The Rbi Difference – Take Control

by admin on October 1, 2012

take control of your healthcare budget

 

Rbi Premium was born out of years of experience working within the framework of the Private Medical insurance Industry, and was conceived as an alternative to the traditional medical insurance offerings available in the marketplace today.

Simply put, the rationale behind most current-day Medical and Expat coverage is flawed, and ignores the primary reason for medical cover which, ideally, should seen purely as a hedge against emergencies and unforeseen circumstances. Most people seek cover for peace of mind – they want to be secure in knowledge that should tragedy strike they are prepared for the eventuality.

The private medical insurance industry in general seems to have lost sight of this primary motivation for the purchase of cover, providing instead for their clients a sort of all-inclusive medical expense account that encourages all medical claims regardless of the severity of the ailment or the urgency of the need for treatment. The result is an increasing number of small claims, often well within the budgets of the claimants. This increase in claims in turn results in an increase in overheads and administration costs for the insurer which often far exceed the cost of the actual treatment.

These costs are, of course, passed back to the customer.

While Rbi does provide 100% cover for all legitimate medical issues, we rely upon the discretion of our members to determine what exactly constitutes an emergency expense. To further encourage this discretion, we offer, dependent on your membership type, no-claims bonuses, or claims allowances and savings schemes as a reward for contributing to keeping overheads and administration costs down.

Because Rbi Premium operates a private trust facility, we are able to pass the saving back to our members and limit membership cost increases in line with the actual rate of inflation, medical or otherwise, as opposed to costs incurred by organizational bloat and mismanagement.

If taking control of you and your family’s medical costs appeals to you, Rbi Premium has the answe

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Healthcare Spending vs Premium Increases

by admin on August 21, 2012

The following 2 articles clearly illustrate a disturbing trend in the cost of healthcare vs healthcare spending worldwide. The first article, One Frightening Statistic on Small Business Health Insurance shows clearly that, in the US, “since 1999 the average cost of employee health insurance premiums (for family coverage) has risen 84 percent in inflation adjusted terms (148 percent in nominal terms).”

Annual small business healthcare premium

The second article, Health-care spending, from the Economist, shows an entirely different trend indicating that in the US and, in fact most countries across the globe, the actual amount spent on healthcare has increased only by a “a real annual average of 4.8% between 2000 and 2009”, with numbers in the US showing an increase of only 4.2%.

global healthcare spendin

The disparity between spending and premium increases clearly displays the faults inherent in the current Private Medical Insurance industry. Poor claims management, bloated administration costs and a responsibility to shareholders rather than policy holders have all been steadily driving up premium costs under the guise of ‘medical inflation’. The victim of course is you the consumer.

Rbi Premium offers a solution to traditional medical insurance for individuals and businesses. Whether you are looking for a group policy for your workforce or to privately cover your family, please visit www.rbipremium.com for more information.

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Rbi Premium Membership

 Fenix Golf

 

Bangkok, May 25, 2012

Rbi Premium, in co-operation with Fenix Golf, is pleased to announce the launch of its latest membership offering, The Fenix Total Cover Performance Shirt – the Ultimate in Golf Protection.

The Total Cover Performance shirt, made by Fenix Golf and driven By Rbi Premium, is an innovative product that combines Fenix’ high quality golf apparel with Rbi Premium’s Total Cover membership.

A winning combination, the Rbi Premium Total Cover membership provides 12 months worth of Hole-in-One cover, personal liability benefits, and medical cover for on-course incidents at any golf course in the world, while Fenix Golf Shirts, a common sight on the Asian Tour, are becoming increasingly popular with amateur and professional golfers internationally.

The Fenix Total Cover Performance Shirt is ideal for both corporate events and as a personal gift for any golfer. This unique concept presents an excellent promotional and branding opportunity for corporations, tournament hosts, travel companies and sponsors worldwide by providing a valuable benefit that will last the entire year. In addition, part of the proceeds go to the Gift of Happiness Foundation.

Total Cover is easily activated online at  http://totalcover.rbipremium.com.

Fenix Golf can be found at http://www.fenixgolf.com/.

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Expat health: a good reason for that pricier premium

The price of expat health insurance can vary dramatically. Here are some reasons why.

The cost of health insurance differs depending on where you are, and what benefits you require.

By Peter Pallot

9:44AM BST 18 Apr 2012

Pretend you are looking to buy a smart dining table and set of chairs. One furniture store meets your needs at a cost of £5,300. Another charges nearly £13,000 for an apparently similar collection.

Most people buy the first and save £7,700. In fact, they might well wonder how the expensive shop could ever stay in business.

Parallels are possible here between fictional furniture stores and the real world of international medical insurance companies – in the sense that premiums can vary two-and-a-half times for apparently similar cover for the same individual.

Any business that ignores market forces does so at its peril. And while you might think an insurer charging more than twice the going rate is heading to the same fate, that is not necessarily so.

A table of benefits and premiums for an early retired couple in Europe shows Axa PPP International charging £5,311 a year for its Comprehensive plan, covering in-patient and out-patient treatment.

But nothing is quite as it seems. The Axa PPP plan has an overall annual cap of £3,000 on out-patient procedures. That includes potentially expensive items such as specialist consultation and diagnostics. There is no limit on the Expacare plan.

However, that hardly accounts for such a large disparity in premiums for the couple (aged 60 and 58). According to insurance adviser Hazel Gregory, a Europe-based couple insured with Expacare would be taking a hit because the company divides the world in two for premium-setting purposes. Put crudely, inexpensive Europe is bundled into expensive Asia.

“ExpaCare has only two-area cover – Worldwide and Worldwide excluding US,” said Ms Gregory, managing director of Medical Insurance Services in Chandler’s Ford, Hampshire.

Asia includes high-cost centres such as Singapore and Beijing and includes vast areas where suitable medical care is nonexistent. That makes emergency air evacuation difficult to organise and expensive, while the patients often end up in the costly centres of medical excellence such as Singapore.

“Axa PPP treats Europe as a separate entity, which keeps the price down while other insurers – InterGlobal and Bupa – go further, making Africa a single area and the cheapest.”

Ms Gregory added: “The absence of any cap on the Expacare plan is an advantage because consultations and diagnostics can quickly mount up. For scans in UK you are looking at about £500 but they should be cheaper in France and Spain. Another reason behind the premium differential is that Expacare tends to concentrate on the corporate market, while Axa PPP goes across the board. But you should remember that no plans are alike – you just cannot make a direct comparison.”

Insurers throw in some peripheral benefits. The latest example is a “dormancy option” from Allianz Worldwide Care.

This allows policyholders to freeze their own personally funded health cover if they become eligible for an employer-funded plan. They will be taken back into cover without new underwriting. That is valuable for the person who develops a chronic condition, such as heart trouble, diabetes or asthma.

Clearly, as people move jobs and are posted abroad, the innovation will appeal. The problem is that Allianz is charging 30 per cent of the full annual premium for each year of dormancy.

This article was originally published in The Telegraph Weekly World Edition

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Is your Insurer Being Honest With You?

by admin on May 8, 2012

Is your Insurance Company Lying to you?

One of the more common misconceptions when expats purchase medical insurance is the assumption that some expat medical insurers will make a longer term commitment to policy holders. While insurers do not provide deliberately misleading information to consumers, policy wording and sales documentation are often unclear regarding the limitations of the product.

The truth is, all expatriate medical insurance policies are annually renewable.

Even if an insurer were willing to guarantee coverage over the long term, they would not be willing to guarantee future premium prices. Conversely, if they were willing guarantee future premium prices they would not guarantee renewability.  Either way, your policy is renegotiated and renewed annually.

The fact of the matter is that expatriate medical insurance is short-term insurance purchased by people who, generally, take up residence overseas for an indefinite period.

The operating assumption generally held by the expatriate medical insurance industry is that those stricken by serious chronic health conditions and critical or terminal illnesses will return home for long-term treatment near their families and loved ones thereby limiting the need for ongoing coverage.

Any expatriate medical insurer who has a policy holder stricken with chronic conditions and critical illnesses will want to manage costs, increase premium prices and introduce new exclusions. Simply put, as risk increases, so do premiums – that is if coverage is continued at all.

At RBI Premium, we believe that consumers shopping for expat medical insurance need to know the truth about what they are paying for, which is temporary medical coverage, not life or critical illness insurance.

For more information about the Rbi Premium Expat Lifestyle Membership please go to www.rbipremium.com

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Britons urged to take out travel insurance if visiting family abroad

April 18, 2012
Briton Urged to Purchase Travel Insurance

Photograph: Digitalknight/Alamy Reprinted from http://www.guardian.co.uk/money/2011/jun/02/travel-insurance-visiting-family-abroad?CMP=twt_gu Rebecca Smithers guardian.co.uk, Thursday 2 June 2011 13.05 BST Foreign Office research shows that a third of people do not take out travel insurance when staying with family and friends overseas. Britons planning to visit friends and family abroad this year are being urged to take out full travel insurance to help them should […]

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Innovative annual membership programme including medical and travel coverage

April 4, 2012
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Here are Tom’Bishop’s (The Travel Bishop) thoughts on the Rbi Premium Membership. See Tom’s DTC Travel website and blog here. http://www.dtctravel.com/ If you travel frequently or are an expatriate, then the RBI Premium Lifestyle Membership programmes are really worth considering. They do provide a great value for money option to traditional medical and travel coverage. How? […]

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The Rbi Premium Chamber Challenge

March 27, 2012
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 Its that time of year again and all golfers are invited to come out and join the Rbi Premium Chanmber Challenge . GOLD SPONSOR Rbi Premium – www.rbipremium.com SILVER SPONSORS The Masters – House of Golf – www.plp.co.th PowerPlay Golf – www.asiangolfevents.com/powerplay-golf Property Care Services (Thailand) Ltd – www.pcs.co.th Mazars (Thailand) Ltd – www.mazars.co.th Welcome to the Rbi Premium European […]

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Employers not providing adequate health cover for expats, survey suggests

March 23, 2012
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 Expat workers may be at risk because of their employers’ lack of healthcare knowledge as they rely heavily on them providing adequate cover, according to a survey. The poll of 44 companies representing approximately 11,000 employees, found that only 5% of employers felt they fully understood international healthcare. It means that employers do not always […]

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Read the small print: the cost of your health care is rising rapidly

March 21, 2012
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Companies are questioning the feasibility of maintaining expensive health benefit schemes for their workers Photo: Alamy  By Peter Pallot 9:40AM GMT 16 Mar 2012 And that applies not just to the individual purchaser of international private insurance. The warning is primarily aimed at privileged policyholders – the millions of expats covered under a group scheme paid for […]

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An Online Personal Health Record –

February 7, 2012
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What is it and why is it useful? An online personal health record is a collection of information, recorded by you, about your health that you can access from anywhere in the world at any time. There are many reasons why this is useful, some obvious and some not so much.  We tend to think […]

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