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In January of this year the supermarket giant Tesco revealed that it was adding to its already impressive list of financial products and services by offering UK consumer the chance to enjoy good value private medical insurance cover.
 Described as 'simple' health insurance products, the policies offered by Tesco include premium and core cover, each of which offers a range of benefits. However, some are questioning whether supermarket private medical cover really does offer value for money to consumers.
A spokesperson for Tesco was enthusiastic, and stated: 'Our customer research suggests that perceived high prices, complicated products and complex medical questions have been major stumbling blocks to buying health insurance. We aim to change that by offering products that are simple, good value and easy to buy. Our approach will open up the market to people who want the choice that health insurance offers.'
However, a Bupa Health Insurance spokesman, Steve Flanagan, stated: 'People may pay less for Tesco health insurance but it could cost them dearly in the end. Much has been made of the no-claims discounts on offer, but these could discourage some people from seeking early treatment, which can't be good. People should have access to high-quality treatment as and when the need arises and not feel penalised or discouraged from seeking medical help.'
And according to industry experts from This is Money: 'The Tesco insurance is relatively simple and easy to understand and follows the example of Tesco car insurance in being among the cheapest options out there. But being cheap does not always mean value for money. The Tesco insurance does not cover everything and excludes some treatments and costs that may arise if you need medical care. It could be worth paying for a more comprehensive policy that does cover these additional treatments.'
Tom Smith
12.03.07
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