinnurygginga (1946)

  • Domestic medical cost insurance covering the 6-month waiting period
  • Life and health insurance products
  • Serves individuals, families, companies, institutions, and municipalities
  • Roots dating back to 1917
#3

TM Insurance

Tryggingamidstödin hf. (TM)

private
75Score
FME: Leading Icelandic Insurance Company (Since 1956)(2025)
3.7satisfaction

Founded

1956

Digital Services

Yes

Client Types

Individuals and businesses

  • Leading Icelandic insurance company (since 1956)
  • Comprehensive insurance for individuals and businesses
  • Home, travel, and health insurance products
  • Digital services platform
#4

Sjova General Insurance

Sjova-Almennar tryggingar hf.

private
74Score
FME: Publicly Listed Insurer (ICE, Since 1918)(2025)
3.6satisfactionFinancial strength: Listed on Icelandic Stock Exchange (ICE)

Listing

Icelandic Stock Exchange (ICE)

Online Purchase

Yes (medical cost insurance)

History

Roots back to 1918

  • One of four commercial insurers selling health plans in Iceland
  • Medical cost insurance available for online purchase
  • Listed on Icelandic Stock Exchange (transparency)
  • Over 100 years of insurance history

About Health Insurance in Iceland

Iceland operates a universal, tax-funded public healthcare system managed by Icelandic Health Insurance (Sjukratryggingar Islands). All legal residents are automatically covered after six months of continuous residence. The system uses co-payments with monthly and annual cost caps. Coverage includes GP visits, specialist care, hospital treatment, maternity, and subsidized prescriptions. There are no private hospitals in Iceland; private healthcare is limited to specialist clinics near Reykjavik. Private insurance is primarily used during the 6-month waiting period and for supplementary coverage.

Our editorial team has evaluated and ranked the top 4 health insurers in Iceland based on editorial ratings from trusted sources, customer satisfaction, financial strength, and coverage quality. Rankings are updated regularly to reflect the latest market changes.

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