Rates DOWN!... Benefits UP!

Summer 2006 CSANews Issue 59  |  Posted date : May 28, 2007.Back to list

It's about time! Over the past two years, as our Canadian dollar has strengthened, Medipac has warily been passing on rate reductions to our best clients in the form of Loyalty Credits, Claims-free discounts and easier qualifications in our three underwriting classes. I say warily, because the U.S. medical system's ever-increasing costs and other foreign medical expenses are very high and unpredictable.

This year, however, we won almost all of the rate and benefit battles. We substantially reduced our very expensive air evacuation costs by approximately 30%, we struck even better deals with our hospitals and medical networks and we "requested" that Manulife reduce their costs, and they did. And you did your part, too, as our claims remained stable for the second year in a row. Thank you to everyone who helped to make these things possible.

Your Results:

  • 5% across-the-board premium rate reduction;
  • rate reduction for the "good" provinces;
  • Ages 75-79 age band – a further 5% rate reduction;
  • Claims-free discounts that are much easier to earn;
  • Substantially increased federal Superannuate Credits;
  • A free annual plan with the Superannuate Credit;
  • Great "Buy that you Need" Top-Up rates for teachers;
  • Top-Up fee reduced and, in some cases, eliminated;
  • Inflation protection increases of 20% to 75% on many benefi levels;
  • Reduced claim penalties; and
  • More highly trained medical staff, when you need them.

Based on our survey results, there are still a number of snowbirds who purchase other travel medical insurance plans. There are currently approximately 40 different insurance plans on the market and Medipac is, by far, the choice of most snowbirds and longer-term travellers. The balance (of the remaining policies) appears to be fairly evenly spread among the other competitors, with Blue Cross and CAA having slightly more subscribers than the other plans. As most of you know, the various plans out there change their provisions all too often; I would strongly caution you to read your non-Medipac plan very, very carefully this year. There have been changes made to many of the plans and most of these changes are not good.

The newer plans are particularly volatile and should be avoided. My guess is that most of these "other policy" decisions were based on price and the saving of a few dollars. When you compare these other plans with Medipac's program, in detail, you can then make the right purchase decision. We hope to be able to earn your business this year, and we especially look forward to serving our returning customers.

For those of you who do not purchase the Annual Add-On, or who need only a few days of top-up coverage, we have also included our Short-Term rates with our insurance package for your convenience. You have probably received your Early Bird application package by now, along with our letter outlining your discounts and credits.

Please call us if you have any questions or comments we have several supervisors available for those more-complicated situations. If you did not receive your package with the Medipac Insurance Guide, simply call us at 1-888-Medipac or 1-888-633-4722.

Remember the Early Bird deadline of August 11 and, in the meantime, we will fully compile your survey results for our next issue. Your many comments and suggestions were, and are, most appreciated. I have read about 1,600 written comments so far, and we are still receiving them on a daily basis. I truly enjoy this part of my job, thank you, and travel safely this summer.