14Nov

Successful out-of-country childbirth

Giving birth in a different country requires plenty of preparation. Expats living abroad with their families need to ensure that there is a system is in place for a safe delivery to avoid unexpected expenses and inconveniences during such an intense period.

You can read more about the expense side of childbirth in our blog Expecting a Baby in Hong Kong.

The one plan to rule them all

“The best offence is a good defence” is the key to avoid as many of possible worst case scenarios. At this point, your answer to medical emergencies should always be preparedness.

The most crucial first step is to have a birth plan drafted out at the start of your pregnancy. This includes:

  • Getting to know your hospital of choice ahead of time
  • Familiarizing yourself with your new doctor
  • Knowing what you are looking for is a hospital

Hong Kong has one of the best healthcare systems in Asia and finding a hospital that suits your needs is relatively easy for many expats. Public and private hospitals provide excellent services so it’s usually a matter of preference and expense when it’s time to decide.

Choose your obstetrician wisely. If you have health insurance that covers pregnancy and childbirth, double check to see if they cover the hospital that you’ve chosen. Check the hospital’s proximity to your home and find alternative routes for different traffic conditions.

Common Complications

We do what we can to make sure the child is in good health during pregnancy. However, there is always the possibility of complications. Common issues to prepare for include:

  • Umbilical cord issues
  • Perineal lacerations
  • Abnormal fetal heart rate
  • Amniotic cavity problems
  • Failure to progress

C-section birth may be required during these situations and making sure you’re financially covered for this major operation is also a crucial part of the birth plan. Check with your expat health insurance provider if they cover this emergency expense.

On new territory

Pregnancy and childbirth make one of the most intimate and unforgettable experiences of life. The logistics leading up to them could be just as complicated as it is memorable, but it’s all worth it in the end.

We help expats find the best health insurance that covers maternity in Hong Kong. Get in touch with us for inquiries.

18Oct

How cancer burns through everything including your savings

Cancer takes more than lives. It also goes after a hefty amount of your savings.

In just a span of two years, half of all US cancer patients breeze through their funds, accentuating a total of $92,000 in twelve months.

This is all detailed in a new study called “Death or Debt? National Estimates of Financial Toxicity in Persons with Newly-Diagnosed Cancer” which was published this month. According to its findings, these heavy costs are mostly of risk to be shouldered by the elderly and those without insurance, among others.

Killer expenses

In the US, cancer comes second to heart disease as the undisputed title-holder of the most notorious killer.

But unlike heart disease which has a pool of research and funds dedicated to it, the cost of cancer treatment, for any country is financially unfathomable. Annually, 1.6 million new Americans are diagnosed with cancer. From this, 600,000 barely finish treatment and die.

The healthcare system credits to spending $87.8 billion yearly for patients. Specifically, unfinished treatments resulting in death leads to a $130 billion cost.

A huge portion of treatment expenditure still falls on the patient. The American Cancer Society along with the Cancer Action Network reports that as of four years ago, findings revealed that patients still shouldered a total of $4 billion on their end just for seeking cancer treatment.

Crunching beyond the numbers

The core of the study took 9.5 million patients and 16 years to see completion (1998-2014).

Setting aside the statistics, the medical study delineates the kinks that needed to be worked out when it comes to medical budget and productivity.

The journal is an updated study from the same set of authors from five years ago and is published in the American Journal of Medicine. Initially, in the study’s first findings, it revealed that cancer, specifically, breast cancer, accounts for 33 million sick days among the US working citizens annually.

The update to the study echoes a more heartbreaking revelation: half of the cancer-afflicted patients within their study have started and been easily sunk into bankruptcy due to treatment expenses.

This brings a new reality to the table: that the economy pulls a really tensioned string even to cancer patients who struggle with the cost of treatment.

When toxicity seeps to your finances

A big danger lies in the fact that the risk for financial toxicity goes greater with cancer treatment. After years of fluctuation in the economy, one would think that the financial burden on the patients would’ve lessened but has so far remained consistent.

Grant Skrepnek, one of the paper’s writers believes the results were “shocking,” seeing as to how figures have reached higher levels, which he has seen in his 20 years in cancer research.

Despite the advent of immunotherapy, which is pegged as a vital tool for the possible elimination of cancer, Skrepnek believes that it also has downsides, such as its ability to hamper predictions for cancer trends.

Jennifer Singleterry believes otherwise and sees a bigger threat in short-term healthcare plans.

Singleterry, a senior policy analyst from the American Cancer Society is concerned with the coverage of these health care plans, which have a limited coverage and “caps” – which hurts finances as it doesn’t include cancer treatment.

She adds that dependency to these short-term plans will only be harmful to those afflicted will illness, who will be left with even higher insurance premiums.

What this ultimately reveals is another layer of fear added to cancer: first the diagnosis, and now the financial horrors.

Village Insurance Direct helps expats in Hong Kong find critical illness insurance. Contact us for inquiries.

 

5Oct

Is C-section the way to go?

In this day and age, Hong Kong stands strong in offering a lot more than tourist attractions and sparkling history. On par with many first-class countries, it prides itself with an excellent healthcare system. For both its residents and expats alike, it has become the place of choice for maternity and childbirth, owing to the structure in its services.

The Hong Kong health system, like many others, is categorized into two: the public and private sectors.

Being a Hong Kong resident with an “identity card” provides you with numerous benefits, including full utilization of their public health system.

Some say that it gets trickier and more complicated when it comes to foreigners, but there’s always no reason to feel lost and left out. Local or not, there’s nothing a good preparation can’t solve.

Adjusting to a childbirth in a foreign country is the first step. As mothers near their delivery, the next logical step is to figure out whether a C-section or classic delivery setup is the way to go.

Crunching the hard digits

In general, the World Health Organization suggests a 10-15% rate in C-section deliveries vis-à-vis a country’s healthcare status.  Since last year, numbers of C-section deliveries have been steadily increasing around the world. Currently, the Dominican Republic holds the top spot with 56.4%. According to this October 2018 research, Hong Kong currently has a Caesarian birth rate of 35%. It stands toe-to-toe with other countries like Turkey and Brazil, who each report rates of over 45%.

The good versus the bad

It is the expectant mother’s choice as to how she wants to have her baby delivered. However, in some cases, it is the doctor’s call whether to perform the surgery or not, particularly when the necessity arises in the situation.

C section deliveries are beneficial for mothers who are unable to bear the stress of the labor process. It is also recommended if more than one baby will be delivered. The procedure helps minimize the risk of having the baby contract a disease from passing through the vaginal area.

However, it also offers a balanced number of downsides. Mothers who opted for the surgical process tend to stay longer in the hospital for recuperation. There is an increased risk of pain or infection following the surgery and soreness is almost guaranteed. Staggering levels of blood loss may also provide low levels of Hemoglobin.

The rates

As an invasive procedure, C-section deliveries generally cost way more than vaginal births. Rates within Hong Kong vary with different hospitals, ranging from standard HK$ 17,000 to pricey lengths such as HK$ 141, 000 for high-tier private hospitals. As of June 2018, for example, the fee for a C-section surgery in St. Paul’s Hospital in Causeway Bay starts at HK$ 18,000 versus their fee for a vaginal birth which starts at HK$ 15, 000.

Ultimately, the choice rests upon the mother’s shoulders. There may be slight differences between private or public hospital settings but one thing remains the same: This is Hong Kong, and both options carry a high standard when it comes to medical care.

Village Insurance Direct provides expats in Hong Kong with health insurance that covers maternity expenses. Contact us for more information.

30Sep

Expat Guide: Everyday Hong Kong

The thing about Hong Kong is that it never catches a wink of sleep. Like New York City, it feels alive 24/7: a bustling zone of commerce in the morning and an alluring city of lights at night.

Cradling a population of 7.5 million people, it is home to some of the world’s luxe suites and soaring skyscrapers. With an identity aligned with finance, it is a common sight to see many professional expatriates treading about among the city’s vast urban landscape.

According to a report from NBC last June, Hong Kong ranks first in the list of the five most expensive cities for expats, knocking off Luanda from the top spot. However, numbers still show that despite the rising prices of property, tourists and professionals still flock the island metropolis.

Familiar faces in the neighborhood

Despite being known to be a bit further from the main island, West Kowloon is a suburb famous for its growing number of expats in recent years. It is home to a number of suitable amenities including modern housing complexes and shopping centers. It is also the location of Kowloon Tong, a known affluent district in the area.

For both single travelers and couples, the “Mid-Levels” is another popular spot. Unlike West Kowloon, it is in close proximity with Hong Kong’s nightlife areas such as Soho, which makes it ideal for those who constantly seek relaxation and casual fun.

Similar to relaxing sunsets which can be viewed from Kowloon Tong, the Mid-Levels proud itself with a scenic view of the Victoria Harbor.

The area is also suited for families who have moved to Hong Kong to study. Several educational institutions are conveniently situated in the area like the Ying Wa Girls’ School and King’s College.

Useful Basic Phrases

Appropriate cultural know-how is also important while staying in Hong Kong. Communication and values are two of the most important facets of culture. When it comes to linguistics, it is a handy skill to learn Cantonese to aid one’s English as it is spoken by a vast majority of its residents. Try to learn some basic phrases such as “néih hóu” (hello), “dòjeh” or “ng-goi” (thank you) to supplement your daily conversations with the locals.

Whether in business or in personal life, Hong Kong insulars and Chinese people value the custom of “mianzi” or face. This Chinese concept rests on the idea that people should be mindful of their actions and words, so as not to embarrass themselves and others and “lose face” through shame.

Maintenance of interpersonal relationships is crucial, particularly when it comes to work or business. Once a matter is settled upon by two people, it is necessary to cultivate socials. This is reflected by their concept of “guanxi” or connections. New settlers in Hong Kong start with no “guanxi” and are given the task of expand their network of people quickly.

Hong Kong’s charming variety should be enough to cater to the different priorities of every islander or tourist. With its and busy streets and global mark, it is sure to maintain its spot as a city for expats.

INSURANCE NEEDS FOR EXPATS

Whether you’re starting a business in Hong Kong or working as an employee or moving here with your entire family, Village Insurance Direct can help you find insurance cover for your needs. We help find full coverage insurance for expats living in the city. Get in touch with us today.

30May

Expat Guide: What to Do in Your First Year in Hong Kong

After living in Hong Kong for one year, you probably already know its famous landmarks and where to find the best Chinese food like the back of your hand. But here are more things you might need to know to settle in nicely and comfortably for the rest of your stay in this thriving, cultured, and fast-paced city.

buying car

  1. Owning/leasing a car and getting a driver’s license
Many Hong Kong residents don’t really consider a car a necessity. The city is small and the public transportation system is renowned for its cleanliness and efficiency. But some expats still feel incomplete without a vehicle. If you have a family or if you’re living in the New Territories, having your own car does have its advantages. You can set your own schedule of coming and going and if you want to relax, a drive to the rural areas to go biking or hiking is made much easier.
If you do decide to get a car, you’ll need a locally-issued driver’s license as your foreign issued license is only good for a year. Here’s what you need in order to be issued with a 10-year Hong Kong license:
  • The current fee
  • The originals, AND copies of, your home license, passport, and HKID card
  • Those over 70 years of age must complete medical form TD256
  • Proof of address, no older than 90 days
You will need to have resided in the country of issue for at least six months since your license was issued, you have held the license for at least five years, and present your passport issued in the same country as the license.

bank account

2. Opening a bank account
If you haven’t opened a bank account in Hong Kong yet, now’s as good a time as any! It’s a straightforward process and being a major international finance center, nearly all major banks are found in Hong Kong. All you’ll need is your passport and a recognized proof of address although some banks may need to see a work or residence permit. If you already have your HKID, this can be used instead of your passport. If your work requires you to travel a lot, HSBC and Standard Chartered are the best banks to accommodate you.

hiking

3. Nature trails and beaches

Of course there’s more to Hong Kong than just the hustle and bustle of business. If you love the great outdoors and yearn to get away from the big city often, Hong Kong has such easy access to nature. Hike the high peaks of Lantau to get a stunning view from the top. Find secluded beaches in Sai Kung and rent kayaks by the hour and revel in the tranquility you can find in such a major city.insurance_0

4. Getting health insurance
After living a year in Hong Kong, you’ll start to get a feel if it’s the right place for you. The city attracts expats because of its unique marriage of Western and Eastern cultures and the great work opportunities it offers. The food is nothing short of amazing and there’s always something to do whether its a fun night out in the city or a quiet drive to the south. If you decide to stay in Hong Kong, you’ll enjoy it so much more with the peace of mind knowing you have health insurance. We can help you get started on the health care that is best for you and your family. Your great new life in Hong Kong is about to begin!
Sources:
16May

Easing the Process of Moving to Another Area in Hong Kong

For a lot of people, just the thought of moving can be quite stressful. Where do you even begin? Where can you find time to do all that packing? What if some of your things get lost or damaged? But no matter how stressful it can be, the promise of a better location, better house, or a better life is exciting. And the stress can be managed if you acquire the help of a moving company which Hong Kong has a lot of. Once you get in touch with one, they’ll guide you through what to do at the beginning up to the very end.

Here is a step-by-step guide to moving houses or offices:

1. Talk to your mover

This is pretty obvious. But what specifically should you let your mover know? Your packing and moving dates for one thing, that’s a no-brainer. There’s also things like whether you want to move your belongings by air or sea, if you want your things delivered straight to your new door or at the nearest port, if there are customs or quarantine regulations you need to know about, and if you need extra services once you’ve gotten all your things together. You’re not just hiring them to move your moving boxes from Point A to Point B, their professional opinion is also a great addition.

2. Get your quote and insurance

Once you know exactly how you want your home contents moved down to the last detail, the movers will give you a quote. Then you’ll need to take care and submit the necessary paperwork. And most importantly, you need to get moving insurance. No matter how careful your movers are and how well things are planned, accidents can always happen. It’s best to be prepared, get a coverage plan and a valuation for your valuables. Here is a more detailed guide on what you need to consider.

3. Packing time

Actually this is the movers’ job so what you need to plan is being out of the house on the day that they’re arriving so you won’t get in their way. No need to worry about boxes and how to pack what sort of item (whether it should be bubble-wrapped or padded with styrofoam), it’s part of their job to provide and know all those things.

4. Shipping them out

Once your belongings are ready to be shipped off, it’s important to get all the details. The tracking number of your shipment, the vessel or flight details, departure and arrival dates of the shipment, and contact details of the agent who will handle your belongings once they arrive. That last one is important. You need to get in touch with the person responsible for taking care of things like customs, storage, and delivery.

5. New home sweet home

When your belongings arrive, leave it to the movers to do all the unpacking while you peruse a list to make sure everything is accounted for. They’ll even set up your furniture they way you like it and even take care of getting rid of the empty boxes. Then, once everything is squared away, just relax and enjoy your new place!

And remember it’s always best to get Home Contents Insurance or Office Insurance to make sure you’re adequately covered and reduce the stress when things don’t go as smoothly as you would have liked. If you’re renting, we also recommend getting Renter’s Insurance. We can help arrange this for you at Village Insurance Direct.

2May

Tips for Staying Fit While Pregnant

Exercise during pregnancy is different for every expectant mother. The most important tip to remember is to get clearance from your doctor before engaging with any type of fitness plan.

Women who regularly exercise and have been physically active prior to conceiving will more or less have zero issues with working in a fitness routine in their day. Walking is considered a safe and simple way to get one’s heart rate up.

CALORIE INTAKE

Although you are eating for more than one person, doctors advise that it is important to keep track of your pre-pregnancy weight to determine your required calorie intake to maintain your body’s and baby’s need for proper nutrition.

If your body mass index (BMI) is in a healthy range (between 18.5 and 24.9), you’ll need to eat about 340 more calories a day in the second trimester than before you were pregnant and about 450 more calories a day in the third trimester

PROPER WARDROBE

Stay comfortable by choosing looser fitting clothes that breath and regulates body temperature. Pregnant women tend to have higher body temperature and may overheat during a workout. In addition, make sure your maternity bra is supportive enough, and choose athletic shoes that fit properly. With your feet a little swollen than normal, choose footwear that is 1 to 2 sizes bigger.

EXERCISE AND STRETCHING HELPS WITH BACK & HIP PAIN

Common problems during pregnancy are increased lower back pain, pelvic instability, urinary issues, or reduced functional strength of the abdominal wall. Exercising during pregnancy helps reduce muscle tension. Prenatal pilates and yoga are popular fitness routines women can safely do to help with the usual discomforts of the condition.

STAYING SAFE WITH PROPER MATERNITY INSURANCE 

Maternity insurance covers costs for pre-natal and post-natal treatments. It also covers cost for natural or caesarean delivery where the latter can get very expensive without private insurance. Maternity insurance with extension also helps with costs incurred for fertility treatments and congenital birth defects.

Village Insurance provides help for expats in Hong Kong in finding the best maternity insurance for all of your needs. Get in touch with our agents for more information.

 

30Apr

Singapore or Hong Kong? Where Best to Do Business

Singapore and Hong Kong are two of the best east Asian countries to start establish a business. Hong Kong has taken the lead for the past years but Singapore has been quickly making great strides to compete further.

Companies and brands from the US and UK have had relatively easy entries to both markets. The most common business has to do with building a regional headquarters for a global company as an expansion strategy and amass the Asian market.

HERE ARE HELPFUL INSIGHTS FOR EXPATS WHO ARE CHOOSING BETWEEN HONG KONG AND SINGAPORE TO DO BUSINESS.

As an overview of the two country’s strengths:

  • Singapore has the top destination for maritime trade.
  • Hong Kong is your choice if the objective is to eventually start business in Mainland China.
  • Both have incredibly accessible international airports with hundreds of direct flights from Western regions on a daily basis

LEGAL PROTECTION

It’s a must to have business cover like public liability or product liability insurance. It’s a pre-requisite for any business in Hong Kong and Singapore.

Both countries have strict legal systems with regulations in place to help you with intellectual property rights and dispute resolution departments. However, Singapore wins over Hong Kong in terms of enforcing contracts and property registrations.

GLOBAL RANKINGS

World Bank’s 2017 Ease of Doing Business ranking places SG at #2 and Hong Kong at #5. New Zealand was #1 last year.

In the annual Z/Yen survey of global financial centres Hong Kong beats Singapore but as the entry way to China, Hong Kong is the 3rd most powerful financial hub globally. Singapore is currently in 4th place.

Hong Kong ranks 1st in terms of financial services and financial technology.

The criteria for the rankings above are:

  • infrastructure
  • business environment
  • financial sector development
  • human capital
  • reputation

Business registration can both be done online via website registration.  The headline Singapore tax rate is 17% whereas it’s 16.5% in Hong Kong. There are also many tax exemptions available for both.

In Singapore, one of the directors must be a citizen while Hong Kong allows 100% ownership by expats.

Ready to get started with your new businesses? Get in touch with us for all your business insurance needs.