As we go through different phases of our lives, so do our needs for health insurance cover. Does your current plan still cover your needs or are there parts of the policy that are not longer needed?
Health insurance covers must also adjust to the rest of your family member’s needs which is why it’s important to check with your provider every two years.
Here are questions you should ask when reviewing your policy:
- Is my policy limit enough to cover my needs and my supplementaries? There are policies that offer unlimited annual policy offers.
- Do you have plans of moving or traveling more frequently? This means you might need a health insurance policy that covers the places you will be traveling. There are international health insurance covers that follow you wherever you are and plans that excludes the US or UK.
- If you’re married and have a growing family, is your insurance plan able to adapt to maternity and child needs?
- Do you need to add a policy for pre-existing, mental, hereditary, congenital and chronic conditions?
- If you have a policy taken care by your current employer, you also need to evaluate if you’ll need a separate private medical insurance if there are plans of changing jobs. Check if the company health insurance covers for family members or for chronic diseases. If you have special medical needs and your company insurance does not cater to its treatment, an international health insurance cover should be able to take care of what’s lacking.
AS AN EXPAT, CONSIDER INTERNATIONAL HEALTH INSURANCE
This health insurance policy is generally comprehensive and can cover maternity and cancer treatment. It all depends on your needs as well as your family’s. Village Insurance Direct helps expat find the affordable and complete international health insurance from established providers in Hong Kong.
As an expat, you need to foresee if you will be moving in the next years and having an International health insurance that follows you wherever you will give you peace of mind in situations where local hospital may be unable to provide for your needs. The advantage of having this type of insurance is also having local service from your provider’s customer support so you know exactly what your policy can cover.
Ask your insurance provider about your current policy. It is also crucial that you do your own research especially if you’re paying a substantial amount for medical insurance you yourself and your family.
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Hong Kong hospitals are one of the best in Asia and the world. Public health hospitals have a fantastic reputation for being clean and safe but not as comfortable at times with long queues.
Expats with valid HK ID cards can easily seek medical attention at a minimum cost from public heath care facilities. The bed fee and ultrasound which cost $100 per day and $300 per copy, respectively are the more common expenses you’ll pay for when in a public hospital. However, we cannot always anticipate other risks during pregnancy and this is why choosing a private hospital remains the best option to keep the mother and the baby safe.
The Consumer Council has shared that there are plenty of options for private maternity packages that compete on the size of the private suite and the range and grade of the facilities provided. These sets of medical procedures are generally priced equally for residents and non-residents but that may not always be the case.
One has to consider the doctor’s fee, obstetrician and anesthetist. These are generally separate from the maternity package. It’s crucial that you ask for an itemized rundown of the specific services that are included in your health insurance policy once you choose to be treated in a private hospital.
Private health care is understandably more expensive but given the right health insurance cover; expats can fully take advantage of the best facilities and doctors around. Some health insurance policies can cover the entire cost of maternity care.
Cost of Maternity Procedures in Hong Kong
The costs mentioned do not take account the months that lead up to the birth including gynecological visits, ultrasounds and other tests.
The complete cost of delivering at one of Hong Kong’s private hospitals could sum up to more or less o$100K but this amount provides luxuries that won’t be available in public facilities. Most private hospitals also require that you put down a deposit, ranging from $10,000 to $20,000.
One highly recommended private hospital with a relatively cheaper maternity package ranges between $17,000 for residents and $35,000 for non-residents. This fee is for natural delivery in a Standard Room with 3-6 beds.
Other special fees include paying for a pediatrician to be in attendance during delivery (not optional) and a 30% surcharge for each additional baby in cases of twins or more.
Emergency C-Section with 5 nights can cost up to $51,000 for a standard room with 4 beds and around $97,000 for a private room. More complications can cost up to $150,000
Choosing a Health Insurance Cover
Pregnancy is considered a pre-existing condition and most insurance providers will not accept your application if you are already pregnant. Unless you are joining a group plan, some may waive or shorten the waiting period (ask when “waiting period” begins as it may vary per provider). Most insurers will not cover women after the age of 44 so that also plays into your application.
An annual fee of $8,200 for health insurance with maternity cover can have a $20,000 limit on maternity cover. There are also policies with $10,200 annual fee with $10,000 maternity cover. Some insurance providers also provide newborn cover while some keep that policy separate.
This is where having a reliable insurance broker is important. Details on uncommon risks like congenital diseases and newborn care need to adhere to what you specifically need and one might not immediately foresee these things without professional assistance.
This infographic provides a list of the top medical issues faced by women in Asia today. Village Insurance Direct provides help for expats in Hong Kong in finding the most affordable and comprehensive insurance covers. Inquire today!
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