Switching Health insurance

Could switching get you better cover and save you money?

At MediCompare, we specialise in helping people and companies in the UK save money on their insurance. We work with the leading health insurers in the country and can find the best policy and features to suit your requirements. Simply enter your details in our form and someone from our team will get in touch with you very quickly.

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Switching health insurance refers to moving from your existing insurance provider to another. This is common for customers looking to find the best rates on their cover and policy.

Lets face it – if you have been paying the same premium for several years, the insurance provider has no incentive to offer you a better price or any perks. But new insurers will want your business and be willing to offer you discounts if you switch. New insurers are very used to customers switching and can typically take care of the paperwork on your behalf and allow the private cover to continue without interruption.

Why Switch Medical Insurance?

All of these are valid reasons for considering switching your private health insurance but there are very important things to consider before you do it, like making sure the new provider offers Continuing Personal Medical Exclusions, known as CPME.

switching-health-insurance

What does Continuing Personal Medical Exclusions (CPME) do?

It ensures that you retain the same level of health insurance cover when you switch providers. It’s also called ‘protected underwriting’ or ‘no worse terms’.  The new Private Medical Insurance (PMI) provider would copy any personal medical exclusions from your existing policy, meaning that your exclusions would remain the same.  However, they should not add any new exclusions but may add as many new benefits as they like. If you are moving from a company scheme to an individual policy, they are likely to disregard medical history anyway and start fresh for you.

Can I Switch Health Insurance During My Existing Policy?

Make sure you look for ‘no change in treatment’ coverage. This means that if you have previously been covered for a particular condition and have made a claim, you can still get coverage for ongoing treatment for that condition, subject to the terms and conditions of your new plan.

Getting the right policy and provider could literally save your life. You’ll need professional advice to get it right.

At MediCompare, we work hard to give you the most extensive policy benefits at a price you can afford even under unusual circumstances.  We’ll treat you like an individual.  We’ll find out what you need, compare the best and most affordable health insurance products on the market and put you in touch with the best insurer that suits your requirements.

What To Check Before Switching Health Insurance Providers:

  1. Make sure there are no waiting periods that could interrupt your coverage.
  2. The new provider has an easy ‘switch’ process where they take care of the paperwork.
  3. The new company offers CPME for conditions that you were being treated for under your old policy.
  4. If leaving your employer’s policy, ask if you can switch to an individual policy with the same provider. Transition is easy and they continue to treat conditions they’ve treated under your company policy with no questions.
  5. The new policy offers the same or more benefits and allows you to choose your specialists and the hospitals where you are treated.
  6. There is a 24-hours customer service helpline available to discuss health concerns around the clock
  7. Also, before you consider a switch, it’s smart to review the policy you currently have. It might have restrictions about mid-year switches or with slight adjustments it might suit your changing health care needs.

It is also worth speaking to your existing insurer before you switch to see if they can better your current policy. A company will never want to lose your business so they may be able to offer you a better deal than your existing one which may include an additional claims-free bonus, nectar points or discounts off everyday products. This is similar to when you try to leave your cable or phone network – they will always try to improve your current deal.

It is also important that you do not cancel your existing plan before the other one has been accepted. Whilst the transfer onto another policy is usually quite seamless and you should remain covered, you never know when you might be in urgent need of care and you will not want to risk being without cover.

What Are The Benefits Of Switching Health Insurance?

These are the common benefits involved with switching which will of course, vary from insurer to insurer:

What Will My New Provider Need From Me Before I Can Switch?

Under a CPME arrangement, you supply your new health insurance provider with a copy of your most recent insurance membership certificate, usually by post or fax.  Some may require a health declaration form and have you answer a few simple questions regarding any current claims your scheme may have.  This enables them to make sure you get the right kind of coverage. For more information, email us at info@medicompare.co.uk