How you can keep your Health Insurance cover when you leave a company policy

If you have health insurance cover as an employee. what are your options when you are going to leave a company policy? This can be especially relevant if you have pre-existing conditions or are currently undergoing medical treatment. Whether you are retiring or just changing jobs, knowing what options you have before you leave your job can make your decisions alot easier.

Health Insurance Options from your current insurer when you leave a company policy

Leaving a company health insurance policy does not mean your cover has to end.  You can apply to your current insurer to switch to an individual policy with no further underwriting. This option is really important for people who have had claims in the past. You can choose to have a similar level of cover as your employee benefit or you can look at changing the benefits to suit your budget. Some insurers may need you to answer medical questions but the majority will accept a no further underwriting switch. Remaining with your current provider can really help if you have pre-existing conditions that you want to keep your cover in place for.

If you are happy with your insurer but have no pre-existing conditions you could obtain new underwriting options. This will save you money when you switch to an individual policy. Some insurers will allow you to backdate your cover from the day your employment ended even a month or two down the line. In our opinion though, it is more sensible to get your individual policy in place before you leave a company policy.

Switching your Health Insurance to an alternative individual insurance provider

If a continuation option is too expensive, you could find a more affordable cover with an alternative insurer on a continued personal medical exclusions basis. To be able to switch to a new provider you would have to be able to answer their medical questions. If you cannot do so, they may include medical exclusions to your policy for pre-existing conditions. Please remember that no two insurers offer identical cover options and therefore there could be small differences in benefits.

If you are leaving your job and are looking to continue your Health Insurance, we are here to help you. Our team can provide you with a full review and help you to make an informed decision. Your choice of continuation or switch policy depends mainly on your medical history. We can guide you in the best solution in your specific circumstances. 

Contact us on 01245 929 129 or email and one of our team will happily assist you.