Home Emergency Medical Insurance Targets Three Major Infectious Diseases: Cathay Life, Fubon Life, and South China Life Apply for Trial

In response to the Ministry of Health and Welfare's promotion of the "Home Emergency Medical Care Trial Plan," the Financial Supervisory Commission has confirmed that Cathay Life, Fubon Life, and South China Life, three life insurance companies, have submitted applications for the trial plan. However, the current products are only designed to focus on three types of infectious diseases. An official from the Insurance Bureau explained that the case is still under review, and even if it is approved later, the companies still need to develop insurance products, build systems, and train business personnel. Therefore, the actual market launch schedule will depend on the preparation of each insurance company.

Regarding the public's concern about the coverage and scope of the insurance policy, Vice Minister of the Insurance Bureau Chen Qingyuan explained that currently, the Central Health Insurance Bureau of the Ministry of Health and Welfare only provides statistical data on the incidence of three types of acute infectious diseases: "pneumonia," "urinary tract infections," and "soft tissue infections." Life insurance companies must rely on the true experience data provided by the National Health Insurance Administration to actuarially calculate and design reasonable and fair insurance premiums based on stable principles. Therefore, the current product planning is all designed around these three infectious diseases.

In addition, regarding the reflection of some patient groups that there is also a need for "home medical care" for cancer or psychosomatic diseases, Chen Qingyuan pointed out that the premise of insurance product development is that it must have sufficient statistical data support. If in the future, it is necessary to expand the inclusion of other diseases such as cancer, it still depends on whether the National Health Insurance Administration can provide the corresponding statistical data, and it is necessary to coordinate and cooperate with the National Health Insurance Administration and insurance companies. Currently, the Financial Supervisory Commission has not received any new information.

Currently, Cathay Life, Fubon Life, and South China Life have submitted applications for the trial plan. After approval, insurance companies still need to develop insurance products, build systems, and train business personnel, and complete pre-sales operations. Therefore, the formal launch schedule of the insurance policy will depend on the planning of the insurance companies.

If the review by the Financial Supervisory Commission goes smoothly, some companies estimate that the "Home Emergency Medical Care" innovative insurance policy has the opportunity to officially debut as early as the end of this year, creating a new model for domestic commercial insurance to cooperate with home medical care.