Key takeaways: Can I continue my health insurance after leaving a company?
If you're considering changing jobs or are approaching retirement, you might be wondering whether you can keep your private health insurance cover if it’s part of your employee benefits package.
The short answer is no – but the good news is you have options to stay covered by private healthcare cover.
Health insurers generally provide special continuation terms whether you’re moving to a new employer, retiring, taking redundancy or just having a career break.
Timing is crucial – providers usually offer a limited ‘window’ after you leave your company scheme to take advantage of special continuation terms, which could include cover for pre-existing conditions. If you miss this window, special terms are unlikely to be provided.
What's in this article
Jump to sections:
- What happens to my company health insurance when I change jobs or retire?
- Do health insurers offer any special terms if I choose to continue my health cover with them when I leave a company?
- Are there any time limits to switching from a company healthcare plan to a personal one?
- What happens if my corporate health scheme ends before I’ve arranged a new individual health plan?
- Who can switch from a company health insurance scheme to a personal plan?
- Why should I keep private health insurance when I leave my job or retire?
- Are family members and dependants offered ongoing cover if I move from my company scheme to a personal plan?
- If I’m thinking of continuing private health insurance after I’ve left my job, what should do?
What happens to my company health insurance when I change jobs or retire?
When you leave your job, your health insurance cover typically ends on your last working day or at the end of the month, depending on your company's policies. However, many private health insurance providers offer special continuation terms to those leaving a company (or group) scheme, allowing you to continue your private health insurance cover on a personal plan. Health insurers generally provide special continuation terms whether you’re moving to a new employer, retiring, taking redundancy or just having a career break.
Do health insurers offer any special terms if I choose to continue my health cover with them when I leave a company?
One significant advantage if you're leaving a company health insurance scheme is that most providers allow you to continue your cover without additional medical underwriting, often referred to as Continued Medical Exclusions (CME). This means any pre-existing conditions previously covered on your company scheme could still be covered under your new policy (subject to the terms of your new plan).
Are there any time limits to switching from a company healthcare plan to a personal one?
Yes, providers usually offer a limited window – at AXA Health, it’s 120 days – after you leave your group scheme to take advantage of continuing your cover with CME underwriting. This means if you've recently left your job, acting promptly ensures continuous, comprehensive coverage. It’s best to get in touch with your provider as soon as you know you know your departure date – the earlier, the better. That way, your provider can help you find the right plan, answer your questions, and make sure your new plan starts from the day you leave. This is especially important if you or any of your loved ones are currently using your company health benefits to pay for any ongoing diagnosis or treatment.
Missing this window means you’ll revert to standard underwriting terms, potentially losing cover for any pre-existing conditions.
What happens if my corporate health scheme ends before I’ve arranged a new individual health plan?
If there’s a gap between leaving your employee healthcare scheme and starting a new personal plan, you won’t have any health insurance cover during that period. Any treatment needed during this time would be at your own expense.
So, if you’re looking to continue your healthcare cover, it’s important to contact your company’s provider as early as possible, so your cover can seamlessly continue when your current plan ends.
Who can switch from a company health insurance scheme to a personal plan?
There are many reasons why you might leave a company health scheme and switch to a personal plan, including:
- Taking retirement
- Taking redundancy
- Having a break from work
- Being an over-age dependant: If you've reached an age limit (commonly around 25) where you're no longer eligible under your parent's policy, moving to a personal plan can maintain your healthcare benefits.
- Moving to a new employer: If your new job doesn’t provide health insurance as part of your employee benefits package, personal cover ensures your previous protection continues.
- Changes to your existing company scheme: Perhaps your employer altered eligibility criteria, removing you or your dependants from the scheme – personal cover can bridge that gap.
- Going solo: Starting your own consultancy or freelance business? A personal health policy ensures you remain covered independently.
Why should I keep private health insurance when I leave my job or retire?
Keeping private health insurance after leaving your employer’s scheme can offer many benefits:
- Peace of mind: private healthcare can provide quick access to diagnosis and treatment, offering reassurance when you need it most.
- Continuation of existing cover: If you or your loved ones are currently using your company health benefits to pay for any ongoing diagnosis or medical treatments, uninterrupted coverage is critical. Keeping your health insurance with your existing provider can ensure no disruption in treatment and no additional stress from switching providers.
- Comprehensive coverage: Personal private health insurance plans typically provide comprehensive coverage, including:
- Quick access to diagnosis and treatment: see a specialist quickly, at a time and place that suits you
- A choice of private hospitals and clinics with private rooms and additional amenities during hospital stays
- Access to treatments and medications that may not be available through the NHS.
Are family members and dependants offered ongoing cover if I move from my company scheme to a personal plan?
Yes – if your dependants were covered under your company scheme, they’re also usually eligible to keep their cover going on the same underwriting terms when you move to personal cover. So, if your child is currently claiming for treatment or has a pre-existing condition, they could still be covered for treatment of that condition, depending on the terms and conditions of the new plan you choose. Arranging continuous protection for your family is usually straightforward and offers peace of mind during times of change.
If I’m thinking of continuing private health insurance after I’ve left my job, what should do?
As soon as you know you’re leaving your job, contacting your current insurance provider should be your first step. They can discuss your options, ensuring a smooth transition to personal healthcare cover as soon as your membership of your company scheme ends, so you don’t lose valuable protections. Remember, once your company cover ends, any treatment you receive before your new personal plan starts won’t be covered, so acting quickly is key.
With timely action, you can seamlessly continue your private healthcare cover, securing peace of mind and ongoing health support for you and your family.
Contact us today
If you’ve been a member of AXA Health through your company’s private medical insurance scheme, or if we’ve administered your company’s healthcare benefit, you already know how reassuring having access to private healthcare benefits can be.
To make sure you have health insurance cover from the moment you leave your employer, call our dedicated team for a quotation for setting up your new plan.
Contact us before you leave your company scheme on 0800 032 1965*
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