International Health Insurance

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Currently, there are a large selection insurers offering a very wide variety of health insurance plans for individuals and families. The people in Hong Kong benefit from many choices in cover and companies, and they benefit from competitive pricing.

Why International Health Insurance?

Hong Kong residents have many different reasons to consider an international health plan. In most cases, a private health insurance plan will provide better and quicker diagnosis than a local or national health care system. The individual plan will also reduce or eliminate usual waiting periods and provide access to specialist drugs not available through a national plan.

When you are diagnosed with a serious illness, the last thing you want to experience is waiting for treatment, or for a bed in a public facility. Private medical treatment in Asia, and particularly in Hong Kong, can be very expensive so having an international plan in place will offer the peace of mind knowing that you and your family will have quick access to the correct treatment when you need it.

Plans to Choose From

The majority of the international health insurers offer at least three levels of cover, which helps the consumer purchase their insurance according to their individual needs and budget. The three basic levels of cover are as follows:

In-patient Cover

Is considered basic cover and provides cover whenever the insured is admitted to the hospital. It generally also pays for pre-operative and advanced diagnostic testing such as MRI and CAT scans. Most company level I plans also provide cover for post-hospital follow-up, treatment for cancer, organ, bone marrow and tissue transplants and reconstructive surgery.

Outpatient Cover

Is typically the most popular plan and is more comprehensive. It provides all the cover of a In-patient plan along with benefits paid for doctor and specialist visits, prescription drugs, and diagnostic testing. It pays for conditions that require long-term treatment as long as the condition was diagnosed after the plan was purchased. The cover pays for necessary vaccinations and preventative health checks, and physiotherapy sessions. Many carriers also offer an optional dental benefit to supplement the outpatient cover.

Maternity Cover

(Conception must be after the policy is issued)

Considered by many to be full coverage, Maternity includes all the benefits of Inpatient and Outpatient plus many other valuable covers.

• Cover for maternity complications such as emergency C-sections.
• Routine maternity care (see policy for limit)
• Cover for the treatment of newborns
• Optional dental care (additional purchase)

Hong Kong Chronic Condition Cover

It’s important that individuals and families consider the enormous costs associated with chronic illness, especially if long term. It’s important to establish this cover before a diagnosis in order for benefits to be available. Preexisting chronic illnesses are typically excluded from cover. Different health plans will likely offer different levels of cover for chronic illness, so it’s important to consult with your agent about the cover before deciding on a plan for your employees.
Which Plan is Right for You?

To determine which plan level best meets the needs of you and your family, applicants should take into consideration the level of care they would require, whether optional covers are available, their age or ages, and health history. Certainly, the most important consideration for many individuals and families is the monthly premium you can tolerate and are willing to accept.

Choosing an international health plan is a very important decision that shouldn’t be made without having all the information needed to make an informed decision. For complete product details and pricing, contact a licensed professional who can help you navigate the confusing landscape of health insurance products available in your area.

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