(2024) Expat Health Insurance in Hong Kong: All You Need to Know

Millions of people choose to move overseas every year. Whether you are relocating for a job, a new lifestyle, or retirement, moving can be exciting – but it can also bring about upheaval and stress.

One of the biggest factors to consider when moving abroad is how you will access healthcare in your new home, especially if you are moving with a young family or you are a retiree dealing with an existing condition.

Alea experts have gathered all you need to know about health insurance as an expat.

Why foreigners should get health insurance in HK

Hong Kong’s world-class healthcare system consists of public and private sectors, both of which are equipped with the latest medical technology operated by highly trained medical staff who speak good English. However, Hong Kong also has some of the world’s highest healthcare costs. It ranks second most expensive in the world after the US. Because of this, expats are advised to ensure they have adequate insurance coverage.

To give an idea of costs in Hong Kong:

• Cancer treatment: HK$1 million to $2 million
• Childbirth, uncomplicated vaginal, standard room level: HK$70,000 to $100,000
• Childbirth, emergency C-section, standard room level: HK$250,000 or even more

Finding a health insurance plan should therefore be a top priority when you plan your move to Hong Kong – especially considering that even if your employer covers you with group health benefits, it may not be sufficient. To enhance their protection, many expats get individual health insurance (called a top-up plan) in addition to the one provided by their employer.

Why you shouldn’t rely solely on your employee health benefits

Look carefully at the policy wording for your group health insurance plan. You may find that it doesn't provide enough coverage, or that you can't take your coverage with you if you leave the company.

Insufficient coverage

Even if your employer provides group medical insurance, the coverage may not be sufficient if you become seriously ill.

In one case, an expat had to set up a crowdfunding campaign to raise money for cancer treatment. At that point, his treatment had exceeded the caps in his work health insurance plan, and his family had exhausted their own savings. Here, he had to choose between waiting six weeks for treatment in the public sector and asking friends and family for financial aid so that he could seek the immediate care he needed from a private facility.

This dilemma can be avoided with a top-up plan, which provides you with more coverage if there are strict sub-limits in your group plan.

Lack of portability

Very few expats realize that leaving or losing their job while living abroad can have serious consequences for their health coverage. In an overwhelming majority of cases, health insurance plans from employers are not portable. The few plans that are portable come with strict conditions.

How Alea can help you save on insurance

Why international health insurance is better than travel insurance for expats moving abroad

Although both types of insurance are designed for people spending time away from their home country, each product has a different purpose.

Be sure to get familiar with the differences, otherwise your coverage overseas might not be appropriate – and you could find yourself facing unexpected medical expenses.

Travel insurance

Travel insurance provides coverage for emergency treatment while you are in another country for a short period of time in order to get you well enough to return home. It rarely covers long-term medical treatment. If you need further treatment, you would be expected to return to your home country. Travel insurance cover ceases once you are back in your country of residence.

International health insurance

International health insurance is designed for those living or working overseas for a prolonged period of time. It covers treatment for both emergency and routine healthcare, and provides expats with choices in terms of doctor and treatment facility, along with the flexibility to receive treatment anywhere within their region of cover.

With international health insurance, you can seek treatment from private healthcare facilities when you need it. This way, you can avoid the long wait times of the public sector and have some peace of mind.

Well-known providers of international private medical insurance (IPMI) include Aetna, April, AXA Global Healthcare, Bupa, and Cigna.

5 factors to consider when searching for the right expat health insurance plan

Here’s what to keep in mind when you’re looking for a health insurance plan.

1. Benefits

In Hong Kong, there are generally three tiers of international health insurance plans that correspond to different needs and budgets:

Lower-tier plans cover inpatient treatment and major illnesses without many add-ons.

Middle-tier plans cover inpatient and outpatient treatment, as well as some maternity benefits and private hospital rooms. Compared to the lower-tier plans, these also have higher maximum limits for inpatient care.

Upper-tier plans provide the most comprehensive coverage of these three options, with, for example, annual health checks, routine maternity and elective c-sections.

2. Customer service

When searching for an insurance provider, find out what you can about their customer service. Do they provide assistance 24/7? Can you communicate with them by live chat or over a phone call? Do they offer translation services?

These might sound trivial at first, but whether you have a medical emergency or a question about your insurance claims, you should be able to contact your insurance provider for assistance.

3. Direct billing

Does your insurance offer direct billing? With direct billing, the insurer can arrange to pay the hospital, clinic or doctor directly so you do not have to pay for anything out of pocket and file a reimbursement claim afterwards.

It is therefore an excellent option for those living abroad if you are met with an unfortunate situation requiring medical treatment.

4. Claims processing

When it comes to insurance claims, some insurance providers have a strict policy to get you paid quickly while others may take up to a few months. An efficient claims process saves you time and stress.

5. Expertise

The role of an insurance broker is to help you find the best plan for you and/or your family that suits your needs and budget.

A specialist health insurance advisor will:

• Help you review and compare all relevant health insurance plans, including top-up plans
• Clearly explain how the market works, what the right options are for you and professionally answer all your questions
• Show you how co-pays and deductibles affect your overall health care costs
• Help you navigate complex situations if you encounter unforeseen claim issues
• Advocate in your best interests whenever you need

Read more:

• Guide to insurance brokers
• 9 questions you should ask your health insurance broker.