Group Medical Insurance

【4 key upgrades for Bowtie's corporate medical insurance】Product that move with the times, co-created by Bowtie and customers

In order to continuously improve service quality and provide products that keep pace with the times, Bowtie reviews user experience and listens to customer's suggestions from time to time, which resulted in timely product upgrades. We deeply understand the importance of corporate medical insurance for employees, and have been thinking about how to upgrade their coverage without increasing the financial burden on corporate customers. Therefore, we were finally able to launch the four key upgrades before 2023.
Author Bowtie Team
Date 2022-12-22
Updated on 2023-01-19
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What are the 4 key upgrades?Would the upgrade come along with premium adjustment?Corporate medical insurance caters to employee needs

What are the 4 key upgrades?

Enhanced Inpatient and Day Case Procedure benefits – include psychiatric treatment

  • Psychiatric treatment (requires written referral by a registered medical practitioner) is covered up to a limit of 80% of eligible charges. Due to the pandemic,  all walks of life have been hugely affected, employees are therefore under great pressure. However, psychiatric treatment has always been an excluded item of insurance, we hope that this upgrade can take good care of the physical and mental health of employees for our customers.

Uplifted maximum insurable age of Members / Spouse to 75

  • Uplifted maximum insurable age of Members / Spouse from 65 to 75 (depending on individual cases, 70 – 75 year-old insured might require separate review). We’ve listened to our customer feedback that some employees or their spouses are unable to enjoy the company’s medical insurance due to age limitation. In view of this, we decided to further expand the scope of insurance and become the solid backing for employees and their spouses, enabling them to enjoy life without any worries.

Relaxed children of the enrolled members to the age of 25

  • Relaxed children of the enrolled members from the age of 18 to 25 (Children of the enrolled members between the age of 18 and 25 must be a full-time student with valid proof provided). We understand that employees are always worried about their children, hope that through this initiative, we can reduce the burden on employees for our customers as well as protecting the future pillars of Hong Kong.

Added waiting period for the  “Pre-existing Condition(s)” exclusion

  • Added a one-year waiting period for existing Bowtie corporate medical insurance policyholders – If the Insured Person has been insured under this Plan continuously for one year, Pre-existing Conditions will be covered. If you are covered under another group medical insurance packaged plan of another insurance company immediately before the Policy Issuance Date or the Policy Effective Date, whichever is the earlier, there will be no waiting period. We believe that even if the insured has relevant medical records, they are entitled to enjoy the company’s medical benefits. We hope that this upgrade will allow more employees to benefit from group medical insurance.

Would the upgrade come along with premium adjustment?

Despite various factors, society’s demand for medical care and expenditure have increased significantly for the past 2 years, we insist on not increasing the premium! There are push factors during the period, such as medical inflation and cost increases, hence, the average premium for corporate medical insurance in the market had increased 5.3% to 5.6%^; but 6 plans in 2 series we provide, have not increased premiums at all. In addition, the prices reflected on the Bowtie’s website are clearly marked and there are no hidden charges – we will continue to upgrade our product in the future in order to enable our customers and their employees enjoy medical coverage that keeps pace with the times at affordable prices!

Corporate medical insurance caters to employee needs

Insuring corporate medical insurance cannot only provide medical coverage for yourself and your employees, but also make everyone feel more at ease at work which helps to increase work morale.Premium of Bowtie’s corporate medical insurance, Basic Silver from Basic Care Series, is as low as $98 per month, which is applicable to companies with 3 or more employees. Everyone will be able to enjoy various coverage, such as outpatient, dental, hospitalization, and even body check! Apart from medical insurance products, we also take care of the wellness of employees in all aspects, including providing health benefits such as the BowtieVision Eyecare Plan and physical and mental health activities for employees. Learn more now, or leave the details below to contact our corporate medical insurance specialists!

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