Leaving your Company’s Private Medical Insurance Scheme?


Leaving your Company’s Private Medical Insurance Scheme?


Leaving a job and transitioning away from your company’s private medical insurance (PMI) scheme can be complex. Here are answers to frequently asked questions about what happens to your PMI after leaving a job:

1. What happens with my company’s private medical insurance after leaving a job?

  • In most cases, your company-provided health insurance will cease after leaving your job.
  • Any new treatment after your departure may no longer be eligible for coverage under your company’s PMI scheme.

2. Can I continue my private medical insurance coverage after leaving a job?

  • You can continue your private medical insurance coverage by switching to a new employer’s scheme or moving to an individual personal medical insurance plan.
  • Continuing with a new employer’s scheme may depend on underwriting methods, claims history, and the new employer’s policies.
  • Moving to an individual private medical insurance plan allows you to manage your policy directly and customize your coverage.

3. What must I know about my private medical insurance scheme before leaving a job?

  • Review the specifics of your company’s PMI scheme, including benefits, coverage, and exclusions.
  • Familiarize yourself with the details of your policy, such as inpatient, day-patient, outpatient, alternative therapies, and dental treatment coverage.
  • Understand your claims history and the types of benefits you have claimed under your company’s PMI.

4. Will my health insurance benefits change after leaving a job?

  • The level of your health insurance benefits may change depending on your new policy.
  • Inpatient and day-patient treatment coverage often remains the same across policies, but additional benefits may vary.
  • If you switch to another company’s PMI scheme, your employer typically chooses your new benefits, which may not be customizable.
  • Moving to an individual plan gives you more control over your benefits, allowing you to modify them to suit your needs.

5. How much does private medical insurance cost after leaving a job?

  • Individual private medical insurance costs vary based on factors like age, claims history, location, and policy coverage.
  • Policy options, such as comprehensive coverage and excess choices, can influence premiums.
  • Be prepared to pay premiums directly to the insurance provider, as your employer will no longer cover them.

6. How do I move to an individual plan after leaving a company PMI scheme?

  • To move to an individual health insurance plan, shop around and compare different policies.
  • Seek guidance from independent health insurance advisers who can provide personalized advice based on your needs and circumstances.
  • Request quotes and explore options for the most suitable and cost-effective individual private medical insurance plan.

Navigating the transition from a company-provided PMI to an individual plan requires careful consideration of your needs and coverage options. Consulting with insurance experts can help you make informed decisions.

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