Healthcare pricing options explained

There are several factors affecting premiums, including medical inflation, the cost of treatment and, most importantly, claims history. We have a number of different pricing options designed to cater for all sizes of scheme and to help keep premiums to a minimum. You may want to consider these options at your next renewal, particularly if your scheme size is changing.

Sometimes referred to as Community Rating, Age Rated is a traditional way of assessing premium rates for companies, based on the age profile of employees joining the scheme, which we offer to schemes with at least three, but fewer than 100 adult members. Premium rates are based upon the value of all the claims made by companies that have the same company plan as you; inflation in the cost of providing treatment and therapies, and the overall cost of providing the benefits available with the plan. The number, or value of your company's claims does not affect your premiums.

The premiums charged also take into account whether your scheme falls into the band of three to five members or six to 99.

If your scheme has between 50 and 3000 members, you can opt for the Claims Related premium option. A Claims Related scheme allows us to calculate premiums based on your unique claims history. If you've been insured before, we calculate this using your claims history over the past three years. If you are setting up a new scheme then your first year's premium will be based on the experience of our wider portfolio of company schemes and the average age of your scheme members, with future renewals based on your company's own claims experience.

The same rate will be applied to every member, regardless of age; the only exception is the premiums charged for those 65 and over.
We will keep you informed regularly about numbers and costs of claims made by employees and dependants.

Both Company Primecare and Company Primecare Plus are available with either a £100 or a £250 excess option, payable by the member on each claim.

Contact us, or your financial adviser for a quote on any of our pricing options or check out Renewing your policy if you're ready to renew.