Controlling the cost of international private medical insurance

Tough economic conditions focus every businesses’ attention on costs and employee benefits packages are no exception. International private medical insurance is a major benefit for many and MediCare International, one of the leading providers in the market, has a reputation for good value and for restricting premium rate rises to amounts which are usually below the industry average for medical inflation. This year, for example, with medical inflation running at around 12%, MediCare International has restricted premium rises to 5% for group business and 8% for individual cover. Moreover, from July 2012 onwards, policies will now have all co-insurance costs in the areas of maternity and new-born care removed, offering further cost savings for families.

MediCare International's focus on cost control is based on an aggressive excess or co-insurances strategy, allowing clients to buy international medical cover with up to 50% off the cost of premiums. In practice this means expatriates are still securing cover against potentially high cost claims such as hospital treatment, long term illness, evacuations, major operations, complications etc., but from a day to day perspective in areas such as GP or dental costs, the policy holder is effectively self-insuring to save on costs.

MediCare International believes this gives clients the best of both worlds.  Managing director Debbie Purser said, “We are constantly looking at ways to keep costs down for clients, whilst at the same time retaining top quality options on cover, should the need arise. Our voluntary excess structure can give policyholders up to 50% discount on their premiums, which in real terms can bring the cost of a typical policy for a 40 year old single male to £822 annually or £215 quarterly with cover still included for major events such as inpatient stays, cancer treatment costs and medical evacuation.”

MediCare International offers four different levels of cover across two geographical options, worldwide and worldwide excluding the USA, Canada and the Caribbean. Polices cover a wide range of potential complaints from GP and dentistry visits through to emergency hospital care and evacuation for the most serious cases. MediCare International is well known as one of the few insurers whose policies cover in full the cost of chronic care treatment. The company also covers workers in some of the world’s more difficult areas such as warzones and post conflict reconstruction areas.

For details of MediCare’s International health insurance plans visit www.medicare.co.uk, email medicare@medicare.co.uk or call +44 (0) 20 7204 3700.