THE SPECIALIST MEDICAL HEALTHCARE INSURANCE AND SHORTFALL PROTECTION PLAN

DESIGNED TO GENERATE SAVINGS ON YOUR group HEALTHCARE PREMIUMS

REDUCE YOUR MEDICAL INSURANCE PREMIUMS

You introduce (or increase) an excess within your existing group healthcare policy. You will receive a discount from your current insurer.

We then provide an insurance policy that reimburses the cost of the excess at point of claim (as well as covering shortfalls up to £500).

The result in the vast majority of cases is a net saving, lower P11D rate and enhanced shortfall protection cover.

Medex Protect - Specialist Medical Healthcare Insurance & Protection Plan
WHAT’S AN EXCESS

Most of us have an excess on our insurance policies. The excess is the amount you have to pay in the event of a claim. In general, the larger your excess is the lower your insurance premium will be (because of the discounts offered by the insurance company).

Medex Protect - Specialist Medical Healthcare Insurance & Protection Plan
HOW IT WORKS

For example, if you have a £250 excess on your Group Medical Insurance policy and you have a claim for £1000, you are liable for the first £250 of the claim and the insurance company pays £750.
Your medical excess and shortfall insurance policy is designed to reimburse you for the £250 excess you were charged.

Medex Protect - Specialist Medical Healthcare Insurance & Protection Plan
WHAT’S A SHORTFALL

Shortfalls arise when there is a difference between the level of reimbursement that insurance providers are prepared to pay and the fees consultants and hospitals charge. It is your responsibility as the patient to pay the shortfall. Your medical excess and shortfall insurance policy is designed to reimburse any shortfall up to the policy limits.

PAYS PMI EXCESS UP TO £500 PLUS AN ADDITIONAL £500 FOR SHORTFALLS

REDUCE YOUR MEDICAL PREMIUMS

As Medical Insurance premiums continue to rise and challenge budgets, introducing or increasing an excess will reduce your premiums. Insure your excess & have additional protection in the event of a policy shortfall with the specialist medical excess and shortfall protection company, Medex Protect.

Medex Protect can offer an intelligent and highly effective vehicle for Company Funded Healthcare Schemes.

Just some of the many benefits includes:

Potential for a reduction in net cost

Enhance benefits with the Shortfall Protection benefit

Reduce P11D Liability for Employees

Simplify the Admin process – Employees do not need to be out of pocket, as we will settle the excess payment directly with the provider 

A simple, cost effective method to realise savings in your Private Medical Insurance Costs, without the hassle of constantly changing providers.

INTERMEDIARIES

insurance excess protection product for insurance brokers

Medex Protect is a revolutionary new add-on policy that your clients will appreciate. It refunds the excess they pay if and when they make a claim on their medical insurance policy and, it even provides reimbursement (up to policy limits) for shortfalls – providing that little extra protection and peace of mind; a small but significant add-on that will give you the edge over the competition.

Differentiate your services by offering something extra

Introducing your clients to such an innovative and exciting new product like Medex Protect Insurance is a great way to show your clients that you’re actively seeking solutions to the funding challenges that they face today.

It is the perfect way to show you’re ahead of the game – offering them something that is both innovative and beneficial for them.

Access to a broader range of policies

If your clients are put off by the idea of paying an excess – particularly if it is a large one – Excess Insurance can offer a robust solution to this issue. The stand alone Medical Excess and Shortfall Insurance works harmoniously alongside a Group Medical Insurance Policy and simplifies the process of indemnifying this excess liability, it really couldn’t be simpler.

Medex Protect is a simple product that does “exactly what it says on the tin”. Selling it couldn’t be easier; simply fill out an application form to add Excess Insurance when your clients renew or take out a new policy.

Medex Protect is an excellent way of retaining clients and encouraging new sales. The information set out above is just the tip of the iceberg when it comes to explaining why our product is the perfect accessory for today’s intermediaries.

For more information on Medex Protect Insurance Policies please call our Broker Hotline on 0800 787 9304

ABOUT US

THE DIRECTORS OF MEDEX PROTECT LIMITED HAVE BEEN WORKING AT A SENIOR LEVEL WITHIN THE MEDICAL INSURANCE SECTOR FOR OVER 40 YEARS
Chief Executive Paul Shires MBA CDir FIoD CertPFS
Paul has over 30 years financial services experience. For almost 15 years, Paul has held Executive positions at Health Insurance companies and is currently on the Board of Health Shield Friendly Society Ltd. He has vast experience managing commercial relationships in the Health Insurance industry, including both clinical and distribution partnerships. Paul has worked in Australia, North America, Asia and across Europe, reviewing private and public health funding systems. Paul was voted in by industry colleagues and served a term as a committee member of the Association of Medical Insurers and Intermediaries
Paul Shires
Managing Director Maire O’Riordan ACMA BCOM

Máire has over 25 years financial services industry experience, most of which has been spent within the Health Insurance sector. A Bachelor of Commerce and an Associate Chartered Management Accountant, Máire has a breadth of experience in senior roles responsible for propositions, commercial finance, underwriting and strategy.

Medex Protect, Medical Excess and Shortfall Insurance is provided by Medex Protect Limited, which is authorised and regulated by the Financial Conduct Authority (FCA Ref Number: 735475). Medex Protect Limited is both a subsidiary of, and underwritten by Health Shield Friendly Society Limited. Health Shield Friendly Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Medex Protect Limited is registered in England – Company Registration Number 8792006. Registered Office: Electra Way, Crewe Business Park, Crewe, CW1 6HS

Please contact us at admin@medexprotect.co.uk if you require a copy of our Target Market Statements

CONTACT US

WE HAVE PROFESSIONALS ON HAND TO HELP YOU

Medex Protect Limited
Health Shield
Electra Way
Crewe Business Park
Crewe, Cheshire
CW1 6HS

©2024 Medex Protect. MEDEX PROTECT LIMITED IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY – FRN 735475