Morgan Price

What Morgan Price is

Morgan Price is a managing general agent, not an insurer. It designs and sells its own international health insurance plans for expats and local nationals, and runs them on behalf of an insurer that carries the risk. Its about page explains: "Morgan Price International Healthcare is what is known as a managing general agent (MGA) or managing general underwriter (MGU) which means we are not an insurer, but we act on behalf of insurers in terms of product design, administration, premium collection and where appropriate claims handling." It adds: "The products we sell are our products and the clients who buy them are our clients. We choose the most appropriate insurer." The pages do not name that insurer.

The UK company says "Morgan Price was formed in 1999 to act as a product provider in the international healthcare insurance market." Its footer states that "Morgan Price International Healthcare Limited are authorised and regulated by the Financial Conduct Authority. FCA FRN : 313738," and the about page says it "is also a member of the Association of International Medical Insurance Providers." After Brexit it set up a Danish company for EU clients: Morgan Price (Europe) ApS "was formed in 2020 to support our EU Partners and Members," is "authorised and regulated in Denmark by the Danish Financial Supervisory Authority (DFSA)," with "FTID Number : 36351," and "has permissions to transact insurance business across the EU/EEA under EU Freedom of Services (FOS) regulations."

The claims pages name the product range sold through the UK site: Evolution Health, Evolution Health Africa, Evolution Health Asia Pacific, Flexible Choices Asia, Global Options and Gulfhealth. The EU site sells Evolution Health EU, and says that for buyers outside the EU "we have a compliant product designed in conjunction with our partner Morgan Price International Healthcare Limited."

Evolution Health EU and its limits

Evolution Health EU is "an international policy designed for expatriates (i.e. persons living/working outside of their home country) and local nationals (i.e. persons living and/or working inside their home country) and their eligible dependants," with the United States excepted. It comes in five tiers, Standard, Standard Plus, Comprehensive, Premium and Elite, and the plan page prints an annual limit for each: Standard 500,000, Standard Plus 750,000, Comprehensive 1,000,000, Premium 1,500,000 and Elite 2,000,000. The row is headed "Annual limit" with the symbols for pounds, dollars and euros, so one set of numbers serves all three currencies, and the FAQ says "Premiums are quoted in Sterling, Dollars and Euros."

Core benefits on every tier include "In-patient and day-patient treatment," cancer cover, "Evacuation and repatriation" and "Use of any hospital within your area of cover (transport costs not included)." The benefit table marks organ transplants and dental as not covered on Standard and covered from Standard Plus up, and marks routine maternity and infertility treatment as covered only on Premium and Elite. The FAQ adds that "We have included cover for routine health checks on all but the entry level plan (after 12 months membership)." The plan is "open to new business and is also available to customers wishing to switch their current insurance to a Morgan Price plan," but "is not available to persons or in countries where it would breach any sanction, or where it is prohibited by law or local legislation."

Excess, co-insurance and paying

The quick-quote page explains the variable parts of a policy. An "Out-patient Co-insurance" option means "you agree to pay the selected % of any costs incurred for all out-patient claims." The excess is "the amount you will have to pay towards any claim you make on your insurance," applied "per person per annum," and "The excess is not applicable to evacuation and repatriation, wellness benefits, cash benefits and dental benefits." The page illustrates it with an example of "an excess of £2,500 per person per year" rather than listing the excess levels on offer. A "Home Country Evacuation" option extends evacuation to the home country "if Morgan Price agree that it is medically appropriate to do so."

Premiums can be paid "monthly, quarterly, semi-annually or annually," with "an administration fee for premium instalment facilities of 8% for monthly payments, 5% for quarterly payments and 4% for semi annual payments," and "a bank transfer fee of £10 / €15 / $30." The FAQ offers a money-back guarantee: return the documents "within the first 14 days and we will cancel your cover and refund your premium from inception, provided you have not made a claim." No premiums are printed.

Pre-existing conditions and exclusions

The FAQ is specific here. Its list of "major exclusions" starts with "Pre-existing conditions (unless declared and accepted by us)," and says Morgan Price "may pay for such a condition provided that you have no further treatment, advice, medication, tests or symptoms for that condition in a consecutive 2-year period immediately after the date that your cover starts with us." Under moratorium underwriting, conditions from "the five years before taking up the policy will be excluded from cover until you can remain symptom and treatment free for two years under the policy," and "If you take daily medication or require regular check ups for a condition this will never be covered under a moratorium policy." Full medical underwriting instead reviews the applicant's history and sets any exclusions up front. Medical History Disregarded "is only available on corporate schemes with more than 10 employees." For chronic conditions such as asthma and diabetes, Morgan Price says it will pay for routine maintenance "on some levels of cover subject to it being a newly diagnosed condition" arising after the start date.

Claims

The make-a-claim page sets out the route. For evacuation, in-patient or day-patient treatment, the page tells members to "Contact our 24 hour claims helpline immediately," giving a "certificate number and details of the treating physician/medical facility." Where that is not possible, the page says "you must call the helpline within 48 hours to obtain approval and pre-authorisation of costs," and warns: "You will be responsible for 25% of the covered costs if you do not obtain authorisation." Once approved, "in most circumstances we can arrange to pay the treatment costs directly to the hospital/clinic." For other claims the page's steps are to "Pay for the treatment yourself and obtain an invoice/receipt" and send it with a claim form. Evolution Health EU claims by post go to "Medigo GmbH Torstrasse 124 10119 Berlin Germany Att. Morgan Price Claims." Outside emergencies, the FAQ says the claims team works office hours, UK time, Monday to Friday, while the assistance helpline runs 24 hours.

Who it suits

Morgan Price suits an expat or local national who wants a published ladder of annual limits, from 500,000 on Standard to 2,000,000 on Elite, and who wants the moratorium and pre-existing terms written out before applying. Premium or Elite is where routine maternity and infertility sit. EU residents buy through the Danish company, others through the UK one. It suits a reader less well if they want to know which insurer carries the risk before buying, since the site names none, or need a premium before quoting.