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Why Medical Insurance Matters?

Why Medical Insurance Matters?


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Life is like a marathon, and health is our greatest edge to win it. Nobody wants to get ill, but diseases do not discriminate. A medical insurance policy can provide financial backing for unexpected health care costs and ongoing medical bills.


Why do we need medical insurance in Hong Kong?

The earlier you acquire medical insurance, the more comprehensive your coverage will be. As an individual grows old, their chances of falling sick naturally become higher. Taking out a health insurance policy at a later age means coverage tends to be more limited.

According to the Census and Statistics Department in Hong Kong, only 2.4 million people were covered by non-group-based, individual medical policies in 2016, amounting to only 30% of our population.1 The relatively low awareness of medical insurance is what the city needs to address.

The proportion of Hong Kong’s elderly residents aged 65 and over will significantly increase to 36 percent by 2064.2 An aging population will result in a growing demand for healthcare services in the public system. And in case of an overload, we will endure significantly higher costs for seeking help in the private sector.

Watch video: Why do you need a medical insurance on top of group medical plan?


Safeguard against financial burden

Along with an aging population, medical technology advancement and a higher inpatient cost all contribute to a higher healthcare cost. Treating diseases has increasingly become a financial burden for many Hong Kong families. This illustrates how important it is to plan ahead for our medical needs.

Ideally, a medical insurance policy should cover room and board, inpatient and outpatient surgery, as well as post-surgery medical costs. There are two types of plans, one type incorporated a saving element, others do not.

Make hay while the sun shines. Choose a health insurance policy that works for your insurance needs and financial ability. Don’t get caught off-guard by medical bills!




  1. SCMP - Hong Kong’s plan to steer 1.5 million people towards private health sector through Voluntary Health Insurance Scheme will be ‘challenging’
  2. HKSAR - Census and Statistics Department

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