Compare the coverage and price of Voluntary Health Insurance Scheme (VHIS)
Voluntary Health Insurance Scheme ("VHIS") mainly covers the hospitalisation costs incurred by the insured. The VHIS policyholder can enjoy tax deductions on the premium paid. The VHIS Standard plan has minimum standards prescribed by the government such that these plans offered by different insurance companies have very similar coverage. The VHIS Flexi plan is built upon the Standard plan by providing higher coverage through higher benefit limits or adding Supplementary Major Medical ("SMM").
Some VHIS plans in the market have similar product structures to mass market medical insurance, with coverage limits on certain medical cost items; some VHIS plans offer "full coverage" on most medical cost items as long as they fall within the annual and lifetime limits. VHIS plans are annually renewable with premium rate based on the age of the insured, and claims are on a cost reimbursement basis. 10Life compares VHIS products based on the estimated coverage ratios* under common medical scenarios (including cancer, angioplasty, outpatient hemodialysis).
*Medical costs under the scenarios are adjusted according to the room type (e.g. ward, semi-private) admitted at a Hong Kong private hospital.
VHIS products are certified by the Food and Health Bureau (FHB) to comply with the minimum requirements as follows:
- Standardised policy terms and conditions
- Minimum benefit coverage and amounts
- Premium transparency and cooling-off period of 21 days
- No lifetime benefit limit (except for some flexi plans)
- Covers unknown pre-existing conditions
- Covers treatment of congenital conditions
- Covers day case procedures
- Covers prescribed diagnostic imaging tests
- Covers prescribed non-surgical cancer treatments
- Covers psychiatric inpatient treatments in local hospitals