Healthy progress on voluntary insurance

Business | Lucas Lo 17 Jan 2020

Policies taken out under the Voluntary Health Insurance Scheme, which was in full operation by April last year to strengthen benefit levels for hospital services, numbered more than 300,000 by the end of September.

That saw policies for the newly insured and for people transferring their coverage to VHIS-certified plans pick up solidly by the third quarter of 2019, the Food and Heath Bureau said.

The bureau added it was cautiously optimistic of meeting a pre-launch estimate by an independent consultant that 1 million people would purchase plans in the first two years of the scheme. There are currently 57 bureau-certified plans available, accounting for about 90 percent of the health insurance market.

Sun Life Hong Kong chief executive Fabien Jeudy VHIS buyers accounted for 80 percent of its health insurance buyers in the fourth quarter last year.

He added that the unrest has not affected its operations, with 1.4 times growth in new premiums in the third quarter last year.

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