Bupa Global Business Health Plan
Bupa Global has introduced a new range of iPMI (international private medical insurance) products aimed at UK businesses with employees who work outside the UK.
Called Business Health Plan, the range comprises four new products: Business Select, Business Premier, Business Elite and Business Ultimate. Tiered by cover and price, annual limits vary from £2m (Select) per member up to no overall limit for the Ultimate plan. All versions exclude treatment in the USA as standard, except for Ultimate, although US cover can be added at extra cost to any plan.
The plans claim to offer all-round health protection for the mind as well as the body and can provide employees with 24/7 cover.
Plan benefits include:
In-hospital care.
Evacuation – if emergency treatment is not available locally, the employee will be evacuated (and when medically necessary this can also cover their relative or partner) to where they need to be for treatment.
Treatment for cancer and other serious illnesses, for as long as needed.
Hereditary, congenital and chronic conditions.
Transplants and rehabilitation.
Some benefits, such as wellness and screening benefits are not available in the first year of the plan and some other benefits (e.g. psychiatric inpatient treatment and obesity surgery) are only available after two years’ membership. Financial limits apply on some of the plans e.g. outpatient consultants’ fees are not covered under Select, are subject to a £6,400 limit on Premier but are covered in full on Elite and Ultimate plans.
Plans can be denominated in £, US $ or Euros, and Bupa Global can pay claims in over 80 currencies.
Comment: One of the challenges for iPMI insurers is offering sufficient choice so that customers can get the cover they want at the price they want without introducing mind boggling complexity. Bupa Global has done a very good job here and says it has worked with its customers to achieve that. One can always argue that this or that benefit should be included or excluded but, generally, Bupa looks to have got it about right here – at least for most customers.
The end result is a well set out offering where even the 43 page members’ guide is straightforward to read and not the painful experience reading T&Cs can so often be.
Plus points: A well thought out range of tiered products with simple decisions to be made by the employer; Very strong Bupa brand – which can be particularly reassuring if ill a long way from home; Even the basic plan has some ‘good surprise’ benefits; Top of the range plan has mainly unlimited cover.
Not so plus points: Some benefit limitations (especially on lower cost versions); Limited options inevitably mean some compromises; iPMI premiums have risen sharply across much of the market in recent years; Too few people working abroad have iPMI, with cost being a factor in that.
Website: http://www.bupaglobal.com.
Rating (max 10): Innovation: 8. Overall: 8.5. Gold
Tags: iPMI; Bupa