Over 70 pc of HK employees rely on employer-provided group medical insurance: FWD survey

A survey by FWD Hong Kong found 71 percent of Hong Kong employees stated that they primarily rely on employer-provided group medical insurance, but only 29 percent believe it is sufficient to cover actual medical expenses. 

The survey of over 1,100 working individuals in Hong Kong aged between 25 and 65 was conducted from June to July this year. 

Only one in six individuals have purchased additional top-up protection plans for their group medical insurance to fill the perceived gap. 64 percent of respondents would prioritise using their company group medical insurance when making medical claims.  

The survey further revealed that 74 percent of respondents worry about bearing high medical expenses alone after retirement, reflecting a general concern among the working population regarding the burden of medical expenses after leaving employment or retiring. 

More than two-thirds are concerned that applying for insurance at an older age will involve complicated underwriting procedures or even result in being declined. 

“As healthcare costs rise and career stages evolve, they may face significant protection gaps due to career transitions, leaving employment, or retirement,” said Kelvin Yu Pak-kin, chief proposition and healthcare officer of FWD Hong Kong and Macau.

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