VHIS
Premiums Comparison: VHIS Standard Plans from six insurers
Author Bowtie Team
Reviewed By bowtie-team-en (Bowtie Team (English))
Date 2021-01-07
Updated on 2021-08-11
- As of April 1, 2021,32 VHIS Standard Plans and 263 Flexi Plans (including different currencies and benefit levels) have launched under the Voluntary Health Insurance Scheme(VHIS).
- Bowtie lowered its basic premium since April 1, 2020. VHIS Standard Plan premium for a 25 year old non-smoking male is only $109. Check out Bowtie’s latest premium rates.
- According to information released by Food and Health Bureau in April 2019, VHIS Standard Plans coverage across all insurance companies is basically the same with an average annual premium of $4,000. Hence, consumers can easily compare the premiums.
- Design of the Flexi Plans by different insurers vary and hence, it is more difficult to compare the premiums directly.
- Similar to general medical insurance, the premium of VHIS is determined by the insured’s age, smoking habits, and health condition, then a premium levy is added at the end.
- Insurers usually take Medical inflation, health condition of the risk pool, and the age of the insured into consideration to determine the premium increase at time of renewal.
For easy reference, the Bowtie Team has put together a premium table of the approved VHIS Standard Plans from six insurance companies, categorized by gender and age so you can easily compare the premiums all in one place.
VHIS Standard Plan Premium Comparison for Male
| Annual Premium for Male^ | ||||||||
| Age | Bowtie | Insurer A | Insurer B | Insurer C+ | Insurer D^ | Insurer E | Average Premium of the 5 Insurers | Bowtie’s Premium is lower by how much?# |
| 20 | $1,128👍 | $1,734 | $1,585 | $1,913 | $1,410 | $1,850 | $1,698 | $570 |
| 25 | $1,308👍 | $1,830 | $1,689 | $2,088 | $1,699 | $2,063 | $1,873 | $565 |
| 30 | $1,488👍 | $1,990 | $1,996 | $2,314 | $1,832 | $2,414 | $2,109 | $621 |
| 35 | $1,764👍 | $2,176 | $2,270 | $2,731 | $2,078 | $3,260 | $2,503 | $739 |
| 40 | $2,076👍 | $2,534 | $2,852 | $3,254 | $2,409 | $4,103 | $3,030 | $954 |
| 45 | $2,652👍 | $3,462 | $3,586 | $4,029 | $2,901 | $5,124 | $3,820 | $1,168 |
| 50 | $3,252👍 | $4,115 | $4,279 | $5,021 | $3,698 | $6,434 | $4,709 | $1,457 |
| 55 | $4,104👍 | $5,587 | $5,558 | $6,426 | $4,779 | $8,133 | $6,096 | $1,992 |
| 60 | $5,316👍 | $7,251 | $7,511 | $8,481 | $5,978 | $10,250 | $7,894 | $2,578 |
- The listed premiums are based on VHIS Standard Plan for non-smokers, updated as of April 1, 2021 for reference only. For accurate quotations and product details, please check with the individual insurance companies.
- *Premiums of add-on riders are not included
- +Insurer C's VHIS Standard Plan defines age as the insured’s next birthday
- ^Insurer D's VHIS Standard Plan defines age as the age nearest birthday
- #Bowtie’s premium is compared to the average premium of the 5 largest insurers
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VHIS Standard Plan Premium Comparison for Female
| Annual Premium for Female^ | ||||||||
| Age | Bowtie | Insurer A | Insurer B | Insurer C+ | Insurer D^ | Insurer E | Average Premium of the 5 Insurers | Bowtie’s Premium is lower by how much?# |
| 20 | $1,320👍 | $1,965 | $1,815 | $2,017 | $1,581 | $1,850 | $1,846 | $526 |
| 25 | $1,560👍 | $2,522 | $1,948 | $2,490 | $1,973 | $2,063 | $2,068 | $508 |
| 30 | $1,896👍 | $3,072 | $2,080 | $3,054 | $2,293 | $2,414 | $2,583 | $687 |
| 35 | $2,244👍 | $3,462 | $2,371 | $3,646 | $2,840 | $3,260 | $3,116 | $872 |
| 40 | $2,544👍 | $3,962 | $2,901 | $4,357 | $3,402 | $4,103 | $3,745 | $1,201 |
| 45 | $3,168👍 | $5,299 | $3,681 | $5,226 | $4,076 | $5,124 | $4,681 | $1,513 |
| 50 | $3,864👍 | $5,427 | $4,741 | $6,213 | $4,613 | $6,434 | $5,486 | $1,622 |
| 55 | $4,272👍 | $6,054 | $5,881 | $7,135 | $4,930 | $8,133 | $6,427 | $2,155 |
| 60 | $5,112👍 | $7,155 | $7,020 | $8,491 | $5,823 | $10,250 | $7,749 | $2,637 |
- The listed premiums are based on VHIS Standard Plan for non-smokers, updated as of April 1, 2021 for reference only. For accurate quotations and product details, please check with the individual insurance companies.
- *Premiums of add-on riders are not included
- +Insurer C's VHIS Standard Plan defines age as the insured’s next birthday
- ^Insurer D's VHIS Standard Plan defines age as the age nearest birthday
- #Bowtie’s premium is compared to the average premium of the 5 largest insurers
Bowtie premiums are most attractive in Hong Kong
- According to data from Food and Health Bureau, Bowtie VHIS Standard Plan premiums are the lowest for both male and female from ages 0 to 75.
- Monthly premium for a 35 year old non-smoking male is only $147, which is very attractive.
Source
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