Government medical insurance plans are prepaid plans that cover core healthcare services. All nationals are eligible for these plans — all one has to do is enroll with the designated agency or a government-approved provider.
In Hong Kong, the Food and Health Bureau is responsible for the formulation of healthcare policies. The Department of Health, on the other hand, is in charge of the implementation of these healthcare policies. It is also responsible of safeguarding community health and does so through its various healthcare centers and health clinics.
VHIS, expanded as Voluntary Health Insurance Scheme, is a government scheme that provides citizens of Hong Kong with timely access to private healthcare. Private healthcare plans that comply with government-laid regulations are deemed VHIS plans.
The question that most people struggle with is: are government medical insurance plans better than private medical insurance plans? On the outside, the packaging of a private medical insurance plan maybe more appealing, but government insurance plans are always more reliable and comprehensive. Here are 5 reasons why you should go for a government medical insurance.
Guaranteed renewal with no age limit
One of the biggest benefits of a government medical insurance plan is that there is no age cap on renewal. VHIS offers guaranteed renewal up to the age of 100. Even the most generous private healthcare insurance providers put a cap on age when it comes to renewal. Generally, this cap is a number between 75 and 80.
Government plans provide cover for unknown pre-existing conditions
Most private health insurance plans include a statute that states that any medical condition for which an insured person has not sought diagnosis or medical care within the 6 months prior to the date of enrollment cannot be considered a pre-existing condition. This statute allows private insurance providers to exclude pre-existing conditions from their benefits coverage. VHIS, on the other hand, provides coverage for all unknown pre-existing conditions.
Zero worries of enormously high non-surgical cancer treatment costs
Basic private insurance plans do not generally cover private non-surgical cancer treatment costs. There are some advanced plans that provide coverage for non-surgical cancer treatment. However, these advanced plans often include people paying an inequitable premium.
With a VHIS plan, citizens can simply stop worrying about the sky-high cancer treatment costs.
Cover on out-patient basis
This is yet another benefit provided by VHIS plans. They provide coverage for advanced diagnostic and surgery services, such as PET-CT combined, PET-MRI combined, CT scan, MRI scan, and more on an out-patient basis. Private plans do not cover out-patient costs. There are, however, a handful of private healthcare insurance providers who do, but the charges can be pretty ridiculous.
Government agencies are any day more reliable than private institutions
Though private insurance providing companies have fared well in the recent past, the public has always felt doubtful of their reliability and trustworthiness. The government, on the other hand, has proved its reliability time and again, especially when it comes to community healthcare policies.
A good medical insurance plans ensures physical as well as mental well-being and thus, is a necessity. The Hong Kong healthcare system boasts of an excellent reputation and with the government taking staunch efforts to further better its healthcare standards, now is a good time to invest in a public medical insurance plan. If you are looking for one, check out this government medical insurance by Cigna.