Status Global Insurance Provides Expat Solution for S1 Form Withdrawal
Status Global Insurance, a leading insurance provider in the UK and EEA, are offering a solution to the withdrawal of the S1 reciprocal health benefits for UK early retirees living in another EEA country.
London, July 10, 2015 (Newswire.com) - It is the one year anniversary of the UK government’s withdrawal of S1 reciprocal health benefits for UK early retirees, who have moved to another EEA country, and many individuals are still not aware of the change until it is too late. Status Global Insurance, a leading provider of travel and medical insurances to expatriates across Europe, are pleased to announce they can offer a solution in the form of a medical insurance product option for UK citizens. This option can provide ideal temporary cover until they turn 65, when if eligible, they can access the national health system in their country of residence.
A residual S1 form provided a temporary period of healthcare to UK early retirees that were moving to another EEA country. The residual S1 form was only available to early retirees that would not be taking up employment, it was based on their recent national insurance contribution in the UK and only provided temporary cover for up to a 30 month maximum.
Effective on the 1st of July, 2014, the UK government ceased making reimbursements for residual S1 forms. As reimbursement is not required under EU law, the UK government had been making the payments voluntarily. The decision to withdraw the residual S1 forms, which is expected to save the UK government millions sterling will potentially leave 10,000s of UK citizens living in another EEA country without access to state health insurance.
“Unfortunately, the withdrawal of the residual S1 form has not been widely publicised and many early retirees are not even aware of the change until it’s too late.” Says Paul O’Sullivan, Director at Status Global Insurance. “We are doing everything we can to help educate individuals who will be, or are already, affected by this change and the potential health and financial exposure they face. I am happy to say that we have a great product option that can provide the necessary coverage to fill the gap for early retirees until they turn 65.”
O’Sullivan went on to say, “We want to encourage people to spread the word about the S1 withdrawal to customers, family and friends, and for them to feel free to pass on our contact information. Regrettably, many individuals are finding out about it once it’s too late and they are left with the choice of missing medical treatment, or a medical payment they can’t afford.”
It is important to note that the S1 withdrawal had no effect on UK state pensioners accessing medical care when they retire to EEA countries. The change also did not affect reimbursement for treatment received, or started, before 1 July 2014 even if treatment was ongoing.
About Status Global Insurance
Status Global Insurance is a trading name of Status Insurance Management Ltd, which has been operating for 30 years and is a Lloyd’s European coverholder. Status Global Insurance offers a wide range of insurance products to both UK and EU residents, from travel and private medical insurance plans through to insuring homes or holiday villas in Spain, Portugal, Cyprus and Malta. Status Global Insurance prides itself on offering exceptional wholesale and retail insurance products and services to both local nationals and expatriates in the UK and EEA. For more information please visit the new Status Global Insurance website: www.statusglobalinsurance.com
For more information please visit the new Status Global Insurance website:
Website : www.statusglobalinsurance.com
Contact : Paul O’Sullivan
Telephone : +44 (0)203 5147032
E-mail : email@example.com