【Premium Medical Insurance: A Powerful Contender Arrives】Beyond an expected perfect average coverage score, it stands out with these three key features!

In recent years, high-end medical insurance has continued to evolve, with most plans offering worldwide coverage. This has made them popular among executives who frequently travel overseas for work or leisure, students pursuing education abroad and high-net-worth customers. Many high-end medical insurance products on the market offer an expected average coverage rate of 100% (see Note 1). To stand out from the competition, insurers must offer products with distinctive features. Cigna, which has consistently ranked first in high-end medical insurance ratings (Note 2), has specifically selected its flagship product — Cigna HealthFirst Elite Medical Plan — to demonstrate its thoughtful product design and redefine top-tier high-end medical insurance coverage.

Annual maximum benefit of up to HK$50 million — surpassing all comparable products in Hong Kong (see Note 3)

Hong Kong is experiencing severe medical inflation, highlighting the importance of a high benefit limit in medical insurance. Medical inflation reached 8.3% and 8.1% in 2019 and 2020 respectively (see Note 4), significantly exceeding comparable price indices. In addition, Hong Kong’s ageing population has become a concern. By 2036, the proportion of people aged 65 and above is expected to increase to 31% (see Note 5), while average life expectancy continues to rise. In the long term, medical costs are certain to become increasingly expensive.

Another factor that must not be overlooked when selecting a suitable medical insurance benefit limit is the steadily rising incidence of cancer. Cancer treatment is by no means inexpensive. At present, an average of 93 people in Hong Kong are diagnosed with cancer every day (see Note 6), and cancer is increasingly affecting younger people. The probability of developing cancer before the age of 75 is approximately 25% for men and 20% for women (see Note 7). Taking the common example of colorectal cancer, the total treatment cost in the private healthcare sector can reach HK$1,293,000 (median figure, see Note 8).

Although high-end medical insurance generally reimburses medical expenses in full without setting itemised benefit limits, the benefits remain subject to the annual maximum benefit and lifetime benefit limit. Cigna HealthFirst Elite Medical Plan breaks through these limits, offering an annual maximum benefit of up to HK$50 million, with no lifetime benefit limit. This allows you to focus on treatment with peace of mind, without worrying about medical inflation.

Hospital Cash Benefit — rare in the market and available for both public and private hospitals

To control the overall cost of medical claims, some insurers provide their high-end medical insurance customers with a Hospital Cash Benefit for semi-private wards, allowing insured persons to stay in a ward below the level covered by their plan and thereby reduce medical expenses. However, Cigna HealthFirst Elite Medical Plan offers its customers an exceptional Hospital Cash Benefit. This thoughtful benefit, which is rare in the market, provides a daily benefit of up to HK$2,000, for a maximum of 45 days per policy year, when the insured person receives inpatient treatment without having to stay in a lower-class ward. The hospital cash benefit is not restricted to any particular use and can support other expenses arising from hospitalisation, such as hiring a temporary hourly domestic helper or a carer to look after loved ones, or making up for lost income when the insured person is unable to work.

In addition, in response to the widespread outbreak of COVID-19, Cigna became the first in Hong Kong to provide Cigna HealthFirst Elite Medical Plan customers with a compulsory quarantine cash benefit of HK$2,000 per day as early as February 2020 (see Note 9). The benefit lasts for up to 14 days and has no waiting period, with the aim of minimising the impact of quarantine on customers.

For cancer treatment, full reimbursement of outpatient care for 365 days after discharge

Another key feature of top-tier high-end medical insurance is the duration of outpatient care coverage before and after hospitalisation. In addition to the hospital stay, a typical course of medical treatment includes diagnosis and examinations before admission to help determine the cause of the illness and the appropriate treatment. It also includes follow-up outpatient care after discharge to help you recover more quickly. Cigna HealthFirst Elite Medical Plan provides full reimbursement for outpatient care received within 30 days before hospitalisation or an outpatient surgery, and within 180 days after discharge or surgery, up to a maximum of 90 visits per policy year. As cancer treatment may take longer, the product extends the coverage period for outpatient cancer treatment after discharge to 365 days, allowing you to focus on your recovery.

Flexible product design and no payment required upon discharge

To build a protection plan that suits your needs, a product must offer flexibility. Cigna HealthFirst Elite Medical Plan provides a range of optional benefits to meet your needs:

• Outpatient benefits: Covering various treatment expenses, including Western medicine and Chinese medicine.
• Medication benefits: Prescription costs for Western medicines for major illnesses, with an annual maximum benefit of HK$80,000 (see Note 10).
• Dental benefits: Full reimbursement for the cost of two dental scaling treatments each year, as well as X-rays and general dental treatment.
• Deductible discount: Accumulating a 10% deductible discount each year as a reward (see Note 11).
• Premium waiver for cancer: If you are unfortunately diagnosed with cancer, six months’ premiums will be waived.

You can also use the “admission without deposit, discharge without payment” service at more than 7,000 hospitals worldwide, without having to worry about the claims process during your hospital stay.

If you are unfortunately diagnosed with a serious illness, Cigna can also assign you a dedicated medical services manager to provide one-to-one support. The manager will be responsible for following up on arrangements such as hospital admission for surgery or treatment, while also providing emotional support for you and your family. It is worth noting that Cigna’s medical services managers are registered nurses with extensive clinical experience. This is a real-person support service, not merely a hotline or telephone number.

3 areas of coverage and 5 deductible options to meet different needs

Cigna HealthFirst Elite Medical Plan offers semi-private ward (see Note 12) and standard private ward plans, with different areas of coverage. The semi-private ward plan covers Asia (including Australia and New Zealand, see Note 13), while the standard private ward plan offers coverage in Asia (including Australia and New Zealand), as well as options covering worldwide excluding the United States and worldwide including the United States.

The product offers 5 annual deductible options (see Note 14), allowing you to obtain coverage at a lower premium and easily manage your personal budget. You may also use benefits from your individual or group medical insurance as the deductible to obtain higher medical protection. Once the policy has been successfully taken out, Cigna HealthFirst Elite Medical Plan guarantees renewal up to the age of 100, regardless of any changes in your health in the future.

Table: Comparison of the standard private ward and semi-private ward plans under Cigna HealthFirst Elite Medical Plan

Notes:

1. 10Life calculates the expected average coverage based on medical expenses under normal circumstances for a number of common illnesses and injuries involving different levels and types of medical services, and compares these with the benefit limits of medical products using 10Life actuaries. For details, please refer to “Methodology for Rating Mass Market Medical Insurance”. The expected coverage rates for the illnesses and injuries above are calculated based on the expected medical expenses for those illnesses and injuries under normal circumstances. They are intended to indicate the approximate medical expenses that medical insurance and consumers are expected to bear and are for reference only. They have not been confirmed by the relevant insurers.
2. Ranked first in the market in the standard private ward category of 10Life’s high-end medical insurance ratings as at 30 September 2021.
3. Information as at 31 March 2021.
4. Figures taken from Aon’s “2020 Global Medical Trend Rates”.
5. Figures exclude foreign domestic helpers and are taken from the Hong Kong Population Projections published by the Census and Statistics Department.
6. Figures taken from the Hong Kong Cancer Statistics Overview on the Hong Kong Cancer Information Statistics Centre webpage of the Hospital Authority.
7. Same as above.
8. Figures taken from the press release “Government lacks planning for cancer treatment in Hong Kong Survey: Misconception that government cancer treatment costs are low leads Hong Kong people to underestimate public hospital colorectal cancer drug costs by 19 times” published by Cancer Information Charity.
9. Applicable only to compulsory quarantine certified by a doctor as necessary due to a confirmed or suspected COVID-19 infection.
10. The optional medication benefit has a lifetime maximum benefit of HK$500,000.
11. If you have not made any claims under the basic benefits during the preceding policy year, you may enjoy a “deductible discount” from the policy anniversary.
12. If the selected ward category is semi-private ward and the insured person is hospitalised in a standard private ward in Hong Kong or Macau, benefit payments for expenses under the “basic benefits” will be adjusted to 50%; expenses in other parts of Asia will be reimbursed in full.
13. Asia refers to Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kyrgyzstan, Laos, Macau, Malaysia, the 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. Coverage is subject to the compliance with economic sanctions provisions in the policy.
14. The deductible applies to the “basic benefits”, but excludes the “compulsory quarantine cash benefit”, “Hospital Cash Benefit” and “accidental death benefit”.
15. Children under 6: the child must apply for cover together with you. The child’s area of coverage must be the same as that of the parents. If your policy terminates, the child’s policy will also terminate. Children aged 6 or above: the child does not need to apply for cover together with you or your spouse. If your policy terminates, the child’s policy will remain in force.
16. The above information was provided by Cigna and updated as at 18 October 2021. It is for reference only and does not constitute an offer for sale. The product information does not represent the full coverage and features of the insurance product. The specified insurance plans are subject to their policy terms and conditions. For details of the product features, coverage, terms, conditions and exclusions, please visit Cigna’s website and refer to the relevant product brochures and policy terms and conditions.
     

This English version of this article has been generated by machine translation powered by AI. It is provided solely for reference purposes. In the event of any discrepancy or inconsistency between this translation and the original Chinese version, the Chinese version shall prevail.