Voluntary Health Insurance Scheme - Bill Passed

[shri]

Went unnoticed... but the bill was passed on the 31st October, 2018.

Have honestly not researched this and since there are no approved plans at the moment, have no comment on the quality of schemes, cost and insurers.

Under the arrangement, a taxpayer can claim deductions for premiums paid up to $8,000 per insured person for insurance policies procured for the benefit of the taxpayer and all specified relatives.

With the bill's passage, the Voluntary Health Insurance Scheme Office which was established earlier, will invite insurers to participate in the scheme and submit products for certification.

The first batch of certified plans is expected to be approved in early 2019 and taxpayers who pay the premium for them on or after April 1 that year will be eligible for a tax deduction.

https://www.news.gov.hk/eng/2018/10/...ry&name=health

and

https://www.vhis.gov.hk/en/

[kamoteboy911]

Anyone use or moved to VHIS?

Should I get the regular medical insurance or choose VHIS?

Thanks.

[hongkong7]

Anyone use or moved to VHIS?

Should I get the regular medical insurance or choose VHIS?

Thanks.

Yes I moved to this scheme via manulife and to be honest it's a darn good deal for a family : the tax break helps pay for a good part of it : also list of exclusion very modest : premium reasonable and they can't throw you off the scheme so if you get it for your kid first class cover they are set for life : it's also got worldwide evac cover which I was amazed was include : I even enrolled my helper as a fringe benefit for her : they include decent amount for amount for cancer and dialysis too on what is a very reasonable premium : why more people don't go for this I don't know : there is even a web site to direct compare different company offering

[shri]

@hongkong7 - were you a Manulife customer before switching to this scheme?

Should look at this as our policies come up for renewal in Feb 2020 and if an easy switch can be made (assuming something comparable is available - which I sort of doubt) then I will look harder.

[hongkong7]

@hongkong7 - were you a Manulife customer before switching to this scheme?

Should look at this as our policies come up for renewal in Feb 2020 and if an easy switch can be made (assuming something comparable is available - which I sort of doubt) then I will look harder.

No I was with blue cross before which is cheap company plan but at that early stage blue cross would not make direct switch to vhis for me to an upgrade level of cover : so I compared plans and manulife seemed more straight forward and were cool with some pre existing stuff : so just for that reason took up from scratch with manu rather than a simple switch to vhis bluecross

[shri]

Thanks! I'll have to email my agent at Manulife and see if discounts etc carry over or if a hybrid plan of sorts can be created/exists.

[kamoteboy911]

Yes I moved to this scheme via manulife and to be honest it's a darn good deal for a family : the tax break helps pay for a good part of it : also list of exclusion very modest : premium reasonable and they can't throw you off the scheme so if you get it for your kid first class cover they are set for life : it's also got worldwide evac cover which I was amazed was include : I even enrolled my helper as a fringe benefit for her : they include decent amount for amount for cancer and dialysis too on what is a very reasonable premium : why more people don't go for this I don't know : there is even a web site to direct compare different company offering

I inquired about the VHIS from Manulife and still got some confusion if it is worth it to get the flexi with semi private or just the ward is enough.
is it ok for you to mention which one you choose why did you choose it?

Here are some prices I was quoted.

Standard VHIS Plan:
Male - 36
- Annual Premium - $2,136
Female - 36
- Annual Premium - $2,949
Son - 6
- Annual Premium - $1,412

VHIS Flexi Plan :
Male - 36
- Ward AP - $2,644 , Major Medical - $4,500 , Major Medical Plus - $5,317
- Semi-Private AP - $5,397, Major Medical - $7,518, Major Medical Plus -$9,399
- Private AP - $10,465, Major Medical - $14,099, Major Medical Plus -$16,925

Female - 36
- Ward AP - $3,650, Major Medical - $5,487, Major Medical Plus - $6,484
- Semi-Private AP - $6,581, Major Medical - $9,167, Major Medical Plus -$11,460
- Private AP - $12,760, Major Medical - $17,191, Major Medical Plus -$20,637

Son - 6
- Ward AP - $1,748, Major Medical - $2,97 , Major Medical Plus - $3,515
- Private AP - $3,568, Major Medical - $4,970, Major Medical Plus - $6,214
- Private AP - $6,919, Major Medical - $9,321 , Major Medical Plus -$11,189

Pre-existing condition is 100% reimbursable after 4 years.

[hongkong7]

I inquired about the VHIS from Manulife and still got some confusion if it is worth it to get the flexi with semi private or just the ward is enough.
is it ok for you to mention which one you choose why did you choose it?

Here are some prices I was quoted.

Standard VHIS Plan:
Male - 36
- Annual Premium - $2,136
Female - 36
- Annual Premium - $2,949
Son - 6
- Annual Premium - $1,412

VHIS Flexi Plan :
Male - 36
- Ward AP - $2,644 , Major Medical - $4,500 , Major Medical Plus - $5,317
- Semi-Private AP - $5,397, Major Medical - $7,518, Major Medical Plus -$9,399
- Private AP - $10,465, Major Medical - $14,099, Major Medical Plus -$16,925

Female - 36
- Ward AP - $3,650, Major Medical - $5,487, Major Medical Plus - $6,484
- Semi-Private AP - $6,581, Major Medical - $9,167, Major Medical Plus -$11,460
- Private AP - $12,760, Major Medical - $17,191, Major Medical Plus -$20,637

Son - 6
- Ward AP - $1,748, Major Medical - $2,97 , Major Medical Plus - $3,515
- Private AP - $3,568, Major Medical - $4,970, Major Medical Plus - $6,214
- Private AP - $6,919, Major Medical - $9,321 , Major Medical Plus -$11,189

Pre-existing condition is 100% reimbursable after 4 years.

I looked at it like this : for each of those plans what is the total annual limit and what will that limit cover : the answer is for most ward plans it doesn't cover much in private : any decent size operation and you will be well well short : the semi private covers most stuff for instance operation for colon cancer : broken bone : admit for pneumonia : so I chose semi private for myself : for my young daughter I got her first class because not only covers all costs for any major event but also once she is in at that level by law they cannot downgrade or take off plan : it's difficult to up grade level of cover at later date if you find you under insured which I did for myself a while back : funny story after I got semi private for myself I got a totally unexpected health issue and thank goodness the annual limit covers it with a bit to spare : ward wouldn't have : so when it comes time for my operation I will be sitting pretty . Another thing I liked about manulife is they cover unknown congenital condition so for a child that is useful :