25Mar

Rising Cases of Breast Cancer & Better Health Insurance

According to Worldwide Breast Cancer, in 2010 nearly 1.5 million people worldwide heard their physician breaking the news “you’ve got breast cancer”. This aggressive type of cancer is the most common among women in the UK and US and they have among the highest incidence rates worldwide as seen in the data below.

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The most common figures say that 1 in 8 women might develop cancer in their lifetime. Sourcing the American Cancer Society Breast Cancer Facts & Figures the age group 60 to 69 are the ones most at risk while women between 20-29 see their chances of encountering breast cancer fall to a rate of 1 in 2,000.

The Breast Cancer Hong Kong Facts Report of 2012 also gathered a similar rising trend among the population with these key findings:

·      Breast cancer is the most common type of cancer among Hong Kong women.
·      Hong Kong tops other Asian countries in terms of rates of breast cancer.
·      82% of patients do not have family history of breast cancer.
·      Compared to higher-income districts, the proportion of advanced stage breast cancer is higher in low-income districts.
·      Breast cancer examinations in Hong Kong are not popular with only 15.9% conducting self examinations and 11.2% taking mammograms.

The estimates of lifetime per-patient costs of breast cancer ranges from HK$155,000 to HK$775,800 and a study from an international insurance provider with an office in Hong Kong stated that patients only expected 40% cover of expenses from their policy.

Relating these costs to expats who are currently in Hong Kong and seeking medical treatment, there should be an awareness of what to expect in terms of expenses and facilities.

Find a health insurance plan that can cover ALL breast cancer treatment expenses.  Some may cover more than others but there are policies that cater specifically to breast cancer patient needs. It is also important to find out how much of the cost of your treatment you will need to pay yourself so that you can plan ahead. We always advise clients they should make plans for the worst in such circumstances.

Ask questions about your policy. Find out if your provider has an “in-network” or “out-network” of doctors and facilities.  The former means they have a list of physicians and hospitals they can recommend that are within your policy’s coverage.

Does your policy cover office visits, blood tests, radiology exams, surgery, chemotherapy, etc.? How much of each is covered? Are there co-payments or deductibles? Are clinical trials covered as well? What about second and third opinions?

By listing down these details you will be more equipped in planning out the things you already have and the ones you still need to arrange.

Village Insurance Direct presents your best options based on your budget and your current status. Talk to our agents.  We’re here to simplify your health insurance needs.

Feel free to connect with Mark Bromhead on Linkedin, Facebook and Twitter

 

Sources:

http://hkbcf.org/download/report/ar0408.pdf
http://www.cancer-fund.org/en/cancer_news_342.html
http://ww5.komen.org/BreastCancer/QuestionsforYourInsuranceProvider.html#sthash.F9oHZDxD.dpuf

17Mar

Village Insurance Direct CEO to Speak at Annual Health Insurance Asia Conference

PRESS RELEASE, SINGAPORE — Mark Bromhead, CEO and Managing Director of Village Insurance Direct, will be speaking in The 9th Annual Health Insurance Asia to be held on the 8th to 11th of June 2015. In addition he will be chairing one day of the Conference.

The conference provides a platform for senior executives from private insurance, brokers, providers and industry experts to discuss business potential in the billion-dollar Asian health insurance market.

Mark Bromhead will be one of the keynote speakers on the discussion of:

  • Health Insurance Outlook

  • Expanding the Market with Engagement and Education

  • Closing the Protection Gap with Innovative Products

  • Addressing Cost Containment

  • Stakeholder Collaboration to Enhance Profitability

  • Engaging the Connected Customer

  • Gain insights into the regulatory, cultural and competitive landscape in Indonesia, China and Indo-China region

  • Market trends and opportunities in specific Asian regions.

Experts estimate that health expenditures will maintain their growth trajectory, with overall health costs in the region reaching US$173 billion by 2020.

The industry outlook is promising with economic growth driving demand in Asia and high out-of-pocket expenses further fuelling Southeast Asia’s appetite for private health insurance. But key challenges remain including educating the customers, balancing product affordability and coverage and coping with ballooning medical costs.

Attendees will have an opportunity to create networks with industry players as shown below.

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Mark Bromhead will be discussing the given key topics from the perspective of an industry specialist on expat insurance. Village Insurance is one of the leading insurance brokerages in Hong Kong that has been bridging the gap between expat insurance needs and Hong Kong insurance providers.

Other featured keynote speakers include Barry Chan of Bupa Hong Kong; Simon Pepper, Head of Underwriting & Claims for Asia, Pacific Life Re, Singapore; and Elaine Chan, Senior Head of Medical Division, Zurich Insurance Company, Hong Kong.

For details on the conference, visit http://www.healthinsurance-asia.com/

9Mar

Coping with Lost Luggage: An Emotional Journey

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Losing your luggage at the airport is a lot like a break-up you didn’t expect coming.  You think that everything’s fine and you’re even excited for the adventures up ahead and then you’re left there standing; confused and betrayed.

That little heart attack that you go through after realizing the loss of your luggage is a tragedy the constant nomad knows all too well. And no matter how careful we are (with our bags and our relationships) we still somehow end up with the shorter stick and are left to try and cope.

Stage 1: Denial

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Our nature as social beings is that we like to look at the best things about other people—airlines included.  There’s always that morsel of hope that maybe our bags just got on another belt or they have it waiting for us at the lost luggage section. And then news comes that it’s on a flight to Jamaica and you’re in Hong Kong with your heart broken over the contents of your bag. We can say the airline is mistaken or we can wait by the carousel. We’re entitled to this small period of denial and that’s okay.

Stage 2: Anger

travel_insurance_villageinsurance_anger

As the denial wears off reality emerges and we aren’t often prepared. Being placed in stressful situations with little or no resolution means feelings get expressed through anger. Psychologists say that we have to go through this stage of grief to fully move forward from a loss. Rationally we know the person on that desk is not to be blamed. Emotionally, however, we resent the person for causing us so much pain by telling us “you’ll get your luggage back in 2 weeks”.

Stage 3: Bargaining

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And so we stand there refusing to let the person behind us have their turn until we get some kind of compromise. We can threaten to sue or beg for a faster way to retrieve our luggage but there’s a little voice inside us that’s saying this is futile and all we can do is exhaust that poor person behind the desk with hopes of some good news; that maybe if we’re annoying or upset enough they’ll fly it back to us the next day. Sadly, it doesn’t always happen that way.

Stage 4Depression

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Your mundane routines remind you of everything. When you take a shower you remember because your bath gel smelled like lavender and the one you’re using now is making your skin dry. Then as you go through your wardrobe you remember your favorite shirt was there and that you’ve always worn it to a new place just for the novelty. As you walk through the streets, you remember your luggage once more because you saw a Hong Kong sticker that you want to pile on to the other stickers you’ve collected during your travels. This makes you sad and there’s not much to do but go through the motions.

Stage 5: Acceptance

travel_insurance_villageinsurance_acceptance

3 days in and you’ve visited a few places and met cool people and you start to forget you still have 12 more days (or more) to go before you’re reunited with your beloved luggage. So you think “Okay. I could mope and feel sorry about myself or I could start having some fun and make new plans.” When you choose the latter you know you’re well on your way to self-healing.

Coping with loss is ultimately a deeply personal and singular experience. It’s different for everyone but the constant thing we get out of it are valuable life lessons. Loss is an inevitable part of life. If we must go through it, at least take the journey with good friends.

…and a good Travel Insurance policy.

We’ll cope with you. Contact us here.

P.S. For a checklist of what a good travel insurance should cover, read this.