Ulster Society private medical scheme FAQ

2022/23 renewal

All members will shortly receive the pre-renewal letter from Towergate Health & Protection in relation to the renewal of the PHC plan, which is due to take place on 1 June for most members. They will receive their renewal invitation directly from PHC on or around 19 April 2022. Towergate Health & Protection will be sending a weekly spreadsheet to PHC showing which clients have confirmed renewal, at that point PHC will send the confirmed renewal documentation and invoice to the members.

Please note that the structure of the scheme changed in 2019 as all members will have appointed Towergate Health & Protection to their individual plan to continue to receive advice and support from us their broker.

As each member has moved to an individual PHC policy, everyone has been allocated an advisor within the Towergate Health & Protection Consumer team who will contact them prior to the renewal to discuss their existing cover and offer a review of the market on an individual basis.

To help answer the most common queries that we are receiving from members we have listed a summary of the questions that we are receiving below.

What will happen at my renewal for 2022?

An advisor will contact each member individually to discuss their renewal. Towergate are one of the largest private medical insurance (PMI) brokers in the UK. They are an independent intermediary and will provide advice and recommendations for the renewal of the individual members plan, they will also support members with the administration of their policy.

As all members are on individual plans, will this mean that the group arrangement is no longer in place?

Although the structure of the scheme is changing, the group arrangement will continue to be in place, in so much as your renewal premium will be determined by the claim’s performance of the Group. Each policy will be reviewed on an individual basis based on the requirements of the individual rather than the group.

Will my individual claims experience impact my renewal premium?

No, the pooled arrangement offers the same security as before. The risk of the scheme is spread across the membership. If you have a high claiming year, you will not receive a higher renewal premium over someone that hasn’t used the policy. The claims of the whole group will be taken into consideration when pricing the renewal premiums.

How are my renewal premiums calculated?

At renewal, your renewal premium will consider the following:

1. Medical Inflation
2. Age band increases, each year you see an increase for being a year older.
3. A claims adjustment will then be applied depending on the group’s claim performance.

Can I negotiate a discount at renewal?

The only way you can change your premium at renewal is to amend either a) the cover of your plan or b) the excess. As the premiums are based on the performance of the group, individual discounts cannot be given.

Can I change my benefit levels and excess as before?

Yes, our team of specialist advisors at Towergate can help you with any quotes that you need and will be contacting you prior to the renewal to discuss these options.

When will I receive my renewal information?

The renewal terms will be issued by PHC direct to the individual members, PHC have confirmed they will be aiming to send these terms by the end of week commencing 18 April. Towergate Health & Protection have received a list of premiums for the 2022 renewal.

Will new members be able to join the plan?

Yes, to find out more, please contact Towergate Health & Protection by calling 0800 389 7724 or emailing haps-charteredaccountantsie@towergate.co.uk

If I have any further questions who should I speak to?

Each member has been sent an email or letter from Towergate Health & Protection with a list of advisors contact names and numbers, please contact them directly and they will be able to answer any queries you have. Alternatively, if you contact PHC directly they will refer your query to an advisor at Towergate Health & Protection.