What is the health insurance penetration rate in Hong Kong compared to GBA?

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Hong Kong Exhibits Lower Health Insurance Penetration Rates Compared to the Greater Bay Area

In Hong Kong, the uptake of medical and critical illness insurance remains notably lower when contrasted with other regions within the Greater Bay Area (GBA). A survey conducted in September 2022, which included 500 respondents from Hong Kong as part of a larger 2,410 GBA residents sample, found that only 56% of Hong Kongers possess medical insurance plans and 49% have critical illness insurance. These figures stand in contrast to Macau, where 71% reported having medical insurance and 46% critical illness insurance, and the Mainland, with significantly higher rates of 80% for medical insurance and 70% for critical illness insurance.
Limited Health Insurance Coverage in Hong Kong

Despite a strong perceived importance of healthcare protection, with 95% of Hong Kong respondents deeming it "rather important" or "very important," the actual ownership of relevant insurance policies is considerably lower. The penetration rates for medical insurance, including those under the Voluntary Health Insurance Scheme (VHIS), are at 56%, while critical illness insurance coverage stands at 49%. These statistics highlight a gap between the recognized need for health protection and its practical implementation through insurance in Hong Kong.
Lower Spending on Health Insurance in Hong Kong

Further underscoring the disparity, Hong Kong residents allocate a smaller proportion of their household income towards health insurance premiums compared to their Macau counterparts. The survey indicated that 70% of Hongkongers spend no more than 20% of their annual household income on medical or critical illness insurance. This contrasts with Macau, where approximately half of the respondents reported allocating over 20% of their income to such insurance protections, suggesting a difference in financial prioritization for health coverage.
Apathy Towards Proactive Health Protection Planning

The survey results also point to a degree of passivity among Hong Kong respondents regarding healthcare protection planning. While anticipating substantial increases in future medical expenses, with around 76% of respondents in Hong Kong citing a "very heavy" or "rather heavy" financial burden, a significant portion (37%) indicated they might consider forgoing the best medical treatment options. This suggests a potential over-reliance on savings or reduced spending in other areas, rather than a proactive adoption of comprehensive insurance solutions.

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What is the health insurance penetration rate in Hong Kong compared to GBA?

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