Comparison of High-end VHIS Plans
How many high-end VHIS Plans are available on the market?
Since the launch of VHIS, it has been popular among consumers. In order to give more protection, many insurance companies work hard on product design and have launched high-end VHIS Plans with more comprehensive coverage.
As of February 2023, a total of 16 insurance companies in Hong Kong have launched over 35 high-end VHIS plans, each with at least three deductible options , including Bowtie Pink (Semi-Private/ Private).
Comparison of 3 high-end VHIS plans
Bowtie selected 2 other high-end VHIS that offer online application options for comparison. All 3 companies offer plans of different levels that could support expenses in standard, semi-private and private wards, cover different regions, and with different lifetime/annual benefit limits.
The actual benefit for the insured person depends on the level of the chosen plan.
- Comparison of covered hospital wards and region
| Bowtie | Company B | Company C | |
| Covered ward type | Standard/Semi-private/Private Ward👍🏽 | Semi-private room/Private Ward | Standard/Semi-private Ward |
| Area of Coverage | Global1👍🏽 | Asia, Australia and New Zealand/ Global2 | Asia 3/Global |
- *Psychiatric treatment coverage is limited to Hong Kong
- 1Excluding hospitals in the United States and some hospitals in China
- 2Excluding hospitals in the United States
- 3Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kyrgyzstan, Laos, Macau, Malaysia, Maldives, Mongolia, Myanmar, Nepal, New Zealand, North Korea, Pakistan, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan, and Vietnam
- Bowtie provides coverage to standard, semi-private and private wards worldwide (excluding hospitals in the US and some in China).
- Company B offers 4 levels of plans:
- Level 1: Covers semi-private rooms in Hong Kong, Macau, Taiwan, and Mainland China, and standard private rooms in other parts of Asia, Australian, and New Zealand.
- Level 2: Covers semi-private rooms in Hong Kong, Macau, Taiwan, and Mainland China, and standard private rooms worldwide (excluding the US).
- Level 3: Covers private rooms in Asia, Australia, and New Zealand.
- Level 4: Covers private rooms worldwide (excluding the US).
- Company C offers coverage to standard/semi-private wards in Asia.
The so-called “high-end VHIS” mostly covers semi-private rooms or above. So when choosing a plan, you can examine your own needs before applying:
- If you unfortunately fall ill, would you prefer to have a room to yourself to rest and recover?
- Do you have any specific room requirements (such as a private bathroom, TV, WiFi, or even a small living room)?
If you already have a long list of room requirements, a “private room plan” may be more suitable for you!
However, plans that cover “private wards” are generally more expensive, so it is recommended to budget carefully before applying. For example, for a 30-year-old person (regardless of gender/smoking status) applying for a Bowtie Pink VHIS with a deductible of HK$50,000:
| Ward | Semi-private | Private | |
| Premium | HK$208 | HK$299 (43.75% more expensive) | HK$547 (162.9% more expensive, almost 2x） |
Comparison of basic coverage items:
| Bowtie | Company B | Company C | |
| Specialist’s fee1 | Full coverage3 | ||
| Bowtie | Company B | Company C | |
| Room and Board | Full coverage3 | Full coverage3 (Up to 180 days per year) | |
| Attending doctor’s visit fee | |||
| Intensive care | Full coverage3 (Up to 25 days per year) | ||
| Bowtie | Company B | Company C | ||
| Surgeon’s fee | Full coverage3 | |||
| Anaesthetist’s fee | ||||
| Operating theatre charges | ||||
| Day case procedure cash benefit | HK$1,300/ Session | X | X | |
| Bowtie | Company B | Company C | |
| Prescribed non-surgical cancer treatments4 | Full coverage3 | ||
| Psychiatric treatments (Inpatient treatment only)1 | |||
| Outpatient kidney dialysis#1 | |||
- 1 The company reserves the right to request supporting documents for written advice, such as referral letters or statements provided by the attending physician or registered doctor in the claim application form.
- 2Including: Radiotherapy, Chemotherapy, Targeted therapy, Immunotherapy, Hormonal therapy
- 3Full coverage refers to no benefit limit for each item, and the insurance company will provide full compensation for medical necessary treatment/hospitalization expenses based on the "annual/lifetime benefit limit".
- #Only for outpatient consultation
What are the differences between 3 High-end VHIS plans?
Similarities:
All three plans provide full compensation for the basic coverage, without benefit limit for individual items, and are only affected by (1) the annual benefit limit, (2) the lifetime benefit limit, and (3) whether the medical expenses are necessary.
Differences:
Some plans have specified limits to treatment days, such as Company C, which has restrictions on hospitalization days. In addition, they also provide different additional/special coverage, such as Bowtie‘s Day case procedure cash benefit, which is not provided by the others.
Since the structure of high-end medical products is relatively complicated, the above article only lists some of the basic coverage. If you are particularly interested in a certain plan, it is best to download the relevant benefit table before deciding to apply, and carefully read whether the plan covers the items that meet your needs, in order to avoid over- or under-insurance situations.
You can view all details on the website of the Voluntary Health Insurance Scheme of the Health Bureau.
3. Comparison of annual and lifetime benefit limit
| Bowtie | Company B | Company C | ||
| Standard Ward Plan | Annual Benefit Limit | HK$8m | Not available | HK$5m |
| Lifetime Benefit Limit | HK$40m | Not available | ||
| Semi-Private Ward Plan | Annual Benefit Limit | HK$10m | HK$25m – 35m | HK$30m |
| Lifetime Benefit Limit | HK$50m | Not available | Not available | |
| Private Ward Plan | Annual Benefit Limit | HK$20m | HK$30-40m | Not available |
| Lifetime Benefit Limit | HK$80m | Not available |
From the above table, you could see that Company B and C’s plans do not have a “lifetime benefit limit”, and provide a higher “annual benefit limit”. Policyholders do not need to worry about inadequate coverage, but of course, they also need to pay a higher premium.
In the following text, we will show you the premiums of the three plans to allow for a comprehensive comparison.
4. Comparison of Deductibles
| Bowtie | Company B | Company C | |
| Deductible | HK$0 – HK$80k | HK$0 – HK$80k | HK$0 – HK$75k |
In order for individuals to purchase high-end VHIS plans with a lower budget, insurance companies usually offer multiple deductible options.
Deductibles allow policyholders to match their newly purchased high-end plan with the existing medical protection, to get the most suitable medical coverage with affordable premium. Since everyone’s medical needs, financial situation, and existing coverage are different, there is actually no never an ideal deductible amount.
If you are also covered by other individual medical insurance or group medical insurance, you can determine the amount of the deductible based on your existing coverage. For example, if your existing coverage is sufficient to compensate for HK$80k in medical expenses, then you can choose a high-end VHIS with an HK$80k deductible, ensuring that all medical expenses can be fully reimbursed by 2 plans.
If you want to get more detailed guidance on deductibles, you can click here to read more.
Monthly Premium Comparison
To allow for a fair comparison, we have chosen the most similar plans from the three companies for premium comparison:
- Deductible from HK$40,000 to HK$50,000
- Cover semi-private room
| Bowtie | Company B^ | Company C^ | |
| Deductible | $50k | $40k | $50k |
| Covered ward type | Semi-Private Room | ||
| Premium | |||
| 10 | $227 | $365 | $267 |
| 20 | $251 | $378 | $275 |
| 30 | $317 | $443 | $362 |
| 40 | $385 | $635 | $465 |
| 50 | $648 | $991 | $722 |
| 60 | $1019 | $1770 | $1231 |
| 70 | $1,833 | $3220 | $2053 |
- The above premiums are not affected by gender.
- *Assuming the insured person does not smoke
- ^Calculated by dividing the annual premium by 12 months (rounded up)
- Note: The above standard premiums were obtained from the Health Bureau on December 7, 2023. Insurance companies may update premiums from time to time. Please refer to the official website for current prices.
We recommend that you budget carefully before purchasing, calculate the monthly premium amount that you can afford, and be a smart consumer.
Of course, if you find that the premium increase is unreasonable and difficult to afford after several years of coverage, you can switch to another company in a timely manner!
As there is no unified standard for the design of high-end VHIS products, the coverage scope of different plans can vary greatly. Therefore, in addition to comparing premiums, it is recommended to spend more time comparing coverage items, deductibles, and other details of coverage, in order to find the plan that best suits one’s needs.
