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PMI insurers create confusion over cancer benefits

Private medical insurers are creating uncertainty for members of PMI schemes because they have differing approaches to cancer therapies.

Watson Wyatt is warning employers and especially those that operate self-funded arrangements to ensure they are aware of the PMI providers’ stance on cancer treatment as it could impact financially on scheme members.

The use of Herceptin and other treatments are increasing but their cost is an issue for the NHS and PMI providers may also have financial reasons why they do not cover the use of these drugs.

Watson Wyatt head of Healthcare and Risk Consulting David Cross says: “Our guidance to all employers offering private medical benefits, and particularly those operating self-funded arrangements, is to ensure that such decisions are being taken using the best governance principles.

“As such, employers need to understand the position of their own plan rules and benefit design with regard to cancer, ensuring that any decisions taken with regard to cancer benefits are formally supported by both the current financial and clinical evidence available. It should, however, be appreciated that employer decisions in this area are very possibly going to be subject to future challenge from claimants if benefits are to be restricted.”


AFB appoints Sinclair as associate director

Robert Sinclair has been appointed associate director of the newly formed Association of Finance Brokers.The role will involve representing the industry to Government, politicians, civil servants, regulators and policy-making groups.Sinclair was formerly head of advice development and quality, retail banking at Abbey National and previously worked for Inscape Investments and HSBC.AFB director general Chris Cummings […]

IFAs replace the vicar as someone people can turn to

Consumers will pay a premium for IFAs who focus on leadership, relationship building and creativity, according to business consultant Dan Sullivan. At the PFS conference in Birmingham, the motivational speaker said if IFAs are to get the most out of their clients, they need to focus less on product sales and more on relationships. He […]

This week in Pensions

Providers are being encouraged to whistleblow on IFAs with severe commission clawback debts by the FSA.

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes


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