FAQs

Medical insurance

How many employees should the company have in order to purchase medical insurance? What is a franchise and what percentage of the damage is it? Can it be reduced? What is extra-rate and whom does it apply to? What is a waiting period and to whom does it apply? How is the premium to be paid? How is the compensation paid?

How many employees should the company have in order to purchase medical insurance?

The minimum accepted quantity is 50 people (employees and their family members). The insurance companies will as well consider factors such as age average, type of activity, other insurance policies and etc.
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What is a franchise and what percentage of the damage is it? Can it be reduced?

It is the part of the medical expenses which is bore by the 1st insurer (S.S.O. or Medical Insurance Services) and in case the insured person will not refer to the 1st insurer for receiving this part of the expenses or to the centers who are in contract with the 1st insurer, he himself should bear this part of the expenses.
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What is extra-rate and whom does it apply to?

Extra-rate is the increase of the premium for a person. In groups with less than 1000 individuals, the insurance premium of the individuals between the age of 60 and 70 will be increases by 50% and for those above 70 years will be increased by 100%.

What is a waiting period and to whom does it apply?

Waiting period is a period in which the insurer doesn’t have any liability of compensating the damages. Currently, the waiting period with regards to the labor coverage for the personnel (or their spouse) who have been employed recently and/or have recently been covered by complimentary insurance, is 6 month from obtaining the insurance policy, and it is 3 months for ailment diseases. The waiting period doesn’t apply for groups with more than 1000 individuals.

How is the premium to be paid?

The insured is to pay the premium to the insurer in the manner specified in the insurance policy. This payment might be at once, in two payments once every 6 months, four quarterly payments or 12 monthly payments.

The maximum payment deadline is thirty days before the expiration date of the insurance policy.

How is the compensation paid?

Losses can be paid via check payable to the insured or transferred to the account provided by the insured.

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