{"id":2612,"date":"2023-10-19T16:47:07","date_gmt":"2023-10-19T08:47:07","guid":{"rendered":"https:\/\/www.pacificprime.hk\/blog\/?p=2612"},"modified":"2023-10-19T17:59:14","modified_gmt":"2023-10-19T09:59:14","slug":"how-much-does-a-family-health-insurance-plan-cost","status":"publish","type":"post","link":"https:\/\/www.pacificprime.hk\/blog\/how-much-does-a-family-health-insurance-plan-cost\/","title":{"rendered":"How Much Does a Family Health Insurance Plan Cost?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Moving to Hong Kong with your family? You\u2019ll be disappointed to find out that health insurance premiums in this special administrative region (SAR) are notoriously high. With the average cost of international family health insurance premiums at USD $22,067 (HKD $172,744).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this, getting health insurance is something you should consider as private healthcare services can be extremely pricey, and securing a comprehensive plan will provide you with peace of mind and help you avoid out-of-pocket payments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this<\/span><a href=\"https:\/\/www.pacificprime.hk\/\"> <span style=\"font-weight: 400;\">Pacific Prime Hong Kong<\/span><\/a><span style=\"font-weight: 400;\"> article, we\u2019ll elaborate on the cost of family health insurance plans, as well as explain how to choose the best one for your family.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><div class='code-block code-block-3' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.hk\/compare-quotes\/step-one\/?campSource=PPHK-Blog&utm_source=blog&utm_medium=content_banner&utm_campaign=Blog_Banner&utm_content=family\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1282 alignleft\" src=\"https:\/\/i0.wp.com\/www.pacificprime.hk\/blog\/wp-content\/uploads\/2022\/12\/WP-Banner-revamp-final-20221207_3.-Family-final.jpg?resize=700%2C303&#038;ssl=1\" alt=\"Family health insurance banner\" width=\"700\" height=\"303\" data-recalc-dims=\"1\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n<h2><strong>What is Family Health Insurance?<\/strong><\/h2>\n<p><a href=\"https:\/\/www.pacificprime.hk\/health-insurance-plans\/family-health-insurance\/\"><span style=\"font-weight: 400;\">Family health insurance<\/span><\/a><span style=\"font-weight: 400;\"> is a type of health insurance that provides coverage for the entire family. Rather than getting individual plans for each member of the family, which is the costlier option, you can save money by opting for a family health insurance plan instead.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our<\/span><a href=\"https:\/\/www.pacificprime.com\/cost-of-health-insurance-2023\/\"><span style=\"font-weight: 400;\"> 2023 Cost of Health Insurance Report<\/span><\/a><span style=\"font-weight: 400;\"> found that the average cost of international family health insurance premiums in Hong Kong is USD $22,067 (HKD $172,744)<\/span><span style=\"font-weight: 400;\">. On the other hand, the average cost of premiums for international health insurance for individuals is <\/span><span style=\"font-weight: 400;\">USD $7,810 (HKD $61,146)<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h3><strong>Factors Influencing the Cost of Family Health Insurance<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">The above figures are only average costs of family health insurance, so they may not be indicative of what you\u2019ll have to pay.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a range of factors influencing the cost, such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Number of family members insured on the policy<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Age of each family member<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.pacificprime.hk\/health-insurance-plans\/pre-existing\/\"><span style=\"font-weight: 400;\">Pre-existing conditions<\/span><\/a><span style=\"font-weight: 400;\"> of each family member<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Lifestyle of each family member, including whether they smoke or not<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">What\u2019s more, the cost will also vary based on the coverage level. For instance, do you want an inpatient-only plan or a plan that covers outpatient as well? Or maybe you want additional coverage including dental, vision, and<\/span><a href=\"https:\/\/www.pacificprime.hk\/health-insurance-plans\/maternity-insurance\/\"> <span style=\"font-weight: 400;\">maternity health insurance<\/span><\/a><span style=\"font-weight: 400;\">?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To lower the cost, you may be able to adjust the deductible and\/or add a co-payment. The following explains what they are in detail:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Deductible<\/strong><span style=\"font-weight: 400;\">: This is the amount of money that you must pay out-of-pocket for healthcare services before your family health insurance plan comes into effect.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Note: Family health insurance plans may come with two deductibles: an individual and a family one. You may need to reach either the individual or family deductible before you plan kicks in. However, not all plans are the same, so it\u2019s best to check your plan\u2019s terms.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Co-payment<\/strong><span style=\"font-weight: 400;\">: This is a fixed amount that you must pay for a healthcare service. It may be applied before or after you\u2019ve reached the deductible amount.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Coinsurance<\/strong><span style=\"font-weight: 400;\">: This is a percentage of the cost of healthcare service that you must pay out-of-pocket after you\u2019ve reached the deductible amount and before reaching the out-of-pocket maximum.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Out-of-pocket maximum<\/strong><span style=\"font-weight: 400;\">: This is a limit on how much money you\u2019ll pay for healthcare services. Once you have reached this amount, the insurer will cover 100% of the cost for the rest of the coverage year.<\/span><\/li>\n<\/ul>\n<h2><strong>How to Choose the Best Health Insurance for Your Family in Hong Kong<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">When looking for health insurance for your family in Hong Kong, you may be tempted to simply opt for the cheapest plan. Nevertheless, this is hardly a good strategy, and it will bite you in the back later on.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following tells you the things to bear in mind when selecting a health insurance plan:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Check the cost of the plan<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">While family health insurance plans tend to include discounts, which make them a cheaper option compared to individual health insurance plans combined, it\u2019s a good idea to double check the prices yourself.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Look at the coverage level<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Pay close attention to this and make sure it fits your requirements.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Be sure to consider the coverage terms<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Of course, if the premiums are very low, there may be a catch. So, remember to consider whether there is a high deductible on the plan or if there are other terms that may surprise you later on.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Pay attention to age limits of the plan<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Some policies also have a maximum age limit for children and adults on the plan. For instance, they may only cover children under the age of 21 and adults under the age of 70.<\/span><\/p>\n<h3><strong>Get in Touch with a Health Insurance Broker<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">If you\u2019d rather not bury your heads deep into the policies, you can also get in touch with a health insurance broker like<\/span><a href=\"https:\/\/www.pacificprime.hk\/\"> <span style=\"font-weight: 400;\">Pacific Prime Hong Kong<\/span><\/a><span style=\"font-weight: 400;\">. Pacific Prime has been in the industry for over 20 years, helping thousands of families choose the best<\/span><a href=\"https:\/\/www.pacificprime.hk\/health-insurance-plans\/family-health-insurance\/\"> <span style=\"font-weight: 400;\">family health insurance plans<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Browse vetted plans from<\/span><a href=\"https:\/\/www.pacificprime.hk\/insurers\/\"> <span style=\"font-weight: 400;\">top insurers<\/span><\/a><span style=\"font-weight: 400;\"> using our<\/span><a href=\"https:\/\/www.pacificprime.hk\/compare-quotes\/\"> <span style=\"font-weight: 400;\">online plans comparison tool<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><span style=\"font-weight: 400;\">Alternatively, our knowledgeable advisors are just one phone call or email away. <\/span><a href=\"https:\/\/www.pacificprime.hk\/contact-us\/\"><span style=\"font-weight: 400;\">Contact us<\/span><\/a><span style=\"font-weight: 400;\"> today for an unbiased insurance consultation or to receive a no-obligation quote!<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><div class='code-block code-block-6' style='margin: 8px 0; clear: both;'>\n<p><a href=\"https:\/\/www.pacificprime.hk\/compare-quotes\/step-one\/?campSource=PPHK-Blog&utm_source=blog&utm_medium=cta_banner&utm_campaign=Blog_Banner&utm_content=quote\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1279\" src=\"https:\/\/i0.wp.com\/www.pacificprime.hk\/blog\/wp-content\/uploads\/2019\/06\/HK-BANNER-Couple.jpg?resize=700%2C303&#038;ssl=1\" alt=\"Get a quote banner\" width=\"700\" height=\"303\" data-recalc-dims=\"1\" \/><\/a><\/p><\/div>\n<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moving to Hong Kong with your family? You\u2019ll be disappointed to find out that health insurance premiums in this special administrative region (SAR) are notoriously high. With the average cost of international family health insurance premiums at USD $22,067 (HKD $172,744). Despite this, getting health insurance is something you should consider as private healthcare services &#8230;<\/p>\n","protected":false},"author":43,"featured_media":2613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Moving to Hong Kong with your family? It\u2019s highly advisable to secure family health insurance, so that you can access the SAR\u2019s best healthcare providers, without paying out of pocket. Check out this article for the costs of family health insurance plans and how to choose the best one for your family. \r\n\r\n#family #health #insurance #cost #hongkong #pacificprimehongkong","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[615,2],"tags":[589,793,1373,791,397,47,177],"class_list":["post-2612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-insurance","category-insurance","tag-average-cost-of-health-insurance","tag-ban_fam","tag-cost-of-health-insurance-report-2019","tag-cta_gen","tag-expat-health-insurance","tag-family-health-insurance","tag-health-insurance-premiums"],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Much Does a Family Health Insurance Plan Cost?<\/title>\n<meta name=\"description\" content=\"Moving to Hong Kong with your family? 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