Option one covers out-patient tests and consultations, option two covers acute surgery, option three is for complementary therapy, option four provides cover for cancer treatment and heart conditions while option five features cash benefits for optical and dental treatment.
Policyholders have the flexibility to choose one or more options to suit their needs and can alter their choices at any time.
An interesting feature of the plan is that it uses BCWA’s new claims handling and customer care service. This is called Service + and is intended to keep costs low and paperwork at a minimum.
Although there are no excess options to reduce costs, there is a low-claims discount of up to 50 per cent. This is designed to reward long-term customers who make fewer claims. All new members start off with a 25 per cent discount, which will increase by 5 per cent for each year that claims amount to less than a third of the premium. By the same token, if claims are higher than 66 per cent of the premium, policyholders will lose 10 per cent of their discount.
Service + was piloted in late 2005, with the aim of providing a personal service to policyholders while speeding up the decision making process to reduce costs. Medical costs are also reduced by Boca’s negotiation of the best rates for policyholders and arranging hospitals within 35 miles of the policyholder’s home.
This product manages to stay relatively simple despite its mix and match approach. However, the absence of an excess option and the £50 lifetime limit for the treatment of cancer and for heart conditions may disappoint some people.