Insurance

How Do Insurance Chief Medical Officers Pick Health Plans?

Author Bowtie Team

Updated on 2025-07-22

Disclaimer: This article is translated with the assistance of AI.

Many insurance Chief Medical Officers started as doctors, with insider knowledge of healthcare and treatments. Curious how they choose their own coverage? We chatted with Bowtie’s CMO, Dr. Jacky Lio, for his top tips on selecting medical insurance.

Why Doctors Still Need Medical Insurance Despite High Salaries?

No one knows when illness or injury might strike, which is why buying medical insurance helps cover unexpected treatment costs. Sometimes, these costs are urgent and can amount to millions of dollars . Even though doctors earn above-average salaries, millions in expenses are still a huge burden, and you might not have enough liquidity to pay them. That’s where reimbursement-based medical insurance provides financial relief.

Medical costs depend on various factors. Generally, situations that lead to higher expenses include:

Complex surgeries
Advanced or new cancer treatments, such as immunotherapy , CAR-T therapy
Treatment at certain higher-priced private hospitals
Choosing renowned surgeons

Choose VHIS Over Traditional Medical Insurance

On the market, there are traditional medical insurances and VHIS . VHIS products are certified by the Health Bureau and must meet several standard product features , including standardized policy terms and conditions, guaranteed renewal up to age 100, and more, to enhance consumer protection. Personally, I prioritize VHIS because it’s regulated by the Health Bureau and offers high transparency.

Additionally, VHIS Flexi plans on the market offer diverse options, with varying prices and coverage to meet different consumer needs . For example, many premium VHIS products provide full reimbursement, meaning most medical expense items have no sub-limits, which is convenient for policyholders.

Higher Ward Level Means Better Treatment? Wrong!

Whether you choose a standard ward, semi-private room, or private room , the treatment won’t change based on the ward choice . The key factor in selecting a ward is privacy, depending on the patient’s personal needs during hospitalization.

Valuable Tip 1: Check Coverage Regions

Coverage region is a crucial factor to consider, as most people travel, and local public healthcare might not offer sufficient protection. In fact, medical services vary greatly across regions. If you’re traveling to an area with limited medical resources, local private facilities could provide better care.

Is Relying Solely on Travel Insurance Enough?

While travel insurance offers medical coverage, its compensation limits vary significantly . According to Consumer Council comparison , the limits for 26 products range from HK$100,000 to HK$1.2 million, a difference of 11 times. If medical expenses exceed the travel insurance limit, you’ll have to foot the bill yourself. So, if you have a medical insurance*, you can use it to share the costs and reduce your out-of-pocket expenses.

^{* Different medical insurances offer varying coverage regions; consumers should review the terms and conditions before purchasing and claiming.}

Valuable Tip 2: Global Emergency Support Check

Global emergency support services are vital during travel. If you face health issues on your trip and can’t get adequate local medical care, you might need emergency evacuation back to Hong Kong. However, the cost of evacuating a patient back to Hong Kong is extremely high . That’s why I value this feature a lot. If you travel frequently, you should pay attention to it too.

All Bowtie VHIS plans, including Standard, Flexi (Regular/Plus), and Bowtie Pink (Semi-Private/Private), automatically provide policyholders with global emergency support from our partner – Emergency Assistance Hong Kong Limited (EAHK). If you’re overseas for business or leisure and encounter an emergency, simply call +852 2863 5767 to reach the 24-hour emergency assistance center, provide the following details, and get help.

Insured person’s name
Insured person’s ID or passport number
Policy number
Your current location and local contact number

⚡Bowtie Pink Blog Promo!

Tired of sky-high private hospital bills but hesitant about purchasing VHIS? Bowtie Pink provides full coverage*, with long-term premiums are substantially lower than market rates^.

For a limited time, use the exclusive Bowtie Blog promo code【BLOGENGINSURE】to get an impressive 70% in first year’s premium and secure top-tier health protection at an unbeatable price!

^{*Full coverage shall mean no itemized benefit sub-limits, and applies to designated benefit items only. The benefit payable shall be subject to the remaining deductible (if applicable), annual benefit limit, lifetime benefit limit and other limitations such as reasonable and customary charges, a pre-existing condition, “List of Designated Hospitals in Mainland China” and receiving medical treatment in the United States. For detailed terms and conditions, product risks, and exclusions, please refer to the relevant product website and policy.}
^{^For example, with Bowtie Pink (Ward) and the deductible option HK$80,000, the monthly premium for a 30-year-old non-smoker is HK$197. The premium comparison above is based on similar medical insurance plans with the ward level (data source on 27, July 2023), HK$50,000 to HK$80,000 deductibles, for a 30-year-old non-smoker. Different medical insurance plans have different coverage and benefit limits. For details, please refer to the relevant insurance policy and its terms and conditions.}

Author

Bowtie Team

The Bowtie Life Insurance Company Limited is an authorized life insurance company and Hong Kong’s very first virtual insurer approved. Through the use of modern technology and medical expertise, Bowtie offers an agent-free, commission-free and more convenient online platform for customers to quote, apply and claim for Voluntary Health Insurance Scheme (VHIS) anytime anywhere. Bowtie is ranked first in the direct channel sales throughout 2021. Stay up to date at www.bowtie.com.hk