The debate rattles on about just how the insurance industry is going to deal with the new legislation brought in to protect us from age discrimination.

The Equality Bill was introduced in April 24th 2009 to protect consumers against being treated poorly, or disadvantaged due to their age. Although the legislation is new, many providers have yet to grasp all aspects of the bill.

How does this impact upon your Health Insurance?

Virtually all insurers work on the basis of pricing based upon age and other risks, as you might expect, as you get older, the incidence of claims are higher, so premiums increase in line with this factor. Insurance companies need to be able to justify their position regarding this and where needed, justify their pricing to ensure it is performance related and not merely age related.

This does mean that you will be faced with a constantly increasing premium if no changes are made to your contract to off-set this pattern. In the UK, some insurers have embraced innovative ways of controlling these increases such as co-payment, hospital treatment plans, six week waiting plans and even healthcare deposit accounts.

International Health Insurance.

If you are living in a country other than that of origin, the need for health insurance is much greater. No state scheme to fall back on to fill any gaps means you are more dependants upon your private insurances than ever. However, be warned, as some policies are different to others…

The Equality Bill has been adopted across Europe, and as a result, most UK and European insurers are on top of the issue, however some contracts may look and feel like they are European in origin, but are in fact a front for providers outside the EU. So, don’t be fooled by the ‘European’ logo or the UK based sales office, your insurer might be much further away, and not prepared to cover you when you get older and need the benefits more.

We would advise anyone who is unsure of their insurer to check first. Do not leave it until the last minute ~ when they ask you to go elsewhere. The reason for checking now is simple, find a better policy. If your policy is effectively cancelled on you (although this will be dressed up as not-renewed), you are left to the mercy of the markets, as few insurers are prepared to offer continued terms when too old, or indeed when a medical history has been gathered over time. At this vulnerable time, you could have:

* An extensive medical history ~ which no one else will wish to cover.
* Ongoing medical treatment needs ~ could you afford to self-fund this?
* Having Health Insurance may be a pre-requisite of your being in another country; would your residency be in jeopardy?
* Already accrued medical expenses or hospital bills needing to be paid.

The details are as ever in the small print, but if unsure ask your broker or indeed insurer to clarify the position…