Private Health Insurance Hong Kong

Categories: private health insurance hong kong | Published on July 10, 2013

Private Health Insurance Hong Kong becomes one of the key elements of today's government reforms, according to the Food and Health Secretary, Dr. Ko. Speaking to radio talk show, the secretary said the current government may play a middle-man role on private health plan for citizens. The former government had envisaged a health plan which would allow consumers to pay fixed prices for medical services provided for general health conditions, but that has never been an idea that has been well received in the private medical market where private doctors operated their businesses and defined the rules. 


In an effort to improve private health insurance services, the government plans to implement a new plan which will encourage people to buy health insurance policies. But that is not all, the government plans to step in and ensure that the consumers are getting what they bargained for, and that insurers deliver what they promise. Speaking to Commercial Radio, Ko said that the government will have to assess the content and quality of insurance products and ensure that insurance providers are guaranteed. The details of this plan are still being worked upon and will be published in the course of the year. This will be the results of a delayed health plan. 


Such insurance changes will be most welcomed by private health insurance policy holders and will certainly boost the health insurance market in a country where 90 percent of the population visit general hospitals for their their health related problems and where only 3 in 10 citizens possess private health insurance. In 2008, the former government conducted a research and came to the conclusion that a mandatory health insurance scheme was unpopular and advocated for one that was voluntary. 


Today, the government would want to be a go-between between consumers and private health insurance providers in Hong Kong. This can be a reform that will help consumers get speedy responses to their claims, encourage quality services, and increase the trust people have in insurance companies. However, this could be a big blow to insurers who cannot set their own standards. Ko reiterated that the government will not meddle with the insurance prices, but it will offer tax incentives that will help consumers buy their insurance policies. The government may not want to put insurance companies out of business, but it will not allow insurance companies turning customers away. People may seem satisfied with the current plan, but the big question to ask is till when will this plan be satisfactory?