WPA Absolute Health (Protection Review: Gold, Adviser score 7.0)
WPA has launched a new comprehensive health insurance product for corporates with 150-999 employees.
The insurer says Absolute Health has been designed for mid-to-large employers that want to offer benefits which help them deliver their corporate healthcare strategy and objectives.
It is a fully insured claims rated product that includes profit share optionality, as well as pathways for musculoskeletal, mental health and cancer as standard.
Claims on the product can be made via WPA's Health App with access to the insurer's Precision Analytics platform also included. Key elements include:
The plan has been designed to be flexible, whilst maintaining a comprehensive list of core benefits typical of what an employer would expect to receive from a health insurance package.
Extended Benefit Options allow the employer to complement the health insurance benefits. That could include remote GP services or long-term (chronic) conditions benefit or cash plan benefits, such as prescription charges, optical and dental treatment.
Members have access to Healthcare Pathways to aid faster diagnosis and treatment for key issues, often most associated with absence from work. The Healthcare Pathways avoid the need for an initial GP referral. Starting the journey is as simple as phoning the WPA helpdesk or pre-authorising your claim using the WPA Health app.
Employers can take greater control of their premiums by choosing a Shared Responsibility or Excess level.
Comment: When it comes to designing big group PMI schemes, the customer is pretty much king – being able to tailor cover to their specific needs. So, the corporate scheme for business A could be very different to that for business B. None of which makes life easy for the broker – or indeed the product reviewer!
In practice, issues such as service and price are key and WPA has always especially prided itself on the latter.
The bottom line is that WPA will now be on the short list for larger businesses that are looking for fully insured group PMI cover.
Plus points: A fully insured PMI plan for larger businesses; Flexibility of cover; WPA’s service levels.
Not so plus points: Not much.
Website: http://www.wpa.org.uk.
Rating (max 10): Overall: 8.5. Gold
Tags: PMI; WPA
I Mark: No