Exeter Friendly Society has established interplan euro, an individual private medical insurance (PMI) plan aimed at expatriates.
The plan is designed for expatriates living in Spain, Portugal, Gibraltar, Italy, Greece, Holland, Germany or Scandinavia for at least 180 days a year. It has three levels of cover and offers benefits including inpatient & daypatient cover, outpatient services and minor surgical procedures.
Inpatient & daypatient treatment covers hospital charges of between Î7,500 and Î50,00 for each condition each year, depending on the level of cover chosen. Specialists services are paid in full and parental accommodation benefit is paid in full on level 2 and level 3 cover.
Out-patient services provide between Î1,500 and Î3,000 each year, while benefits for GP consultations, physiotherapy and complementary treatment range from Î300 a year to Î1,000 a year, depending on the level of cover taken.
The overall maximum benefit is Î15,000 a year for level one cover, Î75,000 a year for level two cover and Î150,000 a year for level three cover.
Interplan euro differs from other PMI plans aimed at this market in that premiums are based on the age policyholders join and will not be affected by the policyholder getting older. Any increase in premiums will be the result of the rising cost of treatment. Policyholders will also be eligible for treatment in any country within the European union.
However, one downside is that the plan ignores the current trend for modular plans, so policyholders are not able to revise their cover if their needs change. Also, despite the euro being a single currency, there are different exchange rates for the euro in each country and policyholders would need to be aware of this if they were to take advantage of the plans portability.