AIG to launch Health Choice for SME's

AIG Direct already offer their HealthChoice private medical insurance policy to individuals but are set to offer it to small and medium sized companies as from September this year.

Health Choice is a policy which gives you a cash amount when you make a claim. This enables you to choose where, when and how you are treated and if you decide to be treated on the NHS you can keep the cash.

AIG have an arrangement with Healix Health Services who help you to arrange medical treatment. They also have a partnership with BMI Healthcare, so if you choose to have an operation there you can have a discounted rate.

HealthChoice health insurance has no excess and includes physiotherapy as standard which is not always the case with basic policies.

AIG Direct have been piloting a scheme with national intermediary firms Jelf Employee Benefits and Premier Choice Group and are set to launch their new company policy in September. The policy will be available to businesses with 2 - 50 employees and premiums will be paid either to the company itself or to the individuals who has made the claim.

The benefits of medical insurance policies that give you cash amounts are:

Cheaper premiums
Because the health insurance company is not arranging your care they can keep administration costs down and they can pass that saving on to you

Freedom
You have ultimate choice. You decide where and when you get treated.

Negotiate
If you are paying for medical treatment directly to a provider you can negotiate treatment costs. Any savings will stay in your pocket.

It's important to note however that cash for treatments are not paid until 90 days after treatment is approved. This is important to bare in mind as this type of policy is only useful to people who will be able to cover the cost of their treatments up front if this is necessary.

Not Covered
Apart from the usual health insurance exclusions it is worth noting that HealthChoice do not provide cover for the following:

Chemotherapy, radiotherapy or cryotherapy.
Diagnosis or treatment for mental or psychiatric conditions.
Anything other than £50 per night worth of hospital charges