The Hong Kong Federation of Insurers (HKFI) today (Thursday, 20 November 2014) announces the medical claims statistics for 2012.

Conducted by HKFI's Medical Insurance Association, the survey collects business data from 19 major underwriters in the medical insurance market, representing over 80% of the market share.

“Hong Kong's private group and individual medical insurance plans are providing various forms of protection to more than four million people in Hong Kong,” said Mr Terry Tsang, Chairman of HKFI's Medical Insurance Association.

The 2012 statistic highlights are as follows:About 90% of reimbursed claim cases took place in private hospitals or private day case centres. This indicates that the majority of the medical insurance policyholders used private medical services and directly benefited from private insurance coverage.Medical cost is inflated due to increasing utilisation and medical progress, e.g. advanced technology.Albeit the medical inflation in the recent years, the reimbursement ratio for claims remains stable at close to 80% on average. Insurance paid an average $80 for every $100 incurred for hospital admission expenses, and $83 for every $100 of day surgery costs. It indicates that insureds are financially adequately protected by medical insurance, which meets the expectation of the policyholders.Based on the historical figures, it is estimated that medical cost inflation will be in the range of 8 to 10%.“We are pleased to note that majority of the insured members fully utilized their insurance cover by using private medical services,” said Ms Elaine Chan, Deputy Chairman of HKFI’s Task Force on Health Care Reform. “Insurance is a very dynamic business which evolves to meet the changing needs of different users. It is thus important to keep this unique feature in our market to provide sufficient choice.”
Medical Claims Statistics Booklet 2012Click here to view more photos