New Bupa Select

Bupa will be launching a new and more flexible health insurance package, Bupa Select, for businesses taking out cover for more than 50 employees.

The new scheme which will launch on 1st December 2009, will enable employers to create a tailor-made, medical insurance package for their companies. At the centre of the package is a comprehensive core cover but other options include:

• Cash packages (enables employers to claim for eye care, glasses, prescription and dental charges)
• Different underwriting options
• Excess options
• Ability to exclude cancer or psychiatric cover
• Rolling excess
• Refund for diagnostics
• Family cash package
• Overseas employees
• Repatriation

Head of strategy and development at Bupa UK Health & Wellness, Fiona Harris, said:

'We know that many businesses are struggling in the current economic climate, but we also know how much they and their employees value their healthcare cover. Feedback from intermediaries has shown they need clarity of the benefits available.

'Following the introduction of our new operating system, SWIFT, we are now able to provide a more flexible PMI product to the whole of the experience-rated market, regardless of group size. Bupa Select makes it as easy as possible for clients to tailor their cover to ensure everyone receives the right healthcare benefits for them.'

The health insurance market has been under considerable stress during the recession and offering flexible products is providing consumers with more options whilst still allowing the insuers to keep business. As a further incentive Bupa are offering a 30% discount for those who sign up to the scheme before the 1st December 2009.