AIG Europe has designed the healthnow plan for the group budget private medical insurance (PMI) market.
Healthnow is aimed at small to medium-sized companies in the UK with between five and 200 employees.
Premiums start from £7 a month for a male aged 18 and cover is available for a total of 128 procedures that have the longest waiting times on the NHS at the moment. These include operations for cataracts, squints, gall stones, heart bypasses, hernias, varicose veins, slipped discs and hip replacements.
If the client is diagnosed for a condition that is not covered by the list, AIG Europe will give advice about the fastest way to get NHS treatment. The product does not cover any accident or emergency treatment or physiotherapy.
Healthnow is unusual as it limits the cover to the procedures with the longest NHS waiting times. It also has low premiums compared to other group budget PMI plans. Based on a male aged 18 its nearest competitors include Norwich Unions healthcare trustcare starter, with premiums starting from £10.31 a month and Exeter Friendly Societys Exeter care low cost plan, with premiums starting from £9.95 a month. However, both of these rival plans cover a much wider range of procedures and treatments than the AIG Europe plan.