We are considering setting up a Business Health Insurance scheme for our employees and want to know they are covered for any treatment they may require.
To ensure our employees can obtain cover for existing medical conditions I wanted to know how large the scheme needs to be before you can apply for medical history disregarded cover?
It is usually possible to set up a group / Business Health Insurance scheme on a medical history disregarded (MHD) basis around 20-25 employees, although this will vary from insurer to insurer.
It is worth noting that the premiums charged by the insurers would be around 20-25% more for a for an MHD scheme relative to a scheme underwritten on a moratorium basis.
This is because an MHD scheme carries more risk and a higher claims ratio given that pre-existing conditions would be covered.
Good interaction between client and advisor. Drew knew his brief; articulated and explained the issues clearly and answered questions fully. This all helped me clarify what I wanted and so we agreed on our action swiftly. I am a very satisfied client. Thank you.