Posted November 12, 2018 05:09:48 The long-term treatment option of the Horizon family medical insurance policy will be extended beyond the current three years to 2024.
The insurer has also announced a change to its medical billing terms and conditions.
A statement from the insurer said the Horizon Family medical policy will cover up to $2,600 for the first year of coverage, $1,200 per year thereafter.
It will then increase to $3,000 in 2021 and $4,200 in 2022, the statement said.
It added that coverage will continue until the policy is exhausted, whichever comes first.
The Horizon family policy, which covers family members with more than $1 million in annual household income, covers all medically necessary treatments including surgery, chemotherapy, radiotherapy and the use of insulin, according to the policy.
It is currently valid for an average of 18 months.
“The new policy will ensure that no matter the cost, every member has access to treatment regardless of age, income or health status,” said Dr. Brian Pappas, president and CEO of Horizon.
“In the coming weeks, Horizon will announce further details of the policy, including the specific benefits and eligibility criteria that are currently being assessed.”