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Savings on healthcare

PMI insurer Western Provident Association has introduced a new individual product which it says can save policyholders up to 50 per cent on their premiums.

Under its flexible health plan, policyholders can reduce their premiums by selecting the “shared responsibility” option where they pay a quarter of the treatment costs up to their chosen personal level.

WPA will pay three-quarters of any treatment up to £1,000, £3,000 or £5,000 and then everything else on top. In return for the quarter of treatment costs they pay, policyholders will see their premiums drop by 30, 40 or 50 per cent respectively.

The not-for-profit provider is introducing the product following findings in research conducted recently which found nearly half of those with PMI would give up their cover if their premiums were to rise by 25 per cent in the future.

Flexible&#39s core product has standard cover including inpatient and outpatient treatment and additional benefits such as home nursing and private ambulance transport.

Policyholders can then choose to increase their cover to include specialist consultation and therapy care.

WPA chief executive Julian Stainton says: “We have found that when a customer buys health insurance that fits and shares responsibility for a small portion of the treatment costs, we can make the premiums significantly lower.”


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