High costs, limited insurance coverage impede medical freedom in HK

Residents need $6.7m to achieve medical freedom.

Achieving “medical freedom” in Hong Kong requires $6.7m or 10 years of income, Prudential Hong Kong revealed.

In a report, the insurer revealed that residents struggle to achieve medical freedom due to high medical costs (66%) and due to network limitations of insurance plans, amongst others.

In Hong Kong, residents report that less than half of the medical insurance plans they currently own encompass services that they value such as global drug search (77%), second medical opinions (76%), and cross-border medical support (72%).

Additionally, only 43% of plans offer full single-room coverage, a priority for Hong Kong residents, and just 55% provide international medical services.

The report also found that more than half (54%) of residents want the quality of cross-border medical services to improve. With better services, the current usage rate of such services could increase by 48%.

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit