The Exeter Health+
Health+ is a menu based private medical insurance (PMI) product for individuals and families.
The plan is built around a comprehensive core cover module, which includes unlimited cover for cancer, inpatient and daypatient treatment plus outpatient surgery and private ambulance and home nursing, parental accommodation, post-operative physiotherapy and NHS cash benefit (paying £150 a night up to 30 nights a year).
To this can be added various optional add-ons:
Additional outpatient cover. This pays for specialist fees and diagnostics and offers a choice of three cover levels, including unlimited cover.
Additional mental health cover. This pays for up to 28 days’ accommodation and nursing.
Additional therapies cover. After a GP or specialist referral, customers can access a physiotherapist, chiropractor, osteopath, acupuncturist, podiatrist, speech therapist, pain clinic or have up to two consultations with a dietician. Three cover levels are available.
To reduce costs, customers can choose one of six optional policy excesses (up to £5K a year) and there is a choice of three hospital bands, all of which include some London hospitals. There is a range of underwriting methods - full medical underwriting, standard and continued moratoria, and continued personal medical exclusions, with the last two applying to switch business.
A non-compulsory, transparent no claims discount (with 15 levels offering up to 75% discount and with a starting point of 70%) based on the value of claims, can be chosen and applies to each person covered separately. The NCD can be protected at additional cost (effectively once to avoid going down the NCD scale). The option to remove the NCD (and select a Community Rated premium structure at quote) applies to customers applying through Full Medical Underwriting or Standard Moratorium.
The plan automatically includes the new HealthWise app, launched in partnership with Square Health. This allows customers to access digital health services and e-treatments. Through the app, members get instant access to GP on demand and second medical opinion services, plus physiotherapy and mental health specialist consultations using video. There is also a prescription delivery service. Members can access all HealthWise benefits without making a claim, so it will not impact any no claims discount.
Comment: The Exeter has simplified its PMI offering by scrapping its old plans in favour of a more modern menu based plan. That includes many of the elements brokers chose The Exeter for (albeit no longer with a fixed moratorium option) plus the new Health Wise app. This sits independent of mainstream claims and so does not affect any NCD.
The Exeter has included a range of options to manage premiums down, including an NCD. Many of us don’t like these but at least The Exeter’s offer is pretty fair and straightforward and even includes a (limited) NCD protection option.
Overall, it’s a good PMI plan that should appeal to brokers and customers alike.
Plus points: A good comprehensive menu style PMI plan; With a practical and useful Health Wise app that doesn’t affect the main plan and so doesn’t affect any NCD; Various ways to minimise or best manage the premium; Simplifies The Exeter’s PMI offering; HealthWise has scope to add more benefits in future.
Not so plus points: NCD’s can be expensive in the long run if persistent claims are made; High initial starting NCD which limits scope for paying lower premiums in future; NCD protection is limited; Choosing all add-ons can increase the cost significantly.
Website: http://www.the-exeter.com/healthplus.
Rating (max 10): Innovation: 8.5. Overall: 8.5. Gold
Tags: PMI; The Exeter