WPA launches insurance plan which reduces premiums

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Western Provident Association (WPA) has launched a new health insurance plan, Flexible Health, which...

Western Provident Association (WPA) has launched a new health insurance plan, Flexible Health, which it claims could reduce premiums by up to 50%.

Research suggests people are avoiding health insurance because it is too expensive. According to market research group NOP, nearly half those with private health insurance will give it up if their premiums rise by 25%. The report said at the present rate of premium inflation this target will be reached in two and a half years.

The new plan's premium reduction comes through a 'shared responsibility' option, based on the French national healthcare system, under which patients pay for a quarter of the cost of treatment themselves.

Flexible Health subscribers can opt to pay for 25% of a medical bill, up to an annual personal limit of £1,000, £3,000 or £5,000. Having reached the annual limit, WPA will pay 100% of further bills. This option is expected to reduce premiums by 30%, 40% or 50% respectively.

In another effort to control costs, the policy is in three parts, so customers can tailor their cover.

Julian Stainton, chief executive of WPA, said: 'Flexible Health allows everyone to tailor the cover to suit their needs, and not pay for insurance they are not going to use. We have found that when a customer shares responsibility for a proportion of the treatment, we can make the premiums lower.'



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