During the course of its study in the private
healthcare market, the Office of Fair Trading worked closely with the
Department of Health, the Financial Services Authority (FSA) and a number of
health sector bodies.
The OFT raised concerns during the study, so the
FSA will work with the Association of British Insurers (ABI) and health
insurance providers to make it clearer for patients that they may face extra
shortfall payments when there are limits which apply to the amount payable
under their insurance policies.
Nick Starling of the ABI says, “ We agree with
the concerns raised on transparency and support consultants clearly informing
patients on treatment options and costs. Private medical insurers are committed
to ensuring that customers clearly understand the cover they provide and will
continue to work with the FSA to achieve this.”
Private medical insurance news: 23 December 2011