Shared Responsibility Explained
You agree to pay a set percentage of any claim and as a result slice your premiums significantly.
It´s similar to an excess but better because you can benefit from even the smallest of claims. You agree to pay up to a certain monetary limit each year - say, a limit of £1,000. Because you are sharing the costs with the health insurer, it pays 75% of the claim and you pay the remaining 25%. But if your claim is a large one and your 25% would come to more than the £1,000 you have agreed to pay, you won´t have to pay any amount on top of this - your costs will always be contained at £1,000 for that year. So, basically, when you´ve paid the ´excess´ the insurer will pick up all the bills after that.
For example...
Order of
treatment |
Claimed
treatment |
Policyholder pays
(with an annual limit of £1,000) |
WPA pay |
| Specialist |
£100.00 |
£25.00 |
£75.00 |
| Tests |
£400.00 |
£100.00 |
£300.00 |
| Hospital charges |
£3,500.00 |
£875.00 |
£2,625.00 |
The policyholder has now reached their Shared
Responsibility limit of £1,000.
WPA will pay 100% of eligible claims until the next
policy year.
|
| Specialist |
£100.00 |
-- |
£100.00 |
| Therapy |
£200.00 |
-- |
£200.00 |
| Total |
£4,300.00 |
£1,000.00 |
£3,300.00 |
|
|
Please note that the example assumes that the Options chosen allow for the types of treatment illustrated.
