Group Health Insurance Contracts
Many health insurance products for groups and companies will usually offer coverage based on Full Medical Underwriting (FMU) or Medical History Disregarded (MHD) contracts.
However, there are a range of alternative contract types which are starting to emerge in force across Asia, Europe and the Americas which can help your business to provide even more comprehensive protection to employees while reducing overall costs.
Medical History Disregarded
Briefly mentioned in relation to pre-existing condition coverage a Medical History Disregarded, or MHD policy will allow for the coverage of all pre-existing conditions present within the group; even if those conditions would normally be otherwise excluded from the plan.
Normally only available to groups with 5 or more members an MHD policy will usually be more expensive than an FMU contract due to the fact that all pre-existing conditions will be covered under the plan – meaning that there is a significantly higher likelihood of a claim occurring, consequently leading to the higher cost of the plan.
MHD group health insurance contracts will normally start as community rated policies, but will switch to experience rated plans with larger groups. This means that although pre-existing conditions can be covered, a larger group with an MHD policy will pay for the privilege of that coverage. This is usually only applied to groups of more than 100 individuals, but is comparable to the idea of “premium loading” which occurs in relation to individual and family health insurance products.
Learn More About Group Health Insurance Contracts
If you would like to learn more about the different contracts available under group health insurance plans from CCW, or if you would like to arrange a free no-risk no-obligation with a CCW Global advisor, please Contact Us Today.
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