Boao Lecheng Sets New Benchmark in Health Industry with Launch of Global Special Drug Insurance to Address Reimbursement Challenges for Hainan Residents
On August 2, the media launch event for the Hainan Free Trade Port Boao Lecheng Global Special Drug Insurance and the inauguration ceremony of the “Lecheng One Health” Insurance Summit were grandly held in the Boao Lecheng Pilot Zone in Hainan. The event was hosted by the Administration Bureau of Boao Lecheng International Medical Tourism Pilot Zone in Hainan, under the joint guidance of the Hainan Provincial Health Commission, the Hainan Bureau of the China Banking and Insurance Regulatory Commission (CBIRC), the Hainan Provincial Healthcare Security Administration, the Hainan Provincial Drug Administration, and the Medical Products Supervision and Administration Bureau of Boao Lecheng International Medical Tourism Pilot Zone in Hainan. It was jointly organized by China Life Property & Casualty Insurance Company Limited, People’s Insurance Company of China Property and Casualty Company Limited, the Hainan Branch of Kunpeng Insurance Brokers (Beijing) Co., Ltd., and Hainan Yuanxin Huibao Technology Co., Ltd.
Wang Lu, Vice Governor of Hainan Province, attended the event and delivered a speech. He was joined by Gu Gang, Secretary of the Party Committee and Director of the Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration; Liu Zhefeng, Deputy Director of the Administration; Peng Xuan, CEO of Yuanxin Huibao; and other dignitaries. Together with nearly 200 on-site representatives from medical institutions in the Lecheng Pilot Zone, renowned domestic and international insurance companies, pharmaceutical enterprises, and media outlets, they discussed the future direction of building the “Lecheng One Health” system. Witnessed by the attendees, the “Hainan Free Trade Port Boao Lecheng Global Special Drug Insurance” was officially launched.
“Hainan Free Trade Port Boao Lecheng Global Special Drug Insurance” Released
Hainan Free Trade Port Boao Lecheng Global Special Drug Insurance (hereinafter referred to as “Lecheng Global Special Drug Insurance”) is an inclusive medical insurance product providing cost compensation for special drugs sourced both domestically and internationally. Spearheaded by the Administrative Bureau of Boao Lecheng International Medical Tourism Pilot Zone, and guided by departments including the Hainan Provincial Banking and Insurance Regulatory Bureau and the Hainan Provincial Healthcare Security Administration, the product is underwritten by China Life Property & Casualty Insurance Company Limited and People’s Insurance Company of China Property and Casualty Company Limited, in collaboration with Beijing Yuanxin Huibao Technology Co., Ltd. For a premium of just RMB 29, Hainan residents can access up to RMB 1 million in coverage for global special drugs, including 49 imported special drugs and 21 domestic special drugs not covered by basic social medical insurance. With affordable pricing, no age or occupational restrictions, no waiting period, zero deductible, and expedited claims processing, Lecheng Global Special Drug Insurance offers convenient, people-centered, and affordable protection, ensuring that Hainan residents can receive treatment for serious illnesses without leaving the island, afford inclusive coverage, and access necessary medications for critical conditions at no out-of-pocket cost.
Gu Gang, Secretary of the Party Committee and Director of the Administration Bureau of the Boao Lecheng International Medical Tourism Pilot Zone in Hainan, shared with the attendees that the superposition and openness of the preferential policies in the Lecheng Pilot Zone are also a microcosm of the development of China’s health industry. The launch of the Lecheng Global Special Drug Insurance in the Hainan Free Trade Port was achieved through full-process coordination and bold innovative breakthroughs by units such as the Banking and Insurance Regulatory Bureau, the Health Commission, the Drug Administration, the Healthcare Security Administration, and Customs, representing a concentrated embodiment of institutional integrated innovation.
Gu Gang stated that the Boao Lecheng Global Special Drug Insurance has pioneered a “public medical insurance + commercial insurance” mechanism to cover the costs associated with the application of new specialty drugs in medical services. With support from more than 20 multinational pharmaceutical companies and insurers worldwide, this initiative has enabled high-quality medical resources to benefit the people of Hainan first. This serves as a significant gift from Lecheng to the entire province during the early stages of the Free Trade Port’s development, allowing residents across Hainan to tangibly experience the benefits of these early achievements, while also contributing a “Lecheng Solution” to the health of the Chinese people.
Gu Gang, Secretary of the Party Committee and Director of the Administration Bureau of the Boao Lecheng International Medical Tourism Pilot Zone in Hainan
After providing attendees with a detailed analysis of the features and advantages of the Lecheng Global Specialty Drug Insurance, Peng Xuan, CEO of Yuanxin Huibao, stated that this cost-effective specialty drug insurance has made a strong contribution to accelerating the development of the Hainan Free Trade Port, marking another significant step forward for the Hainan Boao Lecheng International Medical Tourism Pilot Zone in its evolution into a comprehensive health industry platform.
Yuanxin Huibao played a pivotal role in bridging all stakeholders during the launch of the “Global Specialty Drug Insurance.”
Peng Xuan, CEO of Yuanxin Huibao
“The pilot zone offers favorable policies, pharmaceutical companies have strong products, and healthcare institutions can provide corresponding high-quality services. However, when these resources need to be integrated with commercial insurance, a professional entity is required to coordinate them. This is precisely the role we play,” Peng Xuan told VCBeat.
In terms of practical implementation, Beijing Yuanxin Huibao Technology Co., Ltd. first engaged in thorough communication with the Administration Bureau of Boao Lecheng International Medical Tourism Pilot Zone and proactively built an integrated insurance service platform for the Bureau, enabling some insurance claimants to receive advanced treatments in Boao.
After gaining an understanding of the basic situation and operational mechanisms through the service platform, Beijing Yuanxin Huibao Technology Co., Ltd. began designing insurance products by integrating its domestic expertise in specialty drug insurance with the advantages of Boao Lecheng, translating this synergy into insurance terminology.
The key advantage of Boao Lecheng lies in foreign new drugs that have not yet been approved in China.
Distinct from previous specialty drug insurance products in the Chinese market, the “Hainan Free Trade Port Boao Lecheng Global Specialty Drug Insurance” covers not only 21 specialty drugs already launched in China but also 49 overseas specialty drugs not yet available in China. Incubated under the four “special permissions” preferential policies—special medical treatment, special operations, special research, and special international exchanges—outlined in the Hainan Free Trade Port’s “Nine National Measures,” this is the first global specialty drug insurance product guided by the government, customized for the entire province, and providing coverage for both domestically launched and non-launched specialty drugs.
Moreover, the application process for these insured drugs is remarkably swift. Within 3–7 days after patients submit their applications, the medications can be delivered from overseas to Boao. According to Peng Xuan, the drugs may have already arrived while patients are still en route to Boao.
“In this global specialty drug insurance initiative, we have achieved accessibility in three key dimensions. First is practical accessibility: patients can access new drugs from around the world through formal channels. Second is financial accessibility: commercial insurance covers these originally high-priced novel specialty drugs, requiring patients only to purchase an affordable commercial insurance policy. Third is informational accessibility: through the global specialty drug insurance, we disseminate information on new drugs worldwide and highlight the advantages of the Hainan Free Trade Port, enabling more people to learn about these resources and benefit from them,” said Peng Xuan.
At the meeting, provincial leaders and representatives from the Provincial Health Commission, the Provincial Banking and Insurance Regulatory Bureau, the Provincial Healthcare Security Administration, the Provincial Medical Products Administration, Beijing Yuanxin Huibao Technology Co., Ltd., China Life Property & Casualty Insurance Company, PICC Property and Casualty Company, and the Provincial UnionPay jointly witnessed the signing ceremony between the China Patient Assistance Alliance (under the China Primary Health Care Foundation) and the Administrative Bureau of Hainan Boao Lecheng International Medical Tourism Pilot Zone. The “Hainan Free Trade Port Global Innovative Pharmaceutical Clinical Promotion Center,” established jointly by both parties, was officially unveiled. Moving forward, both parties will actively participate in and support the initiatives of the China Patient Assistance Alliance, continuing their efforts to safeguard the rights and interests of patients in China.
Unveiling Ceremony of the “Hainan Free Trade Port Global Innovation Pharmaceutical Clinical Promotion Center”
At the conclusion of the event, the launch ceremony of the “Boao Lecheng All-Health Insurance Summit” was jointly witnessed by numerous relevant institutions and enterprises—including the People’s Government of Hainan Province, the China Patient Assistance Alliance, China Life Property & Casualty Insurance Company Limited, and The People’s Insurance Company (Group) of China Property and Casualty Company Limited—alongside many medical institutions and renowned media outlets.
"Lecheng Holistic Health Insurance Summit" Launch Ceremony
The launch of the “Lecheng Global Specialty Drug Insurance” is a milestone achievement. Its introduction has enabled reimbursement for specialty drugs in Lecheng to go from zero to one, turning the vision of “major illnesses treated without leaving the island” from concept into reality. It addresses the challenge of reimbursing specialty drugs outside the scope of social insurance for residents on the island, representing an insurance product that benefits both the nation and its people. This initiative reflects the collaborative efforts of multiple stakeholders under the guidance of the Lecheng government and constitutes a substantive exploration toward filling the gap in Hainan’s specialty drug insurance coverage. Furthermore, the “Lecheng Global Specialty Drug Insurance” allows Hainan residents to access anticancer new drugs not yet marketed in mainland China at no additional cost, providing supplementary coverage for medication expenses beyond basic medical insurance reimbursement. It resolves the local patients’ difficulties of “difficulty in accessing and affording medications,” truly enabling patients to receive treatment for serious conditions without leaving the island. In addition to being easy to purchase and affordable, the “Lecheng Specialty Drug Insurance” is highly convenient to use—thanks to the establishment of integrated reimbursement channels for both social insurance and commercial insurance within hospitals. This integration significantly reduces the time costs associated with reimbursement for Hainan Lecheng Global Specialty Drug Insurance policyholders, achieving seamless linkage between basic medical insurance and commercial insurance, and supporting the Hainan government in building a multi-tiered healthcare security system.
The “Lecheng Global Special Drug Insurance” not only helps Lecheng further align with the development of an international tourism and consumption hub, steadily promoting deep integration among tourism, culture and sports, healthcare, and elderly care and wellness, but also facilitates the gradual implementation and realization of the visionary goal of enabling people across China to better access treatment options involving drugs not yet marketed domestically. It provides a model case and makes substantive explorations for enhancing the national level of medical security.