Since creating their Advance plan, MSH China are now one of the largest providers of both individual and corporate medical insurance in the region.
Hong Kong (PRWEB) April 12, 2013
Globalsurance are pleased to report stable premium increases for its clients attached to MSH policies in China after the release of the insurer’s April 1st premium adjustments. While the 10.5% increase across all plans is in line with the global market average, coverage options for certain benefits have had to be adjusted in order to maintain premium stability for the future.
Since creating their Advance plan, MSH China are now one of the largest providers of both individual and corporate medical insurance in the region. Specifically designed for high net worth locals and expatriates in China, the Advance plan has already been a great success for MSH China but now, MSH have consulted with Globalsurance as to what changes should be made in order to mirror the benefits of more competitive international plans and find greater success worldwide.
One of the most notable changes made this year involved the adjustment of the overall maximum annual benefit which has now been extended to cover up to RMB 16M for the Higher International and Worldwide plans. The Outpatient Maximum benefit on these plans has also been extended to RMB 80,000 from RMB 60,000 and those suffering from chronic conditions will now be able to benefit from a benefit of RMB 200,000 per year as opposed to the previous RMB 500,000 lifetime limit.
In regard to maternity coverage, MSH China’s current Advance plan requires that two adults must be present and must both pay maternity rates in order to receive benefits. This feature is particularly beneficial in China where costs for maternity treatment can reach extortionate amounts. Previously, MSH China would cover 50% of maternity benefits after the routine limit had been exhausted but, after the April adjustments, this is no longer the case and once the RMB 68,000 limit has been reached, all further costs will have to paid for by the client.
Globalsurance clients can be pleased to know that MSH China worked very closely with Globalsurance regarding these benefit changes and that these developments were made with the client’s best interests at heart. Looking to the future, MSH China are searching for an external partner to process their plans for clients not residing in China. Clients can also be confident that with the experience and backing of MSH China’s parent company, MSH France, an existing access to an extensive network of international hospitals will make the move from local plans to international ones more successful and sustainable for the future.