Health insurer announces it will pay second rebate to customers before the end of the month
Following its initial rebate in April, WPA has confirmed its second rebate to reflect the reduction in claims as a result of Covid-19.
It is understood that the payment will be similar to the amount paid in April, which totalled £3.7m across all its customers. At the time, the health insurer WPA said this amounted to approximately 40% of a monthly premium, rounded to the nearest £5, for its retail and SME customers.
Announced on 22 June and paid by the end of the month, WPA said the rebate is a result of reduced access to NHS hospitals following the deal signed with the private sector in March and due to finish at the end of June. It is, however, expected the NHS deal will be extended into a second contract.
Nathan Irwin, WPA's chief executive, said: "The lockdown period from March to June restricted healthcare in both the NHS and private sectors. This meant that customers with clinically urgent requirements were still able to access care, but less serious procedures were postponed. To reflect the reduced usage of WPA policies, we provided a first premium rebate in April and have announced a second rebate will be paid to customers by the end of June."
WPA said it believes that the availability of private facilities will vary by hospital and by region over the coming weeks, so it is working with the private hospital networks to facilitate access for customers.
WPA also confirmed that Covid-19 antigen tests will be covered where they are required as part of a treatment plan.
Irwin said: "Across all of our customers, the April payment totalled £3.7m and this latest payment will be similar. With lockdown restrictions easing and private hospitals increasing the number of routine procedures, we expect there to be a significant backlog of postponed treatments and claims will begin to rise quickly. We remain committed to not profiting from this pandemic and will observe claims levels over the coming months before determining whether any further rebates are appropriate."
Includes cardiac assessment and cancer treatment
‘Immensely proud moment’
Entries open for intermediaries
Health insurer added to Starling Marketplace