Special Notice

In response to the latest development of the epidemic in Macau and taking into account the latest preventive measure and control guidelines and recommendations of the Macau Government, in order to reduce gathering of crowds, our Customer Service Center at Avenida Doutor Mario Soares No. 320, Finance and IT Center of Macau, 8 Andar A, will provide limited but necessary service from July 4 to 8.  Office hours will be adjusted from 10am to 4pm. For enquiries, please contact our Customer Service Hotline 2832 2622 or visit our company website https://corp.yflife.com/en/Contact-Us/. Sorry for any inconvenience caused.

FAQ

About

VHIS is an individual indemnity hospital insurance scheme implemented by the Food and Health Bureau of HKSAR to provide an additional choice of health care services to the public through hospital insurance. Participation of the scheme is voluntary. Tax deduction is eligible for consumers who purchase VHIS plans.


VHIS covers insurance products that provide hospital insurance protection of indemnity nature bought by individuals for themselves and their families. It will reimburse the actual expenses for various healthcare services.


There are two types of plans for selection under VHIS – Standard Plan and Flexi Plan. Standard Plan provides standardized basic protection according to the minimum requirements set by the Government. Flexi Plan provides enhanced protection such as better benefit limits and coverage.



TaxVantage Medical Plan is a Standard Plan while TaxVantage Plus Medical Plan and TaxVantage Prestige Medical Plan are Flexi Plans under the Voluntary Health Insurance Scheme (VHIS) implemented by the Food and Health Bureau. The coverage under the VHIS Standard Plan includes basic protection; while the Flexi Plan provides enhanced protection, e.g. higher benefit amount, extra medical coverage and a variety of product choices. Details are as follows:

TaxVantage Medical Plan

(Standard Plan)

TaxVantage Plus Medical Plan

(Flexi Plan)

TaxVantage Prestige Medical Plan

(Flexi Plan)

Guaranteed renewals for life

No lifetime benefit limit

Tax deductible

Geographical coverage

Worldwide

(psychiatric treatments: Hong Kong only)

Worldwide

(psychiatric treatments and renal dialysis treatments as a day patient: Hong Kong only)

Non-emergency treatment: Asia

Emergency treatment: Worldwide

(psychiatric treatments and room level downgrade cash benefit in Hong Kong: Hong Kong only)

Coverage of unknown pre-existing conditions

(with waiting period)

(without waiting period)

(without waiting period)

No claim premium discount

Choice of plan level

Choice of deductible

Optional extra major medical benefit

No restriction to the choice of healthcare service provider

(room level downgrade cash benefit in Hong Kong: private Hospital in Hong Kong only)

No restriction to the choice of ward class

Actual medical expenses covered and reimbursed by the plan include:

(I) Basic benefits

Hospitalization and surgery fees

Day case procedure

Pre- and post-confinement / day case procedure outpatient care

Prescribed diagnostic imaging tests

Prescribed non-surgical cancer treatments

Psychiatric treatments

(II) Enhanced benefits

Private nurse's fee

Home nursing

Hospital companion bed

Renal dialysis

Reconstructive surgery benefit

Pregnancy complications benefit

Medical appliances

Transplantation surgery expenses for Living Donor

Rehabilitation Centre and related treatment

Ancillary service

Hospice care

Emergency outpatient treatment benefit

Emergency dental benefit

(III) Other benefits

Day surgery cash benefit

Room level downgrade cash benefit in Hong Kong

Additional benefit for accident

Medical negligence benefit

Death benefit

Supplementary services / benefits (Non-tax deductible)

Optional extra services (without extra charges)

MediCare Concierge Services

Estimate of the claimable amount

Cashless Hospitalization Service

Worldwide Emergency Assistance Benefits

Optional supplementary benefits

Extra Cancer Benefit

Hospital Income Benefit

Please refer to the product brochures for further details and exclusions of the above features.


Yes. Any such change would take effect on the Policy Anniversary Date. You should raise such a request well before the Policy Anniversary Date.


If you have signed up for a Standard Plan policy, the Company will offer the Standard Plan for renewal on the Policy Anniversary Date by default. You are also allowed to choose our Flexi Plan as an additional option for renewal. However, any upgrade of benefit to Flexi Plan requires your application to go through the underwriting process.

On the other hand, if you have signed up for a Flexi Plan policy, the Company will offer the same plan level of Flexi Plan for renewal on the Policy Anniversary Date by default. If you are not willing to accept the Flexi Plan offered for renewal you are allowed to choose our Standard Plan as the fall-back renewal option. You should raise any such request well before the renewal date.


Premiums paid by a Hong Kong citizen for himself/herself and his/her specified dependant(s) for TaxVantage Prestige Medical Plan, TaxVantage Plus Medical Plan and/or TaxVantage Medical Plan on or after April 1, 2019 are qualified for a tax deduction. Premiums paid can be claimed for tax deduction up to HK$8,000 per Insured Person per year. For details of the tax deduction arrangement and illustrative examples, please refer to the website of the Food and Health Bureau at https://www.vhis.gov.hk/en/consumer_corner/tax-deduction.html and the website of the Inland Revenue Department.


No. You should claim tax deduction in respect of the premiums paid in that year of assessment.

Since you paid the qualifying premium on March 1, 2020 (i.e. in the 2019/2020 assessment year) instead of in the 2020/2021 assessment year, you may claim the tax deduction for the 2019/2020 assessment year. To be eligible for tax deduction claim under 2020/2021 tax assessment year, the premium must be paid on or after April 1, 2020.


The detailed interpretation of the VHIS qualifying premium can be found in the Inland Revenue Ordinance (Cap. 112). According to the Inland Revenue Ordinance, the net premium for VHIS in every year of tax assessment paid by the policyholder, i.e., excluding the premium for supplementary benefits, levy and premium discount, will be treated as qualifying premium. Proof of Premium Payment will then be issued for the purposes of tax deduction.

Qualified Plans for Tax Deduction

Unqualified Plan / Items

TaxVantage Prestige Medical Plan (TVPR)

Supplementary Extra Cancer Benefit (ECBV)

TaxVantage Plus Medical Plan (TVP)

Supplementary Hospital Income Benefit (HIV)

TaxVantage Medical Plan (TVM)

Levy

Premium Discount Promotion

No Claim Premium Discount


Customers may make enquiries and lodge complaints directly with us via our customer service hotline at 2533 5555, or through the following channels:

(a) Voluntary Health Insurance Scheme (VHIS), Office of Food and Health Bureau (for issues specific to the VHIS, including product availability, features of Certified Plans and compliance with the Code of Practice for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme);

(b) Insurance Authority (for issues concerning the general conduct of insurance companies and intermediaries); and

(c) Inland Revenue Department (for issues concerning claims for tax deduction).

Before a dispute is referred to a Hong Kong court, customers may use alternative means of dispute resolution, including but not limited to mediation and adjudication through the Insurance Complaints Bureau, or other means of mediation and arbitration as mutually agreed between Policy Holders and Companies.


About Migration

YF Life already conducted a one-off migration arrangement for customers from Apr 1, 2019 to Nov 30, 2020.

Individual Indemnity Hospital Insurance Plan (“IHIP”) policies effective before the implementation of the VHIS (April 1, 2019) were eligible for migration.

The following FAQ are the details of that specific migration: 



Migration was subject to underwriting factors including insurable interest, health risk, occupational risk, residential risk and lifestyle. Material facts and information on consumers for underwriting purposes include client’s family history, physical history, physical findings, occupation details, place of residence and relationship between Insured and Policy Holder or/and Beneficiary.


Upon successful migration to the VHIS Certified Plan, the existing IHIP coverage was terminated.


Any benefit exclusions and/or extra premium rate(s), if applicable, under the existing IHIP policy, were applied to the VHIS Certified Plan after migration.


For Migration from a Hospital & Surgical Plus policy to a TaxVantage Plus Medical Plan (Flexi Plan) policy, the period for which all the requirements for entitlement of No Claim Bonus have been met under the existing Hospital & Surgical Plus policy will be brought forward to the TaxVantage Plus Medical Plan policy for the purpose of calculating no claim premium discount. Any outstanding No Claim Bonus due to the termination of the Hospital & Surgical Plus policy, if any, will be forfeited according to the terms and conditions of No Claim Bonus of the Hospital & Surgical Plus policy.


VHIS Certified plans cover unknown pre-existing condition, i.e. a health condition has existed but the Insured are unaware of its existence on the effective date. Eligible expenses will be paid in accordance with the terms and conditions as listed in the policy provisions.  

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