Standard Life Healthcare has introduced a ‘guided option' to its private medical insurance products which it says will cut the cost of comprehensive cover.
The ‘guided option’ introduces a new treatment path which uses a Bupa or Capio hospital to manage a patient’s treatment from beginning to end, including making all the arrangements and choosing an appropriate consultant.
Standard Life says this means hospitals can make better use of their resources so they can reduce their charges and produce a saving which can be passed onto customers.
It claims the option will save customers 15% off their policies and, if combined with other Standard Life Healthcare features such as its no claims discount, the cost of comprehensive cover could be cut by 55%.
The option will be offered through 47 Bupa and Capio hospitals.
Stephen Walker, chairman of the Association of Medical Insurance Intermediaries, says: “This is a positive move by Standard Life to address the affordability factor and offer more choice without compromising on benefits, making their policies more accessible at a time when medical insurance for many people is more of a necessity than ever before.”
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