The premium of our plans is subject to less fluctuation across years. It’s because package plans have a bigger pooling effect—shared by more company groups—and the overall claims experience is more stable. Bowtie Corp Medical Insurance Plan is a package plan, and the adjustment on the premium is smaller when compared to tailor-made plans.
In contrast, the renewal premium of tailor-made plans could be highly volatile as it’s determined by the claim ratio of SMEs. The higher the claim ratio, the higher the renewal premium. This hinders the cost control of SMEs.
In short, package plans are better for SMEs that are cost-conscious.
If there’s any change in the member list, a premium adjustment will be paid by (or refunded to) you to reflect such a change by the end of each policy year.
Member Exclusive Price is a special price that the Insured Person can enjoy for outpatient and dental services under the BowtieGo medical network.
Member Exclusive Price varies by practitioners and is subject to change from time to time. Please refer to the customer portal for the latest information.
The consultation costs of specialists and general practitioners are covered by Pro Bronze, Pro Silver, and Pro Gold only. Moreover, the Insured Person from all plans can seek specialists and general practitioners consultation with Member Exclusive Price under the BowtieGo medical network.
Dental benefits are applicable to Pro Bronze, Pro Silver, and Pro Gold only. Dental benefits include oral examinations, scaling and polishing, accidental denture treatment, extraction and filling, and dental X-ray.
Besides, the Insured Person from all plans can enjoy oral examinations, scaling, and polishing services with Member Exclusive Price under the BowtieGo medical network.
Diagnostic of pregnancy or resulting childbirth, abortion, miscarriage, or any complications from the above are excluded in the policy coverage. However, the Insured Person can access obstetrics and gynecology specialist consultation services at Bowtie’s Member Exclusive Price.
To provide more holistic medical protection to the employees, employers can enroll in the Bowtie Corp Medical Insurance Plan for the spouse and kids of their employees. Even for parents (applicable to Basic Bronze only).
Our policies define ‘pre-existing conditions’ as any injury, illness, condition, or symptom presented prior to the commencement of the policy whether or not it is congenital or acquired, and whether or not the condition has been diagnosed. If an employee is insured under Bowtie Corp Medical Insurance Plan for more than one year, his/her ‘pre-existing conditions’ will be covered.
Apart from Basic Bronze, there must be at least 3 employees for the eligible application of Bowtie Corp Medical Insurance Plan.
You do not need to go through an underwriting process when purchasing this Bowtie product.
As a local SME, we Bowtie have experienced a lot of turmoil within two years and have also learned firsthand the importance of cost control and talent acquisition.