RETHINK: Should you purchase health insurance in your 20s?
Medical Insurance

RETHINK: Should you purchase health insurance in your 20s?

8 Mins read

Buying health insurance at the prime of your health could be the best decision you can make in your 20s. The public health resources have been under increasing strain while private healthcare certainly does not come cheap, medical insurance will help you to cover the bills in the event of an unexpected illness or accidents.

Let's debunk a few myths on medical insurance:

Truth: The lower the age of the insurer, the lower the premium will be, according to the calculations used by Hong Kong's Voluntary Health Insurance Scheme. Starting early on health insurance is vital as full coverage for unknown pre-existing conditions will only be provided from 4th year onwards1.

Truth: Instead of just looking at the premium, you should compare all the benefits available for each option. Find out about the co-payment amount required in your plan as lower-cost plans are usually more restricted. As you get older, review your plan and upgrade if necessary to meet your healthcare needs.

Truth: Coverage provided by your company's plan is usually not so comprehensive and may be inadequate to pay for more serious medical needs. Furthermore, you will lose the coverage when you are no longer under employment. Having your own policy will give you better protection and peace of mind.

Truth: Most plans offer services such as routine screenings and immunization for preventive care; health insurance is more than just making claims for hospitalization bills.

It’s never too early to plan for the unpredictable. Starting early on health insurance is vital. Young parents, in particular, should also get health insurance for their children as early as possible. Public healthcare system in Hong Kong has been overloaded for some time. To plan the best for your children, private hospital - which medical expenses are comparatively higher - is a more common choice. An all-rounded medical plan can lessen parents’ financial burden when the time comes.


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  1. Eight health insurance myths debunked
  2. 11 Common Myths About Health Insurance Busted
  3. Why get Health Insurance Coverage if you are under 30
  4. Voluntary Health Insurance Scheme (VHIS)

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