Posted on Jun 04, 2012 by Sergio Ulloa
Two international health insurers have made minor adjustments to their health plans. Both AXA PPP International and Now Health international have made changes, mostly to their international group health insurance plans, in order to increase their appeal to corporate customers.
Now Health International has moved to modify their mid-range group insurance plan, WorldCare Advance, to offer routine dental and maternity coverage options based largely upon responses from intermediaries. Available to companies with 10 or more employees enrolled on the policy, the options include coverage for routine dental care, complex dental care and routine maternity care.
Routine Dental benefits will provide cover up to UK £ 312 (US$ 500), while complex dental benefits will cover up to UK £ 625 (US$ 1,000). Both optional dental benefits packages come with a 20 percent co-insurance. The added routine maternity coverage options will provide benefits up to UK £ 4,375 (US$ 7,000), and will provide policyholders the option of taking out the benefit with or without a 20 percent co-insurance.
In a slightly different approach, AXA PPP International is making policies written on a medical history disregarded basis more available to group applicants. AXA PPP has reduced the number of people required to be on the plan in order to receive the medical history disregarded benefit from 10 to 5.
Medical History Disregarded, also known as MHD, is a highly attractive benefit for providing coverage to individuals with pre-existing conditions. Under an MHD benefit all pre-existing conditions present within the group can receive coverage under the plan, even if they would normally be excluded from protection. The move by AXA PPP to lower the entry point through which groups are able to receive MHD coverage is being welcomed by intermediaries and policyholders worldwide, and means that organizations across the globe now have a more flexible option on the table in relation to this coverage without having to have the normal 20+ employees enrolled on a policy.
AXA PPP International have also amended their rules, making it possible for individuals who are currently underwritten by a different insurer to switch over to AXA PPP's Chanel Islands or International Health Insurance plans while still maintaining the same terms of underwriting. In order to take advantage of the ability to switch providers to AXA PPP, the individual must simply turn in a declaration form verifying they have not received treatment in a hospital or visited a specialist within the last 12 months, have not had cancer within the last 5 years and do not have any treatment scheduled in the near future.
Both of the modifications to plan benefits or structure made by AXA PPP and Now Health should provide added appeal to consumers, especially those looking for group plans. While this may be a point in time where AXA PPP and Now Health have both seen areas there they can improve upon their products to increase membership, it will be interesting to see if other insurers further refine their offerings as well.
Insurance Companies Mentioned
AXA PPP International
Originally known as PPP Insurance, the company became part of the Global AXA Group in 1999 and changed its name to AXA PPP in 2002. AXA PPP is now an international health insurance company with over 2 million customers around the world.
Now Health International
Now Health International is an international health insurance provider that was founded in 2010. Now Health is based in Hong Kong and also has regional service centers in Dubai and the United Kingdom. Its plans are underwritten by members of the AXA group.