As a foreigner living and working in China, it is important to have health insurance in order to protect yourself from expensive medical bills in the event that you need to see a doctor or worst case scenario – require long terms hospitalization. There are a variety of health insurance options available in China at present, and it can be tough to choose the right one for your needs. In this article, we will discuss some tips on how to choose the best health insurance in China as an expat.
1. Know your needs and budget
Before selecting a health insurance plan, it is important to first assess your needs. What level of protection are you looking for, is it just against major medical things or you need extra things such as outpatient care or even dental and vision? Consider factors such as your age, health condition, occupation, and travel habits. Doing so will help you narrow down your options and choose a plan that best suits your situation, particularly when it comes to budgeting too. Local companies such as Pingan or Taiping will be happy to provide you with solid insurance protection for less than USD 1500 premium per annum, whereas more premium international brands like Bupa supply market with plans that can easily run you well over USD 20,000 on a year to year basis. Set your budget goal and work towards it.
2. Do your research both online and offline.
There are a number of health insurance providers in China, so it is important to do your research before selecting a plan. Compare the coverage and benefits of each plan, and make sure to read the fine print so that you are fully aware of what is covered and what is not, fine print is quite often referred as policy wording which always outlines list of exclusions – things that insurance company will not cover any under any circumstances. More expensive insurance plans typically have less things listed in those.
If you are in the country already, get help from fellow foreigners. Ask around what health insurance for expats in China do they use. If you are in similar situation such as both have families in China, working in same industry and relatively with same budget for insurance protection – it always worth to spend some time exploring what expats in your community use and see whether it can be a good fit for your medical protection as well.
3. Consider your budget
Health insurance plans in China can be expensive, so it is important to consider your budget when selecting a plan. There are a variety of plans available at different price points, so be sure to choose one that you can afford.
4. Get advice from experts
If you are still unsure about which health insurance plan to choose from, get help from some intermediaries such as financial agents or brokers. Those guys don’t work for any insurance company in particular but represent the whole market instead, so the more details requirements you can get to them – the more tailored proposals they can prepare for you.
