Risk Clinic: Cutting PMI costs

Brian Walters, Regency Health There are a number of ways to reduce the cost of private medical insurance, but the starting point should always be a whole-of-market review on a like-for-like basis. Many PMI policyholders are insured on legacy plans that are no longer competitive, such that a comparable level of cover can very often be achieved for a significant premium saving. Of course, much depends on the client’s medical circumstances —an adverse medical history may preclude a move to a new insurer. If it does prove necessary to introduce some cost-control measures, there are three...