The Hong Kong Federation of Insurers supports Guaranteed Acceptance fully funded by a High Risk Pool under the Voluntary Health Insurance Scheme


The Hong Kong Federation of Insurers (HKFI) today (Friday, 9 December 2016) reaffirms its support of the provision of Guaranteed Acceptance under Voluntary Health Insurance Scheme (VHIS) with the following in place:

  • The setting up of a High Risk Pool (HRP) to be fully funded by the Government.

  • The Administration to commit the required funding upfront to match the liability of policyholders joining the HRP for life. Year by year funding (i.e., pay as you go) is neither feasible nor sustainable.

  • The Food and Health Bureau to build a viable business model for HRP to ensure its sustainability and come up with practical and transparent guidelines for all stakeholders, including consumers.

  • Participating insurers to assume the role of administering the HRP in accordance with the parameters and rules set by the Administration.

These points have been clearly and repeatedly conveyed to the Food and Health Bureau since the subject was raised for discussion in 2013. In forming this position, the industry is guided by considerations of what is good for the insuring public and the need to ensure the long-term sustainability of the Schemes.

“The insurance industry stands ready to incorporate Guaranteed Acceptance in future VHIS products as long as the Government ensures that there will be sufficient funding for the lifetime of those customers allocated to that pool,” said Mr David Alexander, Chairman of HKFI's Task Force on Health Care Reform. “Meanwhile, our industry specialists are working on how best to implement the relevant requirements under VHIS including, for example, standardization of policy wordings."