Hong Kong Health Insurance Deductibles

When you purchase a Hong Kong Health Insurance plan you will often be offered a range of deductible options on the policy.

Hong Kong Medical Insurance plans will cover the costs associated with your medical treatment. If you choose to have a deductible on your policy you will then be responsible for some of the costs of your healthcare.

For example, you may have a $50 deductible on your Hong Kong Health Insurance plan. If your medical treatment cost $150 then the insurance company would cover $100 of the treatment while you, as the policyholder, would be responsible for paying the remaining $50 to the medical provider.

Please be advised that not all insurance companies and plans will offer the same deductible options, you should check what deductibles are available on the plan you would like to purchase prior to enrollment.

Having a deductible on your policy is often a great way to lower the overall premium of your Hong Kong Medical Insurance plan. If you agree to pay for some of the costs associated with your medical treatment you will often receive a significantly lower plan premium than if you elected to obtain a policy with no deductible.

Types of Hong Kong Health Insurance Deductibles

At Hong Kong Health Insurance we can provide a range of deductible options to our customers. Typical options for Hong Kong Medical Insurance Deductibles include:

Per Condition

A per condition deductible is the amount of money you must pay for the treatment of each individual medical condition you received treatment for.

As an example, you elect to purchase a policy with a $100 per condition deductible. While on the policy you, for instance, break your leg due to an accident. The cost of treatment for the broken leg is $1,000. Your Hong Kong Health Insurance plan would cover $900 of the treatment, while you would be responsible for $100. Any follow up treatment for the broken leg, as it is still the same condition, would be fully covered under the plan. However, any additional treatment for a non-related condition, such as the flu, would require that you pay the deductible again.

Per Year

A per year deductible is the amount of money you must pay for the treatment of all medical conditions received throughout the year.

For example, your Hong Kong Health Insurance policy deductible is $100 per year. This means that you would be responsible for the first $100 in medical costs, and the plan would cover all costs over $100 up to the policy limits. If you fell ill with the flu, and the treatment cost $100, you would have to cover the payment of that treatment. However, any further medical conditions which require treatment for the rest of the policy year would be covered by the plan.

A Per Year Deductible resets each time you renew the policy.

Co-Insurance and Co-Pays

Co-Insurance is generally a percentage of the total medical costs which the policyholder is required to pay. A Co-Insurance deductible is most commonly found on Maternity and Dental Health Insurance plans.

If you purchase a Hong Kong Health Insurance plan with a 20% Co-Insurance on the policy, then you would be required to contribute 20% of all the costs associated with your medical treatment.

If you went to the doctor with the flu and the total cost of treatment was $100, then you would have to cover 20% of the cost of treatment ($20), and the insurer would cover the rest. Each time medical treatment is received under the policy the 20% Co-Insurance would need to be covered by the policyholder.

Hong Kong Health Insurance Quote

If you would like to receive a free quote for a Hong Kong Health Insurance plan please complete the form at the top of this page. Alternatively, if you would like to receive additional information about the types of deductibles available on a Hong Kong Medical Insurance policy, please contact us today.