Bupa has announced it will no longer sell corporate private medical insurance (PMI) schemes which feature overall cost or time limits for cancer treatment.
Claimed by the healthcare group as an industry first, Bupa said experience has shown that limits mean that patients who claim on their policies can be left vulnerable at critical points in their treatment. Cancer treatment costs increased sharply in 2005 and 2006 due to the introduction of new drugs. In response the PMI market developed financial benefit caps and time limits to limit financial exposure for client businesses. Once employees reach their benefit ceiling they face the possibility of having to change their treatment mid-stream. The varying cost of cancer drugs also makes i...
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