The health insurance industry is in place to cover the health care costs that the general public might receive when they get treatment for accidents and sickness.
The health insurance industry is made up of broker agents, health insurance companies and insurance regulators.
All these stakeholders will work in cooperation to ensure that people in Hong Kong can receive a value for money and quality health insurance service when they need to make claims for their medical needs.
There are many health insurance companies within the industry and in Hong Kong they tend to focus on providing a stream lined service to Hong Kong people.
In general, Hong Kong expats will use an international insurance company rather than one of the Hong Kong insurance companies. This is because global medical insurance companies provide a more tailored service for HK expats.
The international private medical insurance coverage that expats often go for will see better levels of cover than on an ordinary Hong Kong health insurance and will also have an international feel to the plans meaning that expats can receive their treatment in other countries around the World.
Expat health insurance companies are not all based in Hong Kong. Although the likes of Zurich Medical Insurance and GlobalHealth are headquartered in Hong Kong, many of the assurance companies will have overseas head offices.
Overseas International Private Medical Insurance Companies include the likes of DKV Globality, Bupa International, ALC Health, InterGlobal, William Russell and GMC which come from Europe whereas Cigna International and Aetna Global Benefits (formerly Good Health) are from the United States.
With so many health insurance companies, the expatriate community has a varied range of choices that they can look at when they need to arrange health care cover.
NowCompare is one of the tools that has become very popular amongst expats and within a couple of seconds and just a few clicks, expats can get a comparison of health insurance companies.