· To avoid break in cover & possible penalties, convert from group plan to a private one
· Employers benefit too plus conversion premium rates are usually better than individual ones
· Convert prior to expiry of existing cover & have Broker negotiate new plan at No Worst Terms
· Keeping your medical plan current can help your employment chances with new employers

All International Medical Insurance and HealthCare Plan companies offer or will consider offering conversion of a group plan member's cover to an individual or family plan upon his/her termination from a group. Many employers ask their Brokers to pre-negotiate with their existing plan company a convenient and effective way for employees to convert to private coverage once leaving employment. Employers use this conversion option as an employee benefit that leaving employees appreciate and often exercise. This rewards employees with continuity of their medical protection after leaving the employer without penalty. In doing so the employee may avoid need to reapply for a plan independently which often results in additional restrictions attached to their new plan benefits, especially related to "pre-existing conditions".

Conversion is normally applied for within the month prior to leaving the group. Of-course once accepted, the individual must arrange his/her premium payment for their converted plan. Usually individual premium is higher than as a group member. However, some plan companies will either continue at existing group premium charged or even lower it. They do this to keep the business with their plan company rather than lose it to another. Because of the typical occupational profile of such employees, plan companies estimate they will again be on the job with another employer relatively soon. If so, already their medical plan in place without need to join a new and different employer group scheme. Employers normally appreciate this pre-arrangement as it lessens their in-processing work. This is especially true for new Independent Contractors or Temporary Employees hired for a specific project or limited period of time.

Conversion is always strongly recommended so long as the resultant coverage does not include new unfavorable terms, conditions or penalties not existing in the group coverage. This is called "No Worst Terms". Conversion terms should be in a written provision within the new plan document and is called a takeover provision. If one prefers to take up a private plan with a different plan company than the group's, then a "takeover provision" should be pre-negotiated prior to actual subscription. Your Broker will assist on this very important aspect.