Officials announce a medical insurance policy that covers foreign medicines at a press conference on July 21 in Haikou, capital of Hainan province.

The newest version of the trailblazing medical insurance policy that covers foreign medicines will be offered by the Boao Lecheng International Medical Tourism Pilot Zone and will take effect on Aug 2 this year.

It was announced by officials during a press conference held on July 21 in Haikou, capital of Hainan province.

The first version of the insurance policy was brought into effect in August 2020 and more than 1.7 million people in China had purchased the insurance by the end of May 2021. The most current compensation claim was 550,000 yuan ($85,042). 

The policy has paved a new way for integrated health insurance and commercial insurance so that the financial burden of patients using licensed medicines could be further relieved.

The first version of this government-backed insurance covered 70 anti-cancer drugs for 35 common types of cancer. Among these, 49 medicines are yet to be approved for sale in the Chinese mainland market.

Gu Gang, director of the Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration, speaks during the press conference.

Gu Gang, director of the Hainan Boao Lecheng International Medical Tourism Pilot Zone Administration, said that the launch of the insurance policy has marked one more step forward for the integrated innovation of mechanisms in the Hainan Free Trade Port and has brought more benefits to local patients. 

Details of the newest version of the insurance policy were also unveiled at the press conference. 

Yi Xichun, an official from the Hainan Office of China Banking and Insurance Regulation Commission, noted that a total of 100 medicines for 42 types of cancer will be covered and 41 pharmaceutical companies from both home and abroad will be suppliers. 

Eight more services will be offered in addition to the other eight basic services that were listed in the policy last year, such as helping patients find medicines from around the world, cancer genetic testing services, early screening for critical diseases and emergency rescue service.

All residents on the Chinese mainland, regardless of their nationality, aged from 28 days to 60 years old can purchase the insurance for the first time. The age limitation for those who have previously purchased the insurance has been extended to 99 years old.