Are you nearing retirement and concerned about how to continue your private health insurance coverage? It’s common for company health insurance policies to terminate once you leave the company. However, your insurance provider will likely offer you the option to transfer your coverage to an individual plan.
According to a recent survey conducted by Winfield & Smith Insurance Brokers, 80% of retirees reported that the premium quoted for moving from a company scheme to an individual plan was unaffordable. Therefore, it’s essential to determine what’s important to you when it comes to your coverage. Do you have specific hospitals in mind for the treatment, or would you consider adding an excess?
It’s a wise idea to shop around or speak with a broker such as Winfield & Smith Insurance Brokers. As experts in the private medical insurance market, we know it inside and out. By working with us, you can save time and potentially access discounts unavailable elsewhere. Even if you have a pre-existing condition or pending treatment, it’s still worth reviewing your options. If we can’t switch you to another insurer, we can negotiate a lower premium on your behalf.
If you’re leaving a company health insurance scheme and would like guidance on transferring to an individual plan, reach out to us today by filling out our quote enquiry form.