Hong Kongers spend average $94,000 on unexpected healthcare needs, Manulife survey shows

Hong Kongers expect to spend an average of approximately HK$94,000 on unexpected healthcare needs, a Manulife survey revealed, yet only 57 percent feel prepared to cover this cost.

Notably, the survey highlighted the dual burden faced by those balancing their own retirement plans and immediate family responsibilities. Among health caregivers, 68 percent report compromises to daily activities and financial planning, while 58 percent say caregiving affects their ability to sustain their long-term independence.

Celia Ling, incoming chief marketing officer of Greater China at Manulife, said people in Hong Kong have redefined the meaning of longevity by choosing how they live – supported by good health and strong financial preparedness – rather than what they leave behind. 

The survey shows that while respondents aim to remain self-sufficient for as long as possible, 71 percent of their assets are allocated to their future needs and only 29 percent to the next generation. 91 percent of the respondents also said that being self-reliant prevents them from being a burden on their family members. In comparison, 64 percent rank freedom from being a burden on their family members as their top longevity aspiration, rising to 74 percent among those aged over 60. 

Moreover, 65 percent of the respondents believe discussions among family members about their retirement planning are beneficial, yet only 57 percent report actually having these conversations.

Jeanie Ho, head of Hong Kong and Macau retirement at Manulife, stressed the importance of investing to fund their retirement and care needs, while maintaining diversification, as the survey noted that only 52 percent rely on those investments.

The survey also highlighted that about 50 percent of respondents believe the main barriers to preventive care stem from perceived cost, and 31 percent believe that screening is not yet necessary. Manulife said these findings highlight an opportunity to make preventive care more accessible, affordable, and easier to integrate into daily life, helping people turn awareness into lifelong habits.

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