Bupa is launching a new flexible private medical insurance (PMI) product for businesses covering more then 50 employees. From 1 December 2009, employers can tailor cover to suit the needs of their business and staff and won't have to pay for cover they don't want or need. For the first time, companies of all shapes and sizes will be able to build their own tailored health insurance packages, using benefit options previously only available to larger employers.
Called Bupa Select, the new product has a comprehensive core product at its heart and offers a wide range of out-patient benefit options, as well as add-on cash packages and a range of underwriting and excess options.
In addition companies can choose to exclude cancer or psychiatric cover, have a rolling excess (meaning when a member pays an excess, they won't have to pay again for 12 months, irrespective of contract renewal dates) or add an annual benefit maximum to their policy, allowing them to control costs and minimise exposure to high claims while still offering a good level of cover.
They can also take advantage of a range of out-patient options including full refund for diagnostics. This means that employee ailments can be diagnosed promptly and the total cost of diagnosis is covered.
Adding a cash package means staff can claim for eye care and glasses, prescription and dental charges. A family cash package provides maternity benefits, so even healthy employees can benefit from the scheme. There are also packages available to cover overseas employees, repatriation and employees based in Jersey, Guernsey or the Isle of Man.
Fiona Harris, head of strategy and development at Bupa UK Health & Wellness said:We know that many businesses are struggling in the current economic climate, but we also know how much they and their employees value their healthcare cover. Feedback from intermediaries has shown they need clarity of the benefits available. Following the introduction of our new operating system, SWIFT, we are now able to provide a more flexible PMI product to the whole of the experience-rated market, regardless of group size. Bupa Select makes it as easy as possible for clients to tailor their cover to ensure everyone receives the right healthcare benefits for them.
For more information about Select, please visit www.bupa.co.uk/bupaselect-corporate or call 0800 33 2000.
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Bupa's purpose is to help people lead longer, healthier, happier lives. A leading international healthcare group, we offer personal and company health insurance, run care homes for older people and hospitals, and provide workplace health services, health assessments and chronic disease management services, including health coaching, and home healthcare.
With no shareholders, we invest our profits to provide more and better healthcare. We are committed to making quality, patient-centred, affordable healthcare more accessible in the areas of wellness, chronic disease management and ageing.
Employing nearly 52,000 people, Bupa has operations around the world, principally in the UK, Australia, Spain, New Zealand and the USA, as well as Hong Kong, Thailand, Saudi Arabia, India, China and across Latin America.
For more information, visit www.bupa.com.
