Expat health insurance, or international private medical insurance, can address individual medical needs in Hong Kong in a similar way to a local health insurance plan, though there are a few differences. After all, expat health insurance plans are designed for expats that want comprehensive cover for their health.
Securing an expat health insurance plan is often a better option for expats than a local health plan as they are more versatile, meaning expats can pick and choose as they desire. A local health insurance plan may have a care provider network in place, thereby limiting which doctors, health centers, clinics, and hospitals you can attend. On the other hand, expatriate health insurance will often do away with any limitations associated with local health plans, such as where you can receive your care.
This makes expat medical insurance ideal for those moving to Hong Kong for the long term. Get a quote from one of our professional advisors today!
The best medical insurance plan for a single expat might not be the best for you as everyone has different needs, expectations, and requirements. In order to find which medical insurance in Hong Kong is best for you, it is important to consider several personal aspects, such as your medical history, age, and situation in Hong Kong, alongside other parameters.
At Pacific Prime Hong Kong, we are aware of the different types of parameters that insurance carriers in Hong Kong consider, and with your information, we can guide you through different plans and help you select the best one.
An expat medical insurance plan typically offers cover for:
Depending on your needs, the health options above can either be included or omitted from your plan. It is imperative to go through each option carefully with an experienced advisor at Pacific Prime Hong Kong. Remember to check the conditions of each option and whether or not they will effectively fulfill your needs.
A plethora of benefits exist for individuals that take out an expat health insurance plan. Here are a few to know about:
For individuals traveling back and forth between Hong Kong and their home country, an expat health insurance plan will offer international coverage for medical treatments abroad.
This around-the-clock benefit will keep you assured that help is always within reach or just a phone call away.
Under a direct billing network, the hospital or clinic you attend within the defined network will bill your medical bill directly to the insurer. This prominent benefit will save you time and reduce the out-of-pocket payments you need to make for each medical treatment.
A guaranteed renewable policy is an insurance policy that safeguards the insured from policy cancellations as long as the insured continues to pay for the policy’s premiums. So if you were to develop a chronic medical condition over the year, you’d be able to renew your policy regardless. Of course, premiums are likely to rise in line with the average rate with each renewal.
The last thing you want when experiencing a health emergency is to queue for a long or substantial amount of time before you are seen. However, with an expat health insurance plan, you are guaranteed shorter waiting times in queues, if not access to a doctor right away. This can lead to better diagnosis and treatment.
As an expat living in Hong Kong, you would rather have the assurance that both you and your medical staff understand one another and can communicate clearly. Expat medical insurance allows access to hospitals and clinics with English or multilingual staff.
When comparing various expat health insurance plans in Hong Kong, you should look out for the:
Although the price of the premium for many expats will be one of the main factors to consider when comparing plans, you should also focus on the value that you can get out of plans by choosing one that gets you quality customer service and coverage for everything you need. Question whether the policy addresses your medical needs. Are the policy limits in line with what you need coverage for? Take your time considering and request support from an insurance expert to help you make a decision.
Be sure to check all the exclusions and compare them across different plans to find one that suits your requirements. It is also worth mentioning that expat health insurance policies often exclude chronic medical conditions or pre-existing conditions. To acquire a plan that includes coverage for pre-existing conditions, be prepared to pay a higher premium or to be told there is a waiting period in place before you can make a claim.
In 2020, the average rate that individuals paid for international medical insurance in Hong Kong was HKD $6,146. This alone ranked Hong Kong second below the US. More so, Hong Kong was the most expensive place to secure expat health insurance when compared to other countries in the whole Asia-Pacific region.
Discover what makes premiums so high in Hong Kong by downloading our free report below!
Moving to Hong Kong can be an exciting yet daunting prospect, especially if you are moving from the comfort of your home country. To help facilitate the process of your planning and preparation, read our complete guide to moving abroad as an expat for peace of mind.
Our dedicated guide provides some useful insights, including:
You needn’t look any further than Pacific Prime Hong Kong for the best and most effective expat health insurance plan. With over 20 years of experience providing expats with bespoke plans, you are in good hands when it comes to receiving impartial advice for plans that match your requirements and budget.
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