Medical care constitutes an essential element of human life, making medical insurance one of the most desirable benefits available to organizations, individuals and their families.
Medical Insurance is the process of transferring the cost of future incidences of ill health to a risk carrier in exchange for a specific smaller payment or premium.
MEDICAL INSURANCE PRODUCTS
1. SELF-FUNDED PRODUCTS
These are schemes whereby the client deposits funds with us and we pay any medical claims arising from the funds. The administration rules are drawn by the client and these rules are usually in line with their staff terms of employment.
Fund management strives to provide value for money in the following ways:-
- Quality – to ensure adequate and proper care to staff and their dependants in times of illness.
- Cost Effectiveness – to ensure cost containment measures that will not interrupt on quality of healthcare services provided.
- Flexibility – to meet varied health needs of staff in a way that is not restrictive.
- Equity – to provide equal and accessible healthcare to all staff members and their dependants.
Services provided include; Fund Management where the Client are assisted in creating rules regarding membership of the fund and assist in determining budget required to operate the fund.
Membership Management, It Includes use of registers and maintains all client staff and their dependants on the fund, Prepares membership cards to all members, provides a summary of the benefits and approved service providers. It also terminates or suspends membership according to rules of the fund.
Management Information, To maintains a data-warehouse of information for client’s reference, Provides employer with monthly utilization reports and Provides membership and claims information for budgetary purposes.
2. INTERNATIONAL MEDICAL INSURANCE
The need for first class International Health Insurance has never been greater. Are you looking for a medical insurance plan that you can use worldwide? One that will cover you if you live outside Kenya? This can be for expatriates, international students and individuals.
For those expatriates living and working abroad, accessing the right kind of health insurance cover can turn out to be a nightmare, with the cost of medical treatment often expensive and difficult to arrange particularly in an emergency this also applies to students.
For individuals willing to take international cover there is an added advantage in that they can access over five thousand hospitals world wide and can be treated anywhere. The prices of medical insurance vary worldwide and thus others tend to be more expensive.
3. CORPORATE / INDIVIDUAL MEDICAL INSURANCE
Corporate medical insurance targets organizations with a minimum of ten staff. Individuals can chose to purchase both the inpatient and outpatient or opt for the inpatient alone, other benefits that could accompany this are dental covers, optical cover, maternity cover and a last expense cover.
Medical insurance to me is a compulsory cover for all as it has major benefits that truly help in emergency circumstances.
Covers may be extended to cover ambulance covers, pre-existing conditions, critical conditions like cancer and many more.
This is a cover that will protect the insured and his family against any ill health and injury.