Health Plan Resources for Employers

Health Plan Resources for Employers - Argus Bermuda

CHOOSE AN ACCOUNT:

We’re here to help make this year’s health renewal process as simple as possible. Here are some of the important things you need to know:

Health Renewal FAQs

How will Argus support my company during the 2023 health policy period?

We understand the importance of reconnecting with you in-person to support your employees’ wellbeing and empower them to make informed decisions about their health, while effectively managing costs. We are excited to partner with you to promote meaningful and sustainable lifestyle change through educational health and wellness activities, including seminars, wellness challenges, and participation in chronic disease management and preventive care programmes that appeal to a variety of lifestyles.

How will my company’s premium be calculated this year?

This year’s premium calculations remain the same as in previous years. Your total premium will be inclusive of the Standard Premium Rate (SPR) and your Supplementary Premium, as follows:

Standard Premium Rate (SPR)

The SPR, which includes the Mutual Reinsurance Fund (MRF) levy that Argus pays to the Government on your behalf, currently remains at $400.31 per month per insured adult.

Supplementary Premium

The premiums for supplemental medical, dental, and vision care benefits are administered by Argus and adjustments will vary by company and/or account under policy and are based on:

Your plan’s claims experience over a three-year period.
General medical inflation.
Group demographics.
Trends in service utilisation.
Claims experience for our entire book of business.
Your benefits plan.

What are the 2023 health benefit enhancements?

Every year we review benefits[1] to ensure that they meet the unique healthcare needs of our members. This year’s new benefits are as follows:

Preventative and Diagnostic

Allergy Testing – increased from $600 Lifetime to $900 every five years

Home and Office:

Specialist Consultation at Island Health Services and Family Practice Group covers 100% of billed charges
Physical Medicine and Supplementary Therapies: now inclusive of Complimentary & Alternative Therapies (e.g., massage, chiropractic, osteopathy, acupuncture, and naturopathy) - increased the maximum from $75 to $85 per per visit and a combine maximum of $3,600 per policy year
- Individual Visit – increased the maximum from $75 to $85
- Group Session – increased the maximum from $35 to $40
Chiropody/Podiatry – increased the maximum from $75 to $85 per visit
Neuropsychological Testing – one test every two policy years with a maximum benefit $5,000.

Major Medical:

Specialty Network – Non-Solid Organ Transplants: to provide world class care while reducing costs for Bone Marrow, Stem Cell and CAR-T therapies
Increased our Accommodation Benefit on all plans for care in the Argus Preferred Provider & Specialty Networks
Student Mental Health Hotline available to students studying overseas.

[1] Depending on your healthcare plan.

VIEW ALL FAQS >

New UnitedHealthcare Partnership & Digital Card

On June 1, 2023, we’re introducing a new overseas care partnership, and digital Health ID Card that can be easily accessed from anywhere at any time on your ...

Helping Your Employees Manage Their Health

BY ARGUS

01 MAY 23

At Argus, we strive to give your employees access to the health and wellness resources they need to thrive. We understand that no two health journeys are the...

Understanding inflation: the danger of keeping your eggs in one basket

BY MELVIN NUSUM

08 APR 22

What is inflation, and how can it affect you? What are some steps you can take to protect yourself? In this article Melvin provides valuable insights about p...