The private medical insurance (PMI) book run by CS Healthcare is to be transferred to Bupa, Health Insurance & Protection understands.
The proposed transition means that the healthcare of the members of CS Healthcare – a friendly society with approximately 18,500 customers that was established to provide health insurance cover for members of the UK Civil Service – will now be managed by Britain’s largest PMI provider.
A spokesman for Bupa told Health Insurance & Protection that the proposed transfer offers “a number of benefits” to CS Healthcare’s members.
He said: “Bupa is well known for the standards of care it provides and has a strong commitment to maintain the highest level of customer service in the industry.
“Bupa’s strong financial position and presence in the health insurance market offers confidence in its sustainability and the ability to deliver affordable premiums over the long-term.”
If the transfer is approved by members, following their first or second renewal that will have “greater access to even more health and wellbeing support”, including Bupa’s cancer care support, the spokesman said.
The spokesman said that over the last few years, CS Healthcare has been impacted by rising healthcare and administration costs and increased costs of regulatory compliance. This has led to premiums increasing and more customers leaving CS Healthcare than joining, impacting sustainability.
Terms of the deal remain undisclosed but the transfer is due to complete towards the end of 2020.