Norman Ng, Director of Patient Advocacy and Public Affairs at Healthcare Thinkers, shared a post on LinkedIn:
“Optimizing medical financing: The role of insurance is indispensable
Insurance plays an important role as a third-party payment, and insurance can collect the funds of many policyholders, thereby sharing risks and payment effects. Taxation is certainly a process of resource redistribution, but tax income will be affected by the external economy, and self-payment has no prepayment effect.
The speaker mentioned China’s ‘four insurances and one housing fund’, namely pension insurance, medical insurance, industrial and commercial insurance, unemployment insurance, and housing public welfare fund. Four insurances and one housing fund can provide employees with protection for retirement, medical care, unemployment, and housing needs.
Hong Kong has a mature insurance market, including voluntary health insurance schemes, MPF and CSSA schemes, and making good use of various financing solutions to effectively allocate resources can achieve stable and happy results.”
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