Frequently Asked Questions
QIf I buy a maternity medical insurance plan and there is a waiting period, will no costs be covered if I get pregnant during that waiting period?
You will not be covered for any costs during the waiting period but will be covered afterwards. For example; if you fall pregnant during the waiting period but have your child after the waiting period, your scans before the birth will not be covered but the birth itself, and post birth costs will be.
QIf I am pregnant when I take out maternity medical insurance will my baby have guaranteed acceptance to the policy?
As you will still be in the waiting period when your baby is born then this is not a covered pregnancy, therefore when the baby is born, the usual application process will occur to add your baby to your plan including the underwriting process.
Always check the plan details to see what is covered and what isn’t covered during the waiting period and after in terms of your baby.
QIf I make claims with my medical insurance will it affect the price of my premiums the next year like car insurance?
This depends on the type of medical insurance plan you have opted for and is a very important consideration. The majority medical insurance providers use community pricing. This means the cost of claims made is spread across the “community” so that the increase in premiums can be kept to a minimum. With this type of medical insurance plan, you can expect to pay the same price as anyone your age, your sex with the same cover and you will not get priced out of your medical insurance when you claim.
QHow can I pay for my medical insurance?
Most medical providers offer, monthly, quarterly, semi-annual and annual payments however some firms do not offer monthly. You should be made aware of any increases in premiums due to paying it in more installments. Firms can increase the premium by up to 7% for monthly payments.
QIf I move away from Hong Kong will my insurance plan stay in place?
This depends on where you are moving to and if it is back to your home country or not. Each provider differs on this but majority say if you are still an expat in the country you are moving to then they will still cover you depending on if the laws of that country allow medical insurance. Your premiums are likely to change depending on the country you move to.
QDo I need to complete a medical examination before I am accepted for cover?
Medical insurance coverage does not require medical examinations. You may need to answer some medical questions relating to previous and current state of health at the application stage.
QWhat is the difference between fully medically underwritten and moratorium?
Full medical underwriting – complete a full medical questionnaire as part of application, insurer will then review this information and decide whether they need to place any medical exclusion on your plan.
Moratorium –No need to provide the insurer with any health information but you accept that any medical conditions for which you have sought medical advice in the last 5 years would be excluded from your policy. You would need to answer medical questions when making a claim.
QWhat does guaranteed renewal mean?
Guaranteed renewal means each year you can renew your policy and the insurer will not decline your renewal request. If there isn’t a guaranteed renewal feature then the insurer could decline your renewal request if you made large claims the year before.
QWhy do the insurance premiums increase each year?
This is due to two primary factors;
Your age - Each policy year as your age increases you present a larger risk to the insurers. This is because you are at higher risk of developing chronic conditions or having a serious accident.
Healthcare and Medical inflation - This is the yearly increase in the price of drugs and equipment.