What is VHIS?
There are two types of VHIS plans: Standard and Flexi. Both types of plans provide individual health insurance that reimburse your actual medical expenses.
Flexi plan
- Provide higher coverage or terms and conditions that exceed the minimum standards in the Standard Plan
- Encourage product innovation, competition and diversity to meet market needs
Standard plan
- Based on the government's minimum product specifications for VHIS
- Coverage specified within VHIS
How is VHIS different?
One key feature of VHIS is that it creates minimum standards for individual medical insurance. The coverage, terms and conditions of the policy are standardised. What's more, renewal is guaranteed up to age 100. Coverage is extended to unknown pre-existing conditions, day case procedures, non-surgical cancer treatments and psychiatric treatments. However, the standard premiums charged by different VHIS providers may vary by age and gender.
VHIS certified plans
Other individual medical insurance plans
a. Product specifications
Standard coverage, policy terms and conditions based on FHB's minimum product specifications
Coverage, policy terms and conditions are different for every insurer
b. Lifetime benefit limit
No lifetime benefit limit
May have a lifetime benefit limit
c. Renewal
Guaranteed renewal until age 100
Renewal isn't always guaranteed. Often, plans can be renewed every year up to an age limit.
*Bupa's medical insurance plans offer lifetime guaranteed renewal when renewal terms are met.
d. Coverage
Extended coverage for:
- Unknown pre-existing conditions:
First policy year: no coverage
Second policy year: 25% reimbursement
Third policy year: 50% reimbursement
Fourth policy year onwards: full coverage - Congenital conditions (appearing or diagnosed from age 8)
- Day case procedures (eg, endoscopy)
- Prescribed diagnostic imaging tests (including CT and MRI scans, subject to a maximum of 30% coinsurance)
- Prescribed non-surgical cancer treatments (including radiotherapy, chemotherapy, targeted therapy, immunotherapy and hormonal therapy)
- Psychiatric treatments
Usually, any conditions that existed before your insurance policy was in effect aren't covered. Congenital diseases and psychiatric treatment aren't typically covered either. Some medical insurance plans may not cover day case surgeries as well.
*Bupa's medical insurance plans do cover eligible day case procedures.
e. Tax deduction
Tax deduction for qualifying premiums can be claimed every tax year (up to HK$8,000 per insured person each year)
No tax deductions available
a. Product specifications
VHIS certified plans
based on FHB's minimum product specifications
Other individual medical insurance plans
Coverage, policy terms and conditions are different for every insurer
b. Lifetime benefit limit
VHIS certified plans
No lifetime benefit limit
Other individual medical insurance plans
May have a lifetime benefit limit
c. Renewal
VHIS certified plans
Guaranteed renewal until age 100
Other individual medical insurance plans
Renewal isn't always guaranteed. Often, plans can be renewed every year up to an age limit.
*Bupa's medical insurance plans offer lifetime guaranteed renewal when renewal terms are met.
d. Coverage
VHIS certified plans
Extended coverage for:
-
Unknown pre-existing conditions:
First policy year: no coverage
Second policy year: 25% reimbursement
Third policy year: 50% reimbursement
Fourth policy year onwards: full coverage
-
Congenital conditions (appearing or diagnosed after age 8)
-
Day case procedures (eg, endoscopy)
-
Prescribed diagnostic imaging tests (including CT and MRI scans, subject to a maximum of 30% coinsurance)
-
Prescribed non-surgical cancer treatments (including radiotherapy, chemotherapy, targeted therapy, immunotherapy and hormonal therapy)
-
Psychiatric treatments
Other individual medical insurance plans
Usually, any conditions that existed before your insurance policy was in effect aren't covered. Congenital diseases and psychiatric treatment aren't typically covered either. Some medical insurance plans may not cover day case surgeries as well.
*Bupa's medical insurance plans do cover eligible day case procedures.
e.Tax deduction
VHIS certified plans
Tax deduction for qualifying premiums can be claimed every tax year (up to HK$8,000 per insured person each year)
Other individual medical insurance plans
No tax deductions available
If I've already purchased a personal hospital insurance plan, can I transfer to a VHIS plan?
Yes, if your insurance company has registered to participate in VHIS. Registered companies are obligated to provide an opportunity for current policy holders of individual hospital insurance to transfer their existing plan to a VHIS certified plan. But the specific transfer plan and arrangements for each company may be different.
What's a successive policy holder?
If you're a policy holder for your family member(s), you can choose a person to take your place as the policy holder in case you pass away. If you don't choose a successive policy holder, the ownership of the policy will be transferred to the insured person (if age 18 or older) or his/her parent or guardian.
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VHIS plan:
Talk to us
Contact our health management consultant to get details and advice.
2517 5860
Mon-Fri 9am-9pm (except public holidays)