Chongqing Yu Hui Bao Launches Consortium Model with 16 Insurers to Advance Inclusive Health Coverage

"Chongqing Yuhuibao," a supplementary medical insurance plan exclusive to residents of Chongqing, has enrolled over 1.2 million participants since its launch on November 6, 2020. To further expand the coverage of "Chongqing Yuhuibao," 16 insurance companies, including Ancheng Property & Casualty Insurance, China Life, CPIC Property & Casualty Insurance, and Ping An Pension, formed a coinsurance consortium on November 27 to better serve the citizens of Chongqing.

Figure: Signing Ceremony for the Chongqing Yuhuibao Co-insurance Consortium

“Chongqing Yuhuibao” closely aligns with the basic medical insurance scheme and serves as a key component in Chongqing’s efforts to build a multi-tiered healthcare security system. Open to all enrollees of Chongqing’s basic medical insurance, regardless of age, occupation, or household registration status, the plan requires an annual premium of only RMB 69. It provides up to RMB 2 million in coverage, including up to RMB 1 million for inpatient care, coverage for special outpatient services, and up to RMB 1 million for specialized drugs used in the treatment of malignant tumors. Additionally, Shu Health, the health service platform, offers six health management services to “Chongqing Yuhuibao” policyholders, such as intelligent health consultations, disease risk assessments, and delivery of medications for chronic diseases.

Effective immediately, all participants in Chongqing’s Basic Medical Insurance can enroll online by following the “Chongqing Yuhuibao” WeChat official account. The enrollment period ends on December 31, 2020, with coverage taking effect from January 1, 2021.

Follow the “Chongqing Yuhuibao” official account to enroll immediately

“Chongqing Yuhuibao” has been widely recognized and enthusiastically subscribed to by Chongqing residents since its launch. It is reported that, in order to fully leverage the strengths of various insurance companies, effectively ensure the service and support for “Chongqing Yuhuibao,” expand its coverage, and enhance its service capabilities, the following insurers have reached a consensus and actively participated in the “Chongqing Yuhuibao” project in accordance with industry-wide collaborative promotion requirements: Ancheng Property & Casualty Insurance, China Life Insurance, CPIC Property & Casualty Insurance, Ping An Pension Insurance, Taikang Pension Insurance, Three Gorges Life Insurance, Sunshine Property & Casualty Insurance, Asia-Pacific Property & Casualty Insurance, CPIC Life Insurance, Ping An Health Insurance, AXA Tianping Insurance, Jintai Insurance, China Life Property & Casualty Insurance, Sunshine Life Insurance, Everbright Sun Life Insurance, and Hua’an Property & Casualty Insurance. These companies are working together to provide higher-quality services to the residents of Chongqing.

Tang Lin, Executive Vice President of the Chongqing Insurance Industry Association, stated, “Chongqing Yuhuibao represents a significant initiative by the insurance industry to implement policies aimed at enhancing insurance services for public welfare. It is a concrete action aligning the development of the insurance sector with the multi-tiered medical security needs of residents, demonstrating the inclusive nature of insurance and collaborative industry efforts. The formation of this co-insurance consortium has been facilitated by strong regulatory promotion and enthusiastic participation from various companies. This will help promote industry development, enable broader and more convenient access to insurance services for residents across the city, and ensure that policyholders gain a substantial sense of benefit, truly achieving both widespread coverage and affordability.”

Figure: Tang Lin, Executive Vice President of the Chongqing Insurance Industry Association, delivers a speech

According to Duan Yongpan, a member of the Party Committee and proposed Deputy General Manager of Ancheng Property & Casualty Insurance, the formation of the “Chongqing Yuhuibao” co-insurance consortium features three notable characteristics. First, it boasts extensive participation, making it the co-insurance consortium with the largest number of participating insurance institutions among all city-specific commercial medical insurance products currently launched nationwide in China. Second, the participants are broadly representative, encompassing national insurers, industry leaders, and small and medium-sized companies with distinctive development paths and specialized expertise. Third, the co-insurance model facilitates industry development.

Figure: Speech by Duan Yongpan, Member of the Party Committee and Proposed Deputy General Manager of Ancheng Property Insurance

Going forward, residents of Chongqing will be able to more conveniently consult and handle insurance enrollment and other related matters through the offline branches of these 16 insurance companies.

Industry insiders have pointed out that the introduction of a “co-insurance consortium” mechanism fully demonstrates the social responsibility of the entire industry, strengthens the risk prevention and control framework of Chongqing Yuhuibao, effectively expands its service scope and capabilities, and ensures its sustainable and healthy operation.

“Chongqing Yuhuibao” focuses on covering high-cost medical expenses and serves as a supplement to the existing medical security system. According to VCBeat’s information from the underwriter, as of November 25, 2020, the number of enrollees in Chongqing Yuhuibao had exceeded 1.2 million. The youngest enrollee was just one month old, while the oldest was 105 years old, demonstrating its universal inclusiveness.

Nearly half of the insured individuals not only have coverage for themselves but also secure insurance for their family members, indicating a pronounced trend of multiple family members being insured simultaneously. This also reflects the strong awareness of family protection among Chongqing residents.

As Huimin Insurance has relaxed health eligibility requirements for enrollees, managing the disease risks associated with this population has become a critical component of product and service offerings.

According to the "Chongqing 2019 Annual Report on Residents' Health Status" released by the Chongqing Municipal Health Commission, the top ten cancers in Chongqing in 2019 were, in order: lung cancer, colorectal and anal cancer, liver cancer, esophageal cancer, breast cancer, gastric cancer, thyroid cancer, cervical cancer, prostate cancer, and lymphoma. In addition, chronic diseases such as hypertension, dyslipidemia, and diabetes have also become significant factors affecting the health status of Chongqing residents.

Lv Furong, Vice President of the First Affiliated Hospital of Chongqing Medical University, stated, “Health management has become a key component in the development and innovation of health insurance. As the focus of health management shifts upstream, insurance companies are actively intervening in customers’ risk management processes by incorporating more health promotion, chronic disease management, and disease care measures into their health insurance services. This approach creates a closed-loop health management system encompassing prevention, intervention, medical treatment, and rehabilitation, guiding health insurance from post-claim compensation toward pre-event prevention. By front-loading and comprehensively managing customer health risks throughout the entire process, insurers are exploring a ‘preventive healthcare’ business model to fundamentally reduce claims risks.”

Notably, Chongqing Yuhuibao covers out-of-pocket expenses for 15 specialty drugs targeting high-incidence cancers such as lung cancer, liver cancer, breast cancer, and lymphoma. It also provides six health management services, including intelligent health consultations, disease risk assessments, and delivery of medications for chronic diseases. By integrating the concept of health prevention into insurance coverage, it facilitates early detection and treatment of diseases, and helps prevent complications through measures such as chronic disease management, health monitoring, and follow-up tracking.

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