With medical insurance premiums rising at unprecedented rates it makes sense to use every opportunity to save money. Once you have reduced your cover to the minimum and added the biggest excess your insurer will allow there is little room for further savings. This is where an affinity group can help…
An affinity group uses economies of scale to help individuals who have a common connexion and who have a common need for medical insurance. They operate in a similar way to employer based group schemes but they are not compulsory. For example, the requirement for joining an affinity group may be membership of a club, society or being employed in a certain profession such as teaching or engineering.
Under an affinity scheme the benefits are the same for all members. Therefore you need to be sure that the benefits are what you want and the premiums are affordable before you sign up.
Like most group schemes, affinity schemes usually need a minimum of 5 but more usually 10 primary members to get started. A primary member is the person who is a member the club, society or professional which is the common link for the group. Dependants do not count as if the primary member leaves they lose their eligibility for membership.
If you would like more information on this idea please let me know.