Looking at the cost of international health insurance in Hong Kong
Exciting news; Pacific Prime is happy to announce that we have released our latest report on the average cost of international health insurance. The Cost of International Health Insurance Report – 2017 is a free report that presents an in-depth analysis on average premiums in 100 countries including Hong Kong. Here, we provide an overview of the main findings from our new report.
About the Cost of International Health Insurance Report – 2017
The 2017 annual report on the cost of international health insurance has been created to provide a valuable resource for both individuals and companies looking to learn more about international health insurance, what they can expect to pay in various locations, and the major drivers of health insurance premiums around the world.
Inside the report
As with the previous iterations of the report, the key findings from our new cost of international health insurance report are divided into three sections:
- Section 1: Ranking the top 20 most expensive and 5 least expensive locations.
- Section 2: Pacific Prime’s analysis of the primary findings from the report and the four global drivers of health insurance premiums.
- Section 3: The full PDF version of the report includes a full ranking of countries for all the demographics included in the report.
How were the findings generated?
The findings on average premiums are based on combined data from 10 major insurers, who each offer three levels of plan:
- Level 1: Inpatient only
- Level 2: Inpatient + outpatient
- Level 3: Inpatient + outpatient + maternity
We then took these three plan levels and pulled premiums from the most common demographics who currently buy international health insurance:
- Individuals: 36 year old male
- Couples: 36 year old male and 35 year old female
- Families: 36 year old male, 35 year old female, and two children aged 0 and 5
- Retirees: 60 year old male
The average cost of international health insurance in Hong Kong
This year’s report found that the average cost of international health insurance spans from USD 19,724 to USD 7,027. In terms of world rankings, Hong Kong took second place as the most expensive location for international health insurance with an average cost of USD 12,585; which was still only 68% of the cost of premiums in the US – the most expensive country for health insurance in the world.
Here are the average premiums in Hong Kong broken down by demographic:
- Individuals: USD 6,382
- Couples: USD 12,400
- Families: USD 18,295
- Retirees: USD 13,263
Hong Kong: the most expensive location for health insurance in Asia
For all the above demographics, Hong Kong is the top-ranked location in Asia in terms of cost. Overall, Singapore and China are ranked second and third place in the region, with an average premium of USD 10,732 and USD 10,695, respectively. On the other end of the spectrum, Pakistan was found to be the least expensive location for international health insurance in Asia, with an average premium of USD 7,391.
Download the report today
To avail our new cost of international health insurance report, you can either view it on our website (https://www.pacificprime.com/cohi-2017/), or download it as a PDF here. Both versions are available for free.
The online version includes the ranking of the most expensive and five least expensive countries, an overview of our main findings and the four global drivers behind premiums, as well as our regional analysis. The PDF version of the report includes full location rankings and additional analysis.
If you’ve got any more questions regarding the cost of health insurance in Hong Kong, be sure to contact our knowledgeable advisors at Pacific Prime Hong Kong today.