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Tue, 17 Nov, 2015 12:11:55 AM FTimes – STT Report, Nov 17  File Photo – Lehtikuva. The insurance company IF is terminating 28,000 medical expense policies over the next year, the company said on Monday.
IF blames the policy cancellations on poor profitability.
The news was first reported by a Finnish language daily, the Turun Sanomat, and IF released a statement afterwards.
“The flexible medical treatment expenses security policy was created in the mid-1980s in response to the needs of the modern society. The policy was no longer being sold in the early 2000s,” said the person in charge of the insurance company, Tero Hoikkala.
Because the insurance has not been profitable, the prices have continuously increased, which has created negative feedback, Hoikkala said.
According to the Turun Sanomat, IF plans to offer new policies in its place that no longer reimburse travel expenses and include a substantial deductible.
According to the newspaper, many other insurance companies are considering how to proceed with medical expenses insurance.
The Sote (social and health care) reform and decreases in KELA compensation have also increased the pressure for change.
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Finland Times
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