Morgan Price is the latest international private medical insurance providers to offer a full medical underwriting option.
Full medical underwriting is when providers use individual’s medical information to evaluate their eligibility for health insurance. The opposite of an underwritten policy is one with a moratorium. Under these policies coverage is approved immediately but claims are only paid following more detailed investigations. Moratorium policies allow insurers to deny payment for some claims (particularly those related to pre-existing conditions) outright.
Jon Carpenter of Morgan Price says, “Traditionally individual international business has been sold via the moratorium route as it is an immediate sell, but increasingly this is causing issues at the back end where customers expect fast claims turnarounds and payments. If a moratorium policy is being administered properly, then claims stage investigation is common, and this inevitably delays processing and payments while you track back through an expatriate’s medical history.”
DKV Globality, Bupa International and Aviva also provide options for full medical underwriting.