Bracknell based YourHealth Plus launched into the medical insurance market in 2005, but has gone into administration after management changes and financial difficulties last year. The reason for the demise is not enough new sales and many customers not renewing their policies.
Most business customers have arranged cover elsewhere, but reports suggest that 150 individual YourHealth Plus customers remain unaware that the company has folded
The company did not offer conventional private medical insurance but a complex system of medical deposit accounts that companies and individuals built up with YourHealth Plus. The savings/insurance model meant that claims were to be paid out of the accounts, which were called “Health Funds”, while any unused balance “belonged” to the customer, as opposed to the insurer.
Your Health Plus was a new company offering an innovative but complex alternative to traditional private medical insurance.
The company was not an insurer or a bank, so used a range of banks and insurance companies for the financial and insurance elements of the offerings- The Health Fund and Surgical Treatment
Private medical insurance : News update: January 2007
