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Individuals, Companies & International Cover

Anyone can buy PMI regardless of whether you are an individual with or without a family, a company or even require cover internationally. There are certain criteria you need to consider when purchasing a plan as follows:

Individuals have an extensive range of plans available and in general, premiums can be paid either by the policyholder, their company, a partner, power of attorney or nominated person. Usually premiums are payable by Direct Debit on a monthly, quarterly or annual basis, or by cheque annually which must always be made payable to the insurance company. The cost of your healthcare is usually attributed to your age (the cost of your healthcare usually increases with age), where you live, your lifestyle and any related medical conditions. Otherwise you have a wide range of cover available to you.

For companies, things differ only slightly. Your insurance premium must be paid by the company and the cost of providing private healthcare cannot be re-deemed from the employees of the company. There may be certain taxation advantages for companies which should be discussed with your accountant and company paid plans are generally more affordable than individual plans. For companies that wish to offer the benefit of private healthcare to their employees without the cost, can arrange a Voluntary scheme if sufficient employees wish to take part which can attract certain discounted terms.

International PMI however, needs to be considered very carefully. International cover should not be confused with Travel Insurance and vice versa, both offer different forms of protection. As well as the information contained within this document, the following is a brief list of some of the considerations you need to take into account when purchasing an International PMI:

International Helpline	Cover for Pre-Existing Medical/Chronic Conditions
Home country cover	Out of geographic area emergency medical cover
Doctors’ (GP’s) charges	Compassionate emergency travel home
Maternity Cover	War and Terrorism
Area of Cover	Emergency Evacuation and Repatriation cover
Wellness benefit	Repatriation of mortal remains
Dental & Optical Care	Legal Expenses Cover

Which plan is right for me?

There are over 100 different plan variations available to you so it is essential to get the right advice to ensure you are gaining the cover you need. In general, you have a choice of a standard plan or what is more commonly referred to as a ‘Menu-based’ plan or ‘Modular’ plan. There is no right or wrong answer in which plan you opt for as both offer good levels of cover, although a Modular plan will allow you to ‘pick-and-mix’ the benefits that you require. Other factors that will influence the choice of plan are your age, where in the UK or abroad you live, hospitals that you would want to be included and your lifestyle such as smoking and exercise levels.

What level of cover do I need?

When purchasing your plan, you need to consider whether you want to be covered for In-Patient treatment, Day-Patient Treatment and Out-Patient Treatment. Medical insurance plans can be categorised into three levels of cover which are referred to as Budget/Low-Cost Cover, Mid-Range or Comprehensive cover

In general, Low-Cost plans cover the cost of your In-Patient stay only and may offer limited Day/Out-Patient treatment for Cancer Care only; Mid-Range plans still provide cover for your In-Patient cover and Cancer Care combined with a limited budget towards Day/Out-Patient Treatment; whilst Comprehensive plans generally offer full cover for all In/Day/Out-Patient treatment.

It is important to highlight that the insurance companies offer different levels of cover and whilst many refer to their benefits as ‘Full Cover’, there may still be a limit applied to the maximum that can be claimed. Also, insurers use a ‘schedule of fees’ to ensure they are paying claims within a reasonable cost for the treatment you are receiving. Your independent healthcare consultant has the right training and expertise to advise you on any claim limitations that may be applied to your plan.

Reducing Costs

Although PMI can be seen as a luxury, there are a number of ways in which you can limit the cost of your healthcare protection by investigating a few simple options. As well as exploring the UK and Word-wide Health Insurance Plans that are available to you, the following is a brief list of the varying ways in which you can considerably save on the cost of your healthcare protection.

No Claims Discounts	Paying Annually
Co-Pay/Shared Care Health Insurance	Cover for Cancer and Heart conditions only
Increased or High Excess Options	Sole traders and the self-employed
6 Week Wait plans	Company/Voluntary plans
Limited Hospital List	Modular plans
Use of Private NHS Facilities	Being re-underwritten
Age fixed Medical Insurance	Various new innovations
On-line discounts	Healthy lifestyle Discounts

Your English Mutual healthcare specialist is fully trained in all variations of medical insurance plans and will find the plan to suit your budget.

What to do next?

Firstly, set yourself a budget and decide how much value you place on protecting your health. Remember to be realistic as the more you ask for, the more expensive your plan will be. Cover for a single person aged 40 will range from around *£34.35 per month for a standard plan to *£54.95 per month for a comprehensive plan. Then, contact your Independent English Mutual healthcare specialist for a free, non-obligatory review of the market on 0845 603 3679 or by email at healthcare@englishmutual.com. We will need to ask you a few questions to ensure we can get the right plan for you at the right cost, so do remember to allow plenty of time for us to talk with you and challenge English Mutual to save you money.

*Source Freedom Healthnet rates May 2008 & *Health-On-Line rates October 2008

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