News

Now Health announces detail of semi-annual product and price review (1)

22nd January, 2014 News

22 January 2014

Now Health announces details of their semi-annual product and price review, which will apply from 1 March 2014.

Details of the product changes and the affected premium rating areas, including the associated increases are listed below.

Please note that this product and price review does not affect the China admitted Now Health Minan product.

Plan changes

 

The Out-Patient Direct Billing additional option will no longer be available for new business.  This option will still be available for renewing plans providing the option was in-force prior to 1 March 2014.  Plans with a nil excess will continue to be able to access the out-patient direct billing network.

As a replacement to the out-patient direct billing additional option, a new USD 25/EUR 20/GBP 15 Per Visit Out-Patient Excess will be available for both new and renewing plans.  This new option will provide more affordable access to the out-patient direct billing network and any day-patient or in-patient treatment will benefit from a nil excess.  The price point will be a 15.5% discount of the nil excess premium.

The Out-Patient Co-Insurance additional option is being extended from 'Benefit 22: Out-Patient Charges' to include all out-patient treatment, other than maternity, dental and wellness benefits.  Members choosing this benefit will also be able to seek treatment via the out-patient direct billing network.

As an improvement to our existing claims process, if your clients' have had to pay and claim for out-patient treatment, Section 3 of the Claim Form no longer needs to be completed by a medical practitioner, regardless of the value.  This means that only in and day-patient claims in excess of USD 500/EUR 400/GBP 300 require completion of Section 3.

Benefit changes

The Renal Failure and Renal Dialysis benefit will be enhanced for WorldCare Advance, Excel and Apex to include up to six weeks full refund for in-patient treatment.

Hospital Cash Benefit will be increased to the following per night:

Essential: USD 125/EUR 100/GBP 75 (prev. USD 100/EUR 80/GBP 60)

Advance: USD 175/EUR 140/GBP 105 (prev. USD 150/EUR 120/GBP 90)

Excel: USD 225/EUR 180/GBP 135 (prev. USD 200/EUR 160/GBP 125)

Apex:  USD 275/EUR 220/GBP 165 (prev. USD 250/EUR 200/GBP 155)

Ancillary Charges will be increased to the following per medical condition:
Essential and Advance: USD 1,500/EUR 1,200/GBP 930 (prev. USD 1,000/EUR 800/GBP 625)

Excel: USD 2,000/EUR 1,600/GBP 1,250 (prev. USD 1,500/EUR 1,200/GBP 930)

Apex: USD 2,500/EUR 2,000/GBP 1,550 (prev. USD 2,000/EUR 1,600/GBP 1,250)

Premium increases

 

For business written in our Asia Pacific region (Areas 2, 4, 6, 8, 10, 14): 10% increase 
(cumulative annual increase including August 2013 review of 12.2% for Essential and Advance and 13.3% for Excel and Apex)*

For business written in our Gulf region (Area 12): 10% increase
(cumulative annual increase including August 2013 review of 12.2% for Essential and Advance and 13.3% for Excel and Apex)*

For business written in the rest of the world
(Areas 1, 3, 5, 7, 9, 11, 13, 15,16): 4.5% increase
(cumulative annual increase including August 2013 of 6.6% for Essential and Advance and 7.6% for Excel and Apex)*

* The premium increase will be on or around this percentage.  There may be a very small variance up or down depending on the region, age band, excess or payment frequency.

We make every effort to maintain premiums as low as possible and the above review is in response to the high medical costs and utilisation we experience in our core markets.

Please contact us using one of the buttons at the top of the page if you have any questions about the review.

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