CCW Global Insurance Brokers can provide comprehensive Hong Kong health insurance options which include coverage for Pre-existing medical conditions.
Pre-existing conditions are one of the biggest issues in relation to health insurance, both in Hong Kong and around the world. On this page we will help you to understand exactly what a pre-existing medical condition is, and how Hong Kong medical insurance plans will normally provide coverage for conditions which are considered pre-existing.
Insurance is normally defined as the equitable transfer of risk from one party to another in exchange for a predetermined fee, also known as a premium.
In the case of health insurance the risk which is being transferred is the cost of medical treatment for illnesses or accidents. Simply put, in the event that you suffer from an illness or disease a Hong Kong medical insurance plan will cover the costs associated with the treatment of that illness.
However, in the definition above there is one key word which should be understood, and that word is Risk. A risk is something which may happen, but has not yet occurred. This means that it is only potential, and as yet unrealized, medical conditions which are able to receive coverage under a Hong Kong health insurance and Global health insurance policy.
A Pre-existing medical condition is typically defined as any medical condition or illness which displayed symptoms, required treatment, or of which the policyholder was aware, prior to the commencement of a Hong Kong Health Insurance plan.
Following on from the definition of insurance illustrated above it can be seen that medical conditions which the policyholder is suffering from prior to obtaining health insurance coverage would not be a risk – the condition already exists and will consequently be a fact. As insurance is designed to cover risks, that is to say medical conditions which may develop but do not yet exist, obtaining protection for a fact can be a challenge.
Many International and Hong Kong insurance providers will normally exclude coverage for pre-existing medical conditions under their plans because they are not a risk. However, this is not true of all medical insurance plans in Hong Kong and CCW can actually provide a number of options for coverage of a pre-existing medical condition under a Hong Kong health insurance policy.
The coverage, or lack thereof, offered in relation to pre-existing medical conditions will vary depending on the Hong Kong health insurance plan you purchase and the insurance company you purchase it from. However, there are a number of ways in which pre-existing medical conditions are normally handled by a vast majority of insurance companies in Hong Kong.
The first, and most common, way of handling a pre-existing medical condition under a Hong Kong health insurance plan is to simply exclude the condition from coverage.
If a pre-existing condition is excluded from coverage this means that you will not be able to receive or claim for treatment of the condition under your policy. Additionally, the insurer may also exclude conditions related to that which was pre-existing under the plan.
Because this is the main way in which pre-existing medical conditions will be handled by both Hong Kong and Global health insurance plans it is important that you consider purchasing a policy before you have developed such a condition.
A Moratorium, also known as a Waiting Period, is the second way in which many insurance companies will handle a pre-existing medical condition.
Essentially, if your pre-existing condition requires no treatment, displays no symptoms, and receives no medication for a specific length of time then it may be considered for coverage under the Hong Kong health insurance plan.
Typically the moratorium, or Waiting Period for pre-existing condition coverage (if this is offered under your policy) will last 24 months from the start of the plan. In the event that you are “free” from the condition after that time period then coverage may be offered at your next policy renewal.
A less common way for coverage of pre-existing medical conditions under a Hong Kong medical insurance policy is to offer coverage in exchange for a premium loading. This is basically coverage in exchange for you paying a higher overall policy premium.
Coverage of a pre-existing condition in exchange for a higher premium is not universal on all Hong Kong health insurance plans and will usually be offered on a case-by-case basis dependent on the condition in question.
The easiest way to obtain coverage of a pre-existing medical condition is through a Medical History Disregarded, or MHD, benefit.
A Medical History Disregarded benefit is normally only available under a Group Medical Insurance plan and will usually be offered to groups with 10 or more members. However, CCW can provide MHD insurance coverage in Hong Kong to groups with as few as 5 members!
Medical History Disregarded will allow for the coverage of all pre-existing conditions present within the group, and will allow for coverage of policy benefits which would normally be attached to a waiting period, including Dental and Maternity.
If you have a pre-existing medical condition and would like to purchase a Hong Kong health insurance plan which is able to provide coverage for that condition please complete the short form at the top of this page.
One of our expert Hong Kong health insurance brokers will contact you with a detailed quotation comparison illustrating all the options best suited to your specific situation.
You can also Contact Us to learn more about the pre-existing condition coverage options we offer and how these options may impact you.