The recent very unfortunate and tragic incident in which hotelier Godfrey Dyer and members of his staff were seriously injured in an explosion has served to highlight the importance and necessity of people having access to the best health care, and in particular, first-world major health care where medical advances abound.

Although one will readily agree that our local medical professionals rank favourably with their counterparts worldwide, there are numerous advances in procedures, techniques, equipment and facilities with which, sadly, we have been unable to keep pace. These advances may well determine whether our lives are saved, or may prevent our having to live an impaired quality of life should we be unfortunate enough to fall victim to a catastrophic illness or accident. All too frequently we see reports of the tragically ill without the resources to fund their required treatment, which happens to be only available abroad, having their situation publicised in the press seeking donations to meet the cost.
We are similarly aware of situations where people have been devastated financially, having had insufficient or no medical insurance coverage to meet the cost of their health care.

There is no doubt that health care has become extremely expensive, and personal resources are hardly ever readily available to meet these costs when they arise. Without question, our best option is health insurance and, in particular, major medical insurance. In buying insurance we are investing a small sum in order that someone else will write that big expense cheque for us when the situation arises. International major medical insurance is currently available in Jamaica in both the legal and illegal markets.

The prudent and discerning buyer will, however, readily recognise that their hard-earned dollar is best placed buying coverage that is legally approved and registered with the Financial Services Commission. The benefits are self-evident and indisputable: the buyer is afforded some measure of legal protection by having recourse with claims through the regulatory agency if it becomes necessary; premiums are a legitimate expense for tax purposes; corporate entities and individuals display proper business acumen in conducting their legitimate business with companies approved by the regulating agencies rather than with "grey market individuals".

The only such legally approved coverage currently available is the Worldwide Medical Trust/Lloyd's, providers of top-quality international major medical coverage for those who reside outside the USA. The coverage is fully underwritten by Lloyd's of London, whose history, financial strength and stability spans over 300 years. The recent collapse of the Dyoll Insurance Group brought it forcibly home to Jamaicans that capital adequacy and security of an insurer are of supreme importance, and should be paramount in their consideration of coverage. Lloyd's policies provide that assurance as they are fully endorsed by the top international insurance rating agencies, and they have been given an "A" rating by the two premier agencies, Standard & Poor's and AM Best.

The coverage provides a comprehensive package of medical benefits valuing up to US$1 million per person per annum, including hospital private room, 100 per cent hospitalisation charges (that is, surgery, treatment, tests, medication, doctor's bills, etc), home nursing and rehabilitation, emergency transport, including air ambulance, and outpatient benefits. Holders have full coverage in any country of their preference, including Jamaica, and the insurance is subscribed to by an extensive, worldwide network of hospitals and clinics.

A particularly attractive feature differentiating the Lloyd's plans from other major medicals is the benefit of the "Super Special Hospitals", so designated because of certain treaties in place. Upon admission to a Super Special Hospital in the Miami area, up to US$5,000 of your deductible is waived, airfare up to US$800 each is reimbursed for the insured and a companion, and accommodation and transportation for the companion is met. Upon admission to other Super Specials other than the Miami area (Houston, California, New York, and Jamaica), up to US$1,000 of the deductible is waived.

Jamaicans have found these benefits to be particularly attractive, especially in view of the proximity of the Miami area to Jamaica and the location there of a number of top-class hospitals where treatment is frequently sought. The benefits of the Lloyd's plans may also be co-ordinated with local Blue Cross or Life of Jamaica plans already held by the insured. These features together may result in the insured not having to go into his pocket at all upon hospitalisation for any further expense, other than the annual premium which has been paid up front. Those up to age 74 are eligible for this coverage, and once issued it is renewable annually for the person's lifetime. The annual premium, which moves in age bands, is attractive, affordable and highly competitive. Children under 11 years are covered under their parents' plans entirely free of cost.

Those who have worked hard to accumulate assets to provide for the security and comfort of their families and themselves would do well to heed the call to ensure that their savings are protected from erosion caused by heavy medical bills, should they or their family fall victim to a major health crisis. More important, they should ensure that access to the advanced health care which may become necessary is in place.

Barbara Tapper is insurance and financial adviser for Lawe Insurance Agency, Kingston, Agents for Worldwide Medical Trust/Lloyd's.

betapper@laweinsurance-health@cwjamaica.com

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