Hospital Cash Benefit Extended to Community Isolation Facilities! Free Telemedicine Included! Extra COVID-19 Benefits from Hong Kong Insurers (Updated April 2022)
Estimated reading time 7 minutes
04 Apr 2022
With the Omicron variant bringing the fifth and most severe wave of the pandemic across Hong Kong, the cumulative number of confirmed cases has now exceeded a million. Currently, some insurers in Hong Kong are still offering extra coronavirus specific benefits including hospital cash, quarantine cash, telemedicine, death benefit and others. However, a few insurers including Prudential, Hang Seng, Well Link and YF Life have withdrawn their offers.
The following is a summary of the offers (as of 1st Apr 2022) from AXA, Blue Cross, Bupa, Cigna, FTLife, Manulife, Sun Life and Tahoe. 10Life has compared the extra COVID-19 benefits and analysed the usefulness.
Table: COVID-19 Extra Protection
| Insurer |
AXA | Blue Cross | Bupa | Cigna |
| Eligible Products | Group Medical | Indemnity hospital, VHIS and group Medical |
Individual/ Medical/ Bupa Hang Seng |
Designated Products |
| Eligible Customers | Insured employees and dependents of eligible Employee Benefits hospitalisation policies |
Insured Members | New/ Existing | New/ Existing |
| Coverage Period |
From now until
further notice |
From now until
30 Jun 2022 |
From now until
31 Dec 2022 |
From now until
30 Jun 2022 |
| Death Benefit | - | - | - | - |
| Hospital Cash | $700 per day | $800 per day | $800 per day | - |
| Maximum Hospital Period |
45 days | 45 days | 45 days | - |
| Quarantine Benefit | - | - | - | $2000 per day (home/specified facility/ hospital, up to 14 days) for Cigna HealthFirst Elite only |
| Telemedicine |
- | - | From 1 April to 30 June 2022, Bupa offers 2 free video consultations services. Consultation fee, basic medication fee and medication delivery charges will be waived.1 |
Cigna waives medication delivery charges and copays (if applicable) for customers of designated products using Cigna Telehealth Service.2 |
| Waiting Period | Waived | - | - | - |
| Express Claims | - | Priority | Priority | Priority |
| Insurer | FT Life | Manulife | Sun Life | Tahoe Life | |
| Eligible Products | MediGold Plus Insurance Plan |
Individual Financial/ Group Medical |
Designated Medical Plans |
All | |
| Eligible Customers |
New/ Existing | New/ Existing3 | New/ Existing | Existing | |
| Coverage Period | Per policy year | From now until 30 Jun 2022 | From now until 30 Jun 2022 |
From now
until 30 Jun 2022 |
|
| Death Benefit | - | - |
$100,0005 | - | |
Hospital Cash |
- | Extended coverage for hospitalization in designated community treatment facilities4 |
Extended coverage for hospitalization in designated community treatment facilities6,7 |
$800 per day | |
| Maximum Hospital Period |
- |
Depend on policies |
Depend on policies |
50 days | |
| Quarantine Benefit | $2,000 per day for worldwide or worldwide excl. US plan and $1,200 per day for Asia plan (home/specific facility, up to 15 days per policy year) |
- | - | - | |
| Telemedicine |
- | - | - | - | |
| Waiting Period | Shortens to 3 days if the policy is approved on or before 31 May 2022 |
- | - | Waived | |
| Express Claims | - | - | - | 1 day | |
Remarks:
|
|||||
Hospital cash benefit up to $40,000
In Hong Kong most people buy medical insurance to get quick and comfortable treatment services at private hospitals. Given COVID-19 patients are being treated in public hospitals which are virtually free of charge, the common medical insurance products offer limited protection on this commutable disease.
In response many insurance companies in Hong Kong have launched additional free coverage on COVID-19. One key feature is hospital cash benefits, so the insured can still enjoy cash subsidies from even when admitted to a public hospital. The coronavirus hospital cash benefit is usually on a daily (or weekly) basis, with an overall limit on the total value and/or benefit period. As the treatment and observation time on confirmed COVID-19 cases can still be uncertain, a longer benefit period would be beneficial to the customer.
Tahoe offers daily cash benefit of $800 and a maximum of 50 days (i.e. $40,000), but it is available to existing customers only.
Given the latest situation, Manulife and Sun Life have extended the hospital cash benefit of designated policies to community treatment facilities, including Hong Kong AsiaWorld-Expo and Penny’s Bay Quarantine Centre. Sun Life also covers North Lantau Hospital Hong Kong Infection Control Centre and 4 other community isolation facilities (Tsing Yi, San Tin, Fanling and Hong Kong Boundary Crossing Facilities Island of the Hong Kong-ZhuhaiMacao Bridge).
Some quarantine cash benefits cover home quarantine
Only Cigna and FTLife are still offering quarantine cash benefits. Cigna provides daily cash of $2000 for up to 14 days (for Cigna HealthFirst Elite).
FTLife offers a daily cash of HK$2,000 (for MediGold Plus worldwide or worldwide excluding US) or HK$1,200 (for MediGold Plus Asia) for up to 15 days per policy year.
These quarantine cash benefits are offered in lieu of hospital cash benefits when the insured is isolated involuntarily at a specified quarantine facility or hospital due to coronavirus. Some plans also cover mandatory home quarantine (for Cigna HealthFirst Elite and FT Life MediGold Plus customers).
Telemedical and death benefit
Bupa offers 2 free video consultations services for existing members who test positive for COVID-19 and are symptomatic. From 1 April to 30 June 2022, its members can consult our selected general practitioners via video call, and the consultation fee, basic medication fee and medication delivery charges will be waived. This free benefit will be provided regardless of whether the member currently has any clinical coverage.
Cigna waives medication delivery charges and copays (if applicable) for customers of designated products using Cigna Telehealth Service.
Also, Sun Life provides a death benefit due to coronavirus of $100,000 for clients of designated products.
Other special COVID-19 related offers include wavier of waiting period so that new customers can also get coronavirus coverage immediately, and express claims processing as fast as 1 day. Most insurers are offering these coronavirus benefits as extra free coverage to both existing and new customers. Some insurers offer certain benefits only to new customers to drive sales.
Choose the products which meet your needs
Although some of these free extra benefits have limited actual dollar value and coverage period, they can be considered as a nice gesture from the insurer to the customer. While this COVID-19 crisis has prompt us to think about our protection gap, we should choose insurance products based on overall personal needs, not only the coronavirus coverage. The coverage against COVID-19 is limited for most insurance products in Hong Kong.
- Medical Insurance: As diagnosed COVID-19 cases are being treated in public rather than private hospitals, the coverage amount is limited. However, it should be considered if you want coverage for medical cases (other than commutable diseases) at private hospitals.
- Critical Illness Insurance: COVID-19 is not yet a specified disease covered. However, if the coronavirus leads to other complications (e.g. chronic lung disease, stroke, heart attack) or ICU stay, it can be covered under some products.
- Life Insurance: If the insured dies from COVID-19 the beneficiary will be compensated. In particular, term life insurance offers relatively high coverage at low cost, making it a good protection option during times of uncertainty. [Read more]
Insurance is a risk transfer tool and you get compensations from the insurer when the risk event occurs. However, we can all do our share by observing personal hygiene and practising social distancing, thereby minimising the risks for our community.
Further Reading:
Note:
1. This article is provided by 10Life. All information is for reference only. The article does not take into account any personal needs and suitability, and do not constitute any sales advice. You should seek independent advice from licensed insurance advisors before purchasing any insurance products. Latest information from insurance companies shall prevail.
2. The above information is updated as of April 1, 2022.
Disclaimer
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信諾 | Cigna
Cigna HealthFirst Elite Medical Plan
Limited offer
Enroll now to enjoy up to 6-month premium refund!
保柏 | Bupa
Bupa Hero VHIS Plan (Advance)
Limited offer
Enjoy 10% off for single enrolment and Up to 50% off for 3 family members in May! Premiums paid are eligible for claiming tax deduction of up to $8000!
安盛 | AXA
AXA WiseGuard Pro Medical Insurance Plan (Enhance)
Limited offer
Once you successfully apply for a new basic plan/supplement of AXA WiseGuard Pro Medical Insurance Plan1 and satisfy other applicable requirements, you may enjoy up to 7 months’ premium refund%!
永明金融 | Sun Life
WeHealth Prestige
Limited offer
【Stay home & GO Virtual】Apply for WeHealth Prestige and enjoy 6 months premium rebate!
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