Allianz Worldwide Care EuroSanté
Allianz Worldwide Care’s new iPMI plan is designed for employees of European institutions, giving them cover which is supplementary to the EU’s Joint Sickness Insurance Scheme (JSIS). That scheme reimburses members for around 80% of their eligible medical expenses.
EuroSanté offers cover for medical costs which are not reimbursed by the JSIS scheme. The plan offers three cover levels and pays the difference between what JSIS pays and the actual cost, subject to the plan’s overall annual limit:
- Optimum. Covers both in/day and outpatient treatment and includes dental treatment (limited to €800 for the first two years).
- Equilibre. As Optimum but does not cover additional therapies/treatments or dental treatment (except for orthodontics and dental prostheses).
- Tranquillité. Excludes all outpatient treatment.
Maximum annual benefits for the three versions are €1,500,000, €1,250,000 and €1,000,000 within the EEA or €25,000 outside the EEA.
Premiums vary by age and type of cover, ranging from €57 to €412 a year for those aged 18 or under, up to €172 to €1,248 a year for someone aged 61-67. Other local taxes may apply in addition, depending on where the member lives. The Optimum and Equilibre plans can be paid monthly or quarterly too.
Members get access to multilingual online services, and direct settlement for inpatient treatment is available. Allianz says 98% of claim forms are processed within 48 hours in the currency chosen by the member. However, the JSIS reimbursement needs to be paid before a claim can be submitted to Allianz. Cover is worldwide.
For those who have been covered by the JSIS for more than 13 months, an additional medical questionnaire needs to be completed.
Comment: Around 33,000 people work as civil servants for the EU, but if we add in other institutions, the total figure could be over 150,000. A written European Parliament question in 2011 showed that over 140,000 people had benefited from JSIS (which came into effect from 2005). This means that though this scheme covers a niche market, it is actually quite a big market, especially as most members will be well paid and the cover is relatively inexpensive as it is top-up rather than full reimbursement cover.
Cover is pretty straightforward too – if JSIS covers the treatment, this plan will top-up any shortfall (with usual exceptions related to exclusions, and JSIS itself will pay out 100% of costs for accidents and work-related illnesses.
Plus points: Reimburses JSIS shortfalls for those who work for EU institutions; Choice of three cover levels; Low cost compared to full benefit iPMI; Worldwide cover.
Not so plus points: Worldwide cover is limited to a lower annual maximum; Some exclusions; Tranquillité plans must be paid annually; Expensive at older ages.
Website: http://www.allianzworldwidecare.com