Proposed transfer will see Bupa take on CS Healthcare book of business towards end of 2020
Bupa and CS Healthcare have today announced a proposed transfer of CS Healthcare's members and business to Bupa.
The agreement is subject to regulatory approval, clearance from competition authorities and agreement from CS Healthcare members at its AGM in September, and is expected to complete towards the end of 2020.
Established in 1929, CS Healthcare is a friendly society with approximately 18,500 members that provides health insurance cover to members of the UK civil service.
The proposed transfer, if approved following first or second policy renewals, will see CS Healthcare members receive access to Bupa health and wellbeing support services, such as cancer and cardiac care, its digital GP service and direct access to treatment for a wide range of conditions, as well as mental health cover.
Over the last few years, CS Healthcare has been impacted by rising healthcare and administration costs and increased costs of regulatory compliance. This has led to premiums increasing and more customers leaving CS Healthcare than joining, impacting sustainability.
Alex Perry, CEO, Bupa Insurance said: "We're very pleased that CS Healthcare has chosen Bupa to care for its members into the future. Bupa has been in discussions with the CS Healthcare Board and management for some time, and it's clear that our organisations share similar values and cultures, with a strong long-term commitment to putting customers first.
"We work hard to deliver the best healthcare for our customers. The transfer will give CS Healthcare members access to Bupa's leading health expertise and pioneering support services to help them stay in control of their physical and mental health, including our enhanced range of healthcare services that can be accessed from home."
Tom Gidaracos, chief executive, CS Healthcare said: "We are committed to ensuring our members have assured medical insurance and continuity of cover for their futures.
"Changes in the private medical insurance market over the past two decades, as well as increased regulation and costs in the insurance industry mean that CS Healthcare's members would benefit from joining a larger organisation.
"Bupa will provide added security, continuity of cover and enhanced benefits to CS Healthcare members. As an organisation with no shareholders, and a similar ethos, we're confident it's the right home for our members and their future."
Bupa UK Insurance recently expanded its remote services available through its Bupa From Home offering, to include cardiac assessment and cancer treatment, alongside round-the-clock advice from nurses, GP consultations, physios and mental health therapists.