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Friday, 09 January 2009 |
Most of us are aware that private medical insurance does not cover ‘pre-existing’ conditions, but many of us do not fully appreciate the true implications until we come to make a claim.
When taking out private medical insurance is it vital to consider the underwriting that is employed.
This generally takes two basic forms: “Full Medical Underwriting ” and “Moratorium Underwriting ”.
What is the difference?
With “Full Medical Underwriting”, you know from the outset, precisely what is excluded from your policy.
With “Moratorium Underwriting”, your policy is underwritten at the point of claim. What this means is, that until you make a claim, you will have no idea exactly what medical conditions are excluded from your policy.
Why is this important?
In order to make an informed decision, we believe that you should know what your policy will and will not cover you for. With “Moratorium Underwriting” it is impossible to make such a decision, as you will have no way of knowing what conditions will be excluded, until you come to make a claim on the policy.
To be advised that a condition is not covered under a policy is traumatic enough, but even more so when you believed that it was.
What happens if you are diagnosed with an illness that requires treatment and are then advised that under the terms of your “Moratorium” you are not covered by the policy?
The ramifications of this may be obvious, but we feel they are worth pointing out:
(1) You would be faced with a very large medical bill. Would you be able to afford to pay such a bill? You could not afford to let your health suffer.
(2) You would be unable to return to the United Kingdom and receive free NHS treatment under the United Kingdom NHS qualifying residency rules.
(3) You could jeopardize your potential French Residency status, if you could not afford to pay for such treatment, by breaking the criterion of possessing “Adequate financial resources in order not become an unreasonable burden on the finances of the receiving State”.
In such circumstances, this could leave you and the French Health Authorities in a very difficult position.
It is for these reasons that we stress that you should always seriously consider when applying for private medical insurance in France doing it on a “Full Medical Underwriting” basis and that is why our Santé Totale policy was designed on that basis only.
Furthermore, with the general tightening of regulations, we can foresee a position in the future, where the French Authorities will not look kindly upon those policies that are underwritten on a “Moratorium” basis.
It is only a matter of time before such situations as outlined above will lead to the re-evaluation of “Moratorium” policies by the authorities.
We believe that, when looking at relocating to France and in considering private medical insurance, “Full Medical Underwriting” gives to a peace of mind and reassurance that is not found under “Moratorium” policies. You need to be aware of what you are covered for, and more importantly, what you are not covered for, and this will help you make a better informed decision regarding your financial provisions for the relocation.
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Last Updated ( Tuesday, 13 January 2009 )
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