Exeter Friendly Society has added an additional co-payment option on its Shared Care private medical insurance product.
The 10% option is available alongside the 25% and 50% options currently available.
All three options cap the member's contribution with the following maximums:
10% co-payment - Exeter pays 90% of any eligible claim and the member pays 10% (capped at £2,000 per year);
25% co-payment - Exeter pays 75% of any eligible claim and the member pays 25% (capped at £5,000 per year);
and 50% co-payment - Exeter pays 50% of any eligible claim and the member pays 50% (capped at £10,000 per year).
The three co-payment options can help to reduce premiums. Compared with opting for a self-pay or high excess plan a co-payment policy can prove to be cost effective.