The Association of Medical Insurance
Intermediaries (AMII) has expressed its concerns at Defaqto’s new star ratings
for private medical insurance.
Andrew Tripp of AMII says. “Our members, all
specialist independent healthcare intermediaries with considerable expertise in
PMI, are bemused by Defaqto’s ranking of PMI products. For example, we do not
understand how a budget plan with little out-patient cover can be given the
same 3 stars as other full out-patient products, it does not make sense. PMI is
an extremely complex product. Type of cover, fully comprehensive versus
policies with exclusions, cover for cancer treatment, levels of excess,
pre-existing conditions, hospital choice are just a few of the factors that
need consideration. Introducing simple star ratings to PMI products is highly
dangerous and not in the best interests of consumers.”
Star ratings do not assess the price of a
product. Insurers pay Defaqto for star ratings, and as the company says to
insurers on its website. “You can actively use the star ratings to reinforce the
features and benefits your products have.”
Private medical insurance news: 10 February 2012
