Tesco offers health insurance alongside burgers

12th January, 2007

Tesco is to move into the health insurance market with a new policy that it claims can be up to 32 per cent cheaper than comparable health insurance products on the market.

The supermarket giant is launching two levels of cover (core and premium) that will both offer in-patient and day-patient care. It will provide insurance protection for out-patient scans, cancer radiotherapy and chemotherapy. The premium cover will also provide £1,000 of additional out-patient benefits.

The health insurance policy involves no medical questions for people under 76. However, those who wish to take a medical before taking out this health insurance policy are able to do so. "If no medical is taken then Tesco Health Insurance will exclude pre-existing conditions from the last five years," Jeremy Sutton, head of savings and investments at Tesco explained.

The supermarket is also trumpeting the no claims discount for the health policy, although this has come in for criticism from other providers. Steve Flanagan, commercial director for BUPA Health Insurance, explained that the no claims bonus could "discourage some people from seeking early treatment which can't be good". However, he welcomed a product on the market that would make health insurance more widely available.

When choosing health insurance there are a number of key factors to look for, beyond price. While some policies pay health providers directly, with others it is necessary to claim back cash from the health insurance company after treatment has already been paid for. It is also necessary to check what conditions are and are not covered by the policy. For example, the Tesco Health Insurance policy does not cover HIV or AIDS treatments, pregnancy, mental illnesses or some chronic conditions.

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