When you buy your private medical insurance you will be offered different insurance excess options. The higher the excess you choose, the lower your annual premium will be.
Most insurers will offer an excess per person per policy year. Some will also offer per person per claim. The “per claim” option is normally cheaper.
Personal healthcare policies can offer up to a £5000 excess. Company healthcare policies tend to offer up to £500.
If you choose to have a high level of excess then you may opt to exclude cover for out-patient treatment altogether and use your policy for the high cost in-patient cover element.
Perhaps your decision to look at individual health insurance is due to the medical history of a family member or recent medical experiences of close friends. Whatever has made you decide to consider private health insurance, it is essential that you find the right policy from the start.
Purchasing company health insurance policy/ business private medical insurance can be a daunting prospect. Especially true if you don’t know the market. Knowing the mistakes to avoid can save you valuable time and money. There are many options when it comes to buying company private health insurance for your business. The trick is not to pay for benefits you know you won’t need. The duty of care you have for your staff is important. Buying the right company health insurance policy could ensure that you have this covered for a minimal outlay. Staff like to be valued, what better way…
When considering reduced cover options it is important to understand the advantages and disadvantages that each benefit brings. What happens if you pair certain options together, such as pairing out-patient limits with an excess?
Medex Protect offer a specialised, low cost insurance product which offers cover for your excess and shortfalls in payment from your Private Medical Insurance provider. This is available to company health insurance schemes. By increasing the excess on your Private Medical Insurance you can reduce your premiums. You can then take a policy from Medex Protect that will cover the excess and shortfalls up to the plan benefit level chosen. Medex Protect offer 3 levels of company plan: 150 Plan; covering £150 excess and £150 shortfall 250 Plan; covering £250 excess and £250 shortfall 500 Plan; covering £500 excess and…
An excess is a common option to consider when looking to purchase a Private Medical Insurance policy. It can also be used as a way for you to save money at the renewal of your policy. Excesses range from as little as £100 to as high as £5,000 and there are many options to choose from. Your Health Insurance excess is the amount you agree to pay when you make a claim. The common excess type is per person per year however it can be offered per person per claim. It is important that you know which type of excess…