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Health Insurance Daily - Viewpoint: My PMI experience

By Paul Avis 15 August 2017.

Is this weird? A group risk specialist writing on private medical insurance! I struggle to find any CPD (Continuing Professional Development) points to do these days and, as I am surrounded by a great technical team, do not have any problems keeping up with group risk and wherever possible Canada Life provides thought leadership. But once a year I am poacher turned gamekeeper as I sit alongside my HR Team when they assess the annual PMI renewal. And so, in the spirit of cooperation between risk and healthcare providers, what are my technical, customer and market development observations?

First, trusts (healthcare or master) worry me. The implications are that the default retirement age (DRA) exemption will not apply. I have seen a general opinion, probably needing independent specialist advice by providers or even employers, of:

The DRA exemption's application is limited.  The Employment Equality (Repeal of Retirement Age Provisions) Regulations 2011 allow employers to withdraw or refuse to offer “insurance or a financial related service” to employees aged 65 or over (or over state pension age if greater).  Self-insured, or self-funded trust benefits won't qualify.

Source: Gowling

Are employers aware that if someone remains in service purely to continue PMI scheme membership, possibly until they die, there may be no insurance in place? Group advisers have not embraced all the hard work that GRiD did to gain the exemption. 

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