HKBN Reforms Group Medical Insurance Scheme to Offer Equal Protection to All Talents

HKBN Reforms Group Medical Insurance Scheme to Offer Equal Protection to All Talents

HONG KONG, Aug. 15, 2018 /PRNewswire/ -- HKBN Group ("HKBN" or "the Group") announced today that it will roll out a highly re-balanced medical insurance scheme, allowing the Group's Hong Kong based Talents* to enjoy uniform medical protection regardless of title or rank. This revamp re-distributes the higher tier medical welfare expenses previously limited to management personnel to non-management Talents. Under the new scheme, over 1,500 junior level and frontline Talents, which account for over 90% of HKBN's workforce in Hong Kong, will stand to benefit from enhanced medical insurance protection, whilst the top 10% management level will have the option to personally top up to their preferred levels at discounted group rates.

Believing that medical coverage is not an executive perk but a basic safety net entitlement for all Talents, HKBN has adopted a pioneering and egalitarian approach to implement company-wide equal medical protection. The new plan, which takes effect in September 2018, includes coverage for general and specialist outpatient consultations, inpatient consultations, surgical operations, Chinese medical consultations, physiotherapy and more. For junior level and frontline Talents, this new policy provides significantly improved benefits and protection. For example, the reimbursement for each general outpatient consultation will be increased by up to 76%, while that for operating theatre charges and surgeon's fee, up to 100%.

Leveraging HKBN's buying power and economies of scale, the Group has also secured discounted rates for Talents to voluntarily purchase individual medical benefit schemes, should they wish to upgrade to premium coverage for themselves or their dependents.

HKBN Co-Owner and Group COO, NiQ Lai said, "Working on the assumption that life and medical insurance are basic safety net protections, we believe all HKBNers should be treated equal, irrespective of title or rank.  This all-new medical coverage approach is another step forward in how we 'Make our Hong Kong a better place to live' and how we hope to inspire other companies to follow.''

Mr. Joseph Lee, General Manager of Sales & Distribution Division of Blue Cross (Asia-Pacific) Insurance Limited, said, "For the majority of enterprises in Hong Kong, group medical insurance plans with different tiers of benefit coverage are typically provided based on employees' grade levels and seniority. We welcome HKBN's new initiative to implement an across-the-board medical insurance scheme, offering the same level of medical benefits to all its Talents."

Click here to read the HKBN Management Committee letter to fellow Talents on the reform of group medical insurance scheme.

* The said new insurance scheme is applicable to all Hong Kong based Talents working for Hong Kong Broadband Network Limited and HKBN Enterprise Solutions Limited.

About HKBN Group

HKBN Group is Hong Kong's second largest provider of residential high speed fibre broadband service, and a fast growing enterprise solutions provider. The Group offers a wide range of telecommunications solutions for both the residential and enterprise markets, including broadband and Wi-Fi network services, cloud solutions, data connectivity, mobile and global data services, data facilities, system integration, voice communication and entertainment services. HKBN owns an extensive fibre network in Hong Kong, which covers over 2.2 million residential homes passed, representing approximately 81% of Hong Kong's total residential units, and 2,300 commercial buildings. HKBN embraces "Make our Hong Kong a Better Place to Live" as its core purpose, and takes great pride in developing its Talents into a competitive advantage. The Group is managed by over 300 Co-Owners (supervisory and management level Talents in the Group) who have invested their own savings to buy HKBN Ltd. (SEHK Stock Code: 1310) shares. HKBN Group is part of HKBN Ltd.

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