Under the new charging structure, MediCare clients are given the opportunity to choose between one of four policy excess levels, which will give them either a 10%, 20%, 35% or 50% discount on the policy combination they originally selected.
For example, in order to get a 20% discount, a policyholder might expect to pay the first £1,000 of a claim, a MediCare spokesman said, a relatively small percentage of the total cost of, for example, a full course of cancer treatment.
MediCare senior executive director David Pryor said the company was introducing the optional new charging structure in an effort to reduce the rates the company was obliged to charge.
“Client feedback told us that the quality of the care is paramount and should never be compromised, but for some, the option to co-insure, and accept a proportion of the costs in the event of a claim, could be a very attractive feature,” Pryor added.
London-based MediCare is the international healthcare division of LONMAR Global Risks. It offers four different levels of cover across two geographical options: worldwide, and worldwide excluding the USA, Canada and the Caribbean. Types of policies offered include individual, group cover and direct staff schemes, with group rates available for three or more policyholders.
New multi-currency feature
In other news at MediCare International, a new multi-currency feature has been added to the company’s online “quote and buy” package. This means that prospective clients from all over the world may now receive an online quote in sterling, US dollars or euros, and immediately take out a policy in their chosen currency, the company said.
In a statement, MediCare said expects its new multi-currency operating platform would “open up its policies to new markets overseas” and boost its client base, which is spread out across 121 countries around the world.
Evacuation coverage
In addition to offering coverage for a wide range of medical conditions potentially requiring treatment, from basic GP and dentistry visits through to emergency hospital care, MediCare provides evacuation coverage for clients who become seriously ill in places where medical care is inadequate.
The company also claims to be one of the few insurers whose policies cover in full the cost of chronic care treatment, and that it covers workers in some of the world’s more difficult areas, such as warzones and post-conflict reconstruction areas, which some other insurers do not.
More information about MediCare International may be found here, or by emailing [email protected], or by calling +44 (0) 20 7204 3700.
