On the 15th, the Secretary for Food and Health, Dr. Ko Wing-man, announced the commencement of a public consultation for the voluntary health insurance plan, which will last for three months, hoping for swift legislative implementation of the plan.
At a press conference presenting the consultation document, Dr. Ko indicated that the proposed "standard plan" must meet 12 "minimum requirements". According to estimates from 2012, the average standard premium is about HKD 3,600 per year, approximately 9% higher than the average individual inpatient insurance premium in the market.
He stated that the government will provide tax deductions to encourage public participation in the plan, suggesting that if the tax deduction is close to the price difference, it should appeal to the middle class. Under the new plan, individuals who are currently refused insurance, renewal, or charged additional premiums due to high risk will be provided coverage, allowing them to purchase the "minimum requirements" of inpatient insurance.
The government will establish a high-risk pool, funded by public finances, to bear all high-risk insurance plans. To reduce risk, it is suggested to limit the insurance period to one year, with coverage from the second year only extended to individuals aged 40 or below. The high-risk pool is expected to operate for 25 years, with a total cost of about HKD 4.3 billion.
Dr. Ko pointed out that the population is aging rapidly, with public healthcare service expenditures increasing by over 60% in the past seven years, reaching HKD 52 billion this year, accounting for about 17% of government recurrent expenditure. He believes this plan will help encourage the public to utilize private medical services, thereby alleviating the pressure on the public system and reducing waiting times.
He emphasized that even with the implementation of the voluntary health insurance plan, authorities will continue to develop the public hospital system, reinforcing the public and private healthcare systems to operate concurrently.
