Posted on May 18, 2015 by Rob McBroom
Pacific Prime has officially released the second article, titled: The cost of health insurance in top expat destinations, of their three-part report on the cost of international individual health insurance in different countries around the world. While the first article focuses on the average cost of health insurance in 94 countries (it can be downloaded for FREE from here), Article 2 focuses on six top expat destinations.
The six destinations, as selected by Pacific Prime, represent some of the most popular countries in the world for expats and for companies looking to expand operations, and include:
- Hong Kong
- the UAE
- the UK
Because Article 2 presents a more granular look at the countries listed above, we have expanded the number of insurers from six to 11. To keep numbers manageable and digestible, we have kept the number of plans looked at from each provider to three (inpatient only, inpatient + outpatient, inpatient + outpatient + maternity) levels for four demographic groups (Singles, Couples, Families, and Retirees).
Looking at Hong Kong
There is some solid information on the cost of health insurance in Hong Kong for both expats and managers in this article that is presented based on the different demographics included in the report. Each demographic has been further broken down by plan type and analysis included which makes it easy for readers to zero in on the information they are most interested in.
With Hong Kong being one of the most expensive places to live in, it really comes as no surprise that the city is the most expensive location amongst the countries analysed in Article 2 - it is ranked second most expensive overall, after only the US. As such, the premiums from the eleven providers included in Article 2 are generally higher than the other locations in the report.
For example, the Single plans available in Hong Kong span a range of USD 1,865 to USD 12,242 across all three plan types. Families are even more spread out with a range of USD 4,725 to USD 31,793.
Download Article 2 for FREE today and you will see some interesting findings including the fact that there is a high cost outlier present in many plan types and demographics, and that Plan 1 premiums (coverage for outpatient only) are clustered quite close together while Plan 3 premiums (coverage for outpatient + inpatient + maternity) are almost evenly spread out among the price range.
Both of these findings intrigued Pacific Prime and as such, we have included an in-depth analysis on not only the pricing in Hong Kong, but also why such things as outliers exist. The idea here is to help educate insurance buyers not only about the different plans available but also what has led to premiums being as they are, and therefore help them make better, more informed decisions.
If you are considering moving to Hong Kong, or are looking for a new insurance plan for your company, download Article 2 today for FREE from Pacific Prime’s Cost of Health Insurance report website. And, if you would like to learn more about your health insurance options in Hong Kong, contact our experts today.