Changes We’re Making To Health Insurance Policies Starting Or Renewing In 2024

Introduction

We’re pleased to share with you the changes we’re making to health insurance policies starting or renewing in 2024.

Headline changes include:

• New benefits for cancer treatment
• Higher limits for well-being benefits
• Revamped process for moratorium underwriting
• Chile, Costa Rica & India added to the 20% lifetime discount

These changes take effect for all existing members with a renewal date of 01 January 2024 or later, and all new members purchasing a health insurance policy with a start date of 01 January 2024 or later. Please note these changes do not apply to members in Hong Kong or the UAE.

Benefit changes

New benefit for genetic testing of cancer (Silver & Gold plans)

On the Silver and Gold plans, we’ll pay for genetic tests for BRCA1 and BRCA2 genes (for breast, ovarian, prostate, and pancreatic cancer) and familial adenomatous polyposis (for colorectal cancer).

New benefit for preventive cancer treatment (Silver & Gold plans)

On the Silver and Gold plans, we’ll pay for mastectomy, oophorectomy, and colectomy surgery—provided you’ve been referred by a doctor and genetic testing has established the presence of a hereditary cancer syndrome.

We clarified the wordings for the maternity benefits (all plans)

We’ve updated the wordings for the benefits of the maternity costs section. Here are the main changes:

• We’ve made it clearer that the complications of childbirth benefit covers the treatment of a newborn conceived by assisted reproduction where the birth was within 36 weeks of conception.
• We’ve made it clear that we cover termination of pregnancy where there is a threat to the mother’s health and provided the termination takes place in a medical facility. We will also cover any complications following the termination of pregnancy that takes place in a medical facility.
• For groups, all caesarean sections are covered by the routine maternity and routine care of newborns benefit
• If you have a Gold plan and your childbirth necessitates an emergency surgical procedure, you can now use the complications of childbirth benefit to top up the routine maternity care and routine care of newborns benefit for things like surgeons’ fees and additional accommodation charges.

Increased limits for the well-being benefits (Silver & Gold plans)

On the Silver and Gold plans, we’ve increased the limits for the well-being benefits for adults.

Increased the benefit limits for adult vaccinations (Silver & Gold plans)

On the Silver and Gold plans, we’ve increased the limits for vaccinations for adults. We’ve also made it clearer which vaccinations we’ll cover.

Increased the limits for the well-child benefit (Silver & Gold plans)

On the Silver and Gold plans, we’ve increased the limits for the well-child benefit.

Changes to moratorium underwriting

We’re changing the way we sell, onboard, and administer moratorium underwriting for both individuals and groups.

Changes for individuals

• We’re removing the health questions from the moratorium application form for new applicants only.
• We’re moving from 5:2 to 2:2. This means members can qualify for cover for pre-existing medical conditions after only 2 years of not having treatment.
• Applicants can only choose moratorium underwriting if the following conditions are met:
  • applicant is aged 39 or under;
  • applicant has selected a Bronze or Silver plan;
  • applicant has selected an excess of US$250 per annum, US$1,000 per annum, or US$2,500 per annum; and
  • applicant has not selected any optional benefits (except Dental Basic or the private room upgrade).

Changes for groups

• We’re removing the health questions from the moratorium application form for new applicants only.

Changes to terms & conditions in the plan agreements

We’ve changed, added, or removed the following terms & conditions in the plan agreement for your new policy.

We’re using the term ‘coverage zone’ instead of ‘area of cover’

Previously, we used the term ‘area of cover’ to describe the geographical limits of your cover under your plan. We’re now using the term ‘coverage zone’.

We’re using the term ‘policy year’ instead of ‘period of cover’

Previously, we used the term ‘period of cover’ to describe the 12-month duration of your health insurance policy. We’re now using the term ‘policy year’.

We’re using the term ‘member’ instead of ‘insured person’

Previously, we used the term ‘insured person’ to describe people insured on your health insurance policy. We’re now using the term ‘member’.

Checking on children in full-time education

If you have a child on your policy who’s aged 21 or older and in full-time education, we’ll contact you at every policy renewal to verify the child is still in full-time education.

Change to rules on lifetime discounts when policyholder moves country

If a policyholder moves to a country where we’re not currently offering the lifetime discount, the policy will lose the lifetime discount.

Update to definition of country of residence

We’ve updated the definition for ‘country of residence’ to give us scope to reclassify a member’s country of residence to the country where they regularly receive medical treatment. We’ll use this reclassified country of residence to calculate renewal premiums.

T&Cs for the no-claims incentive

We’ve removed the T&Cs for the no-claims incentive and added them to the certificate of insurance of those members who still enjoy the no-claims incentive.

Update on our pricing model

Average premium inflation

In previous years, we published a percentage figure for average premium inflation. We’re not publishing such a figure this year. That’s not because premium inflation is particularly high this year and we’re trying to hide it. Rather, publishing a single, average figure for all members worldwide has caused a great deal of confusion in years gone by. As our pricing model has become more and more complex, it’s no longer feasible to publish a single, worldwide, average figure for premium inflation.

Pricing changes

Base rates—We’ve applied an increase to account for medical inflation to our age base rates and our base rates for optional benefits.

No-claims incentive—Members with the no-claims incentive have enjoyed protection from age-related premium increases on each occasion they’ve renewed their policy. We’re changing the way the no-claim incentive works to make sure we maintain sustainable and fair pricing for all our members. If a member’s date of entry was before 01 January 1999, we’ve used their age at their renewal date in 1999, plus four years, to calculate their renewal premium. If their date of entry was after 31 December 1998, (but before 01 January 2007), we’ve used their age at their date of entry, plus four years, to calculate their renewal premium. Members can see full information about the changes we’ve made to the no-claim incentive on their renewal invitation and certificate of insurance, which will be issued when they renew their policy.