And Beyond Dr. Yi Mien Koh Managing Director Health & Employee - - PowerPoint PPT Presentation

▶

Jan 06, 2024 484 likes •572 views

Voluntary Health Insurance Scheme And Beyond Dr. Yi Mien Koh Managing Director Health & Employee Benefits AXA Hong Kong November 28, 2018 1 HK Is Rapidly Ageing Rapidly ageing population The number of people aged 65 or above will

SLIDE 1

Dr. Yi Mien Koh

Managing Director Health & Employee Benefits AXA Hong Kong November 28, 2018

Voluntary Health Insurance Scheme And Beyond

SLIDE 2

HK Is Rapidly Ageing

Rapidly ageing population

2007 2033

Population Projections, 2007 to 2033*

The number of people aged 65 or above will increase from 11.7% of total population in 2003 to 27% in 2033.

*Census and Statistics Department

SLIDE 3

Ageing Population Demands More Health Care

Increasing health expenditures due to aging population

Operating expenditure of Hospital Authority* Projected growth rate of public health expenditure due to net medical inflation, population growth and aging effect* *Food and Health Bureau, Hospital Authority

SLIDE 4

Private Insurance Helps Finance Health Care

While Government schemes increased from HK$36bn to HK$65bn, their share decreased due to increasing importance of private insurance

Individual Health Insurance penetration and hospitalization in elderly population, 2009-2016*

Percentage share of major components 2006-2007 2014-2015 Overall Expenditure HK$ 71.9 billion HK$ 131.8 billion Government Schemes 50.7% 49.3% Out-of-pocket spending from households 35.3% 35.7% Individual health insurance schemes 5.9% 7.9% Group-based schemes 5.4% 6.6%

*Food and Health Bureau.

SLIDE 5

Individual Health Insurance Has Grown in Recent Years

The penetration rate has increased from 20% in 2006 to 34% in 2016

Local population covered by health insurance policies, 2006-2016*

2006 2016

*Food and Health Bureau. HKSAR

SLIDE 6

Private Insurance Plays A Bigger Role in Elderly Care

Individual health policies help divert elderly patients to private hospitals

Current health expenditure in Hong Kong and its major components by percentage distribution, 2006-2007 and 2014-2015*

Elderly people aged 65 and above 2009 2016 Penetration (% insured) 4.9% 10.4% Hospitalization (% treated in private hospitals) 35% 55%

*Food and Health Bureau.

SLIDE 7

Hong Kong Remains A Robust Private Insurance Market

Consistent market growth for both individual and group medical insurance

Total premium and per capita premium of the health insurance market in Hong Kong, 2006-2016* *Food and Health Bureau.

3.6 10.3 3.3 8.8