Renewal of your policy and renewal conditions

Renewal conditions are send approximately 2 months before the renewal date. During this 2 months period, you – as the policyholder – have time to:

  • carefully read the new conditions,
  • study all eventual changes and then
  • make a decision to (1) renew or (2) cancel your policy.

To define renewal conditions, Insurers / Companies take into account the following information

Renewal conditions

Medical inflation

Medical inflation corresponds to the increase of medical fees and prices. Examples: consultation fees, hospitalisation bills, medical drugs costs… This increase will automatically  increase the amount of total claims reimbursed by the Insurer. Medical inflation varies from one country to another. There is no specific data available for expatriates. Therefore, many Insurers take into consideration data such as TW’s reports.

Renewal conditions⇒ Medical inflation and its impact on international insurances premiums

Renewal conditions

Basic coverage 

For Top-Up plans – to La Caisse des Français de l’Etranger (French), members will have to consider

  • on one side, the increase managed by CFE and,
  • on the other side, the one used by the Insurer / Company for the Top-Up plan.

Renewal conditions

Technical results

Individual policies are mutualized within a group. Sub groups are considered if special rates apply. Example: Zone 2.  

The ratio between claims / net premiums can be positive, negative or balanced. When the ratio is positive, the increase can be lower than the medical inflation. When the technical results are negative or balanced, then premiums need to be adjusted. 

 

Therefore, the best way to limit the increase of premiums is to priorize cost containment.

Practically speaking, this means:

  • take care of your health (food, sport, …)
  • select public hospital, free medication.. when possible
  • visit practionners which belong to the network when possible (rates are negotiated)
  • submit first your claims to the local primary insurance,
  • buy only required the number of medecines,
  •  ask for an estimate before buying new glasses,
  • rent your medical equipment instead of buying it,
  • compare and challenge the cost of your GP, specialist, …
  • require support to your claims administrator in case of maternity
  • …

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Frequency of payment of your premium 

No surcharge apply with Indigo Expat WeCare and Indigo Expat OnePack if you pay half-yearly, quarterly or monthly. At renewal, you can revise your frequency of payment.

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Insurance tax 

In certain countries, tax apply on insurance policies. These taxes vary and are added to your invoice. From time to time, your country of expatriation can decide to implement such a tax, or new regulations (ex: Obamacare, Dubai), or review the % / amount of tax.

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Premiums

Premiums are expressed by age. Therefore, keep in mind that your premium will also be adjusted according to your age (i.e. will increase to tka einto consideration the risk increase for the Insurer).

 

Renewal conditions

Pay attention to the local regulation

Please note that subscribing to an international health insurance does not free you from the local regulations. If you are eligible to contribute to a local health system, make sure that you are compliant. Otherwise, you may be subject to paying a tax levy.