Private Health Insurance Cost Calculator

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18-02-2021

Health Insurance provides you with access to private medical treatment should you suffer an illness or injury and need to receive prompt care.

  • Avoid potentially lengthy NHS waiting lists
  • More amenities than would be available in the typical NHS hospital
  • Private, ensuite rooms and round-the-clock visiting hours
  • Access to the latest drugs and treatments, even those not yet routinely available on the NHS

When taking out health insurance the two most common questions we get asked by our clients are:

What level of cover do I need?

How much will Medical Insurance cost?

Unfortunately answering these two questions is less straightforward than you would hope.

It depends on a variety of personal and policy factors but the good news is we are going to try and answer these questions for you in this guide.

How Do I Compare Private Health Insurance Plans?

Firstly, it’s important to recognise each insurers product provides a unique core level of cover.

To make things even more confusing each provider also have their own array of optional extras. You can bolt these extras on to your policy to increase the breadth of your coverage. These extras can include alternative therapies, international cover and extended hospital lists.

Calculating the cost of medical insurance in the UK

As you are not always comparing apples with apples you can’t just look at price of the plan. You also need to look at the level of cover you’re being offered for the amount you pay each month.

Firstly, we have an online comparison tool to help you calculate the cost and compare the policy options of all the leading UK health insurance providers.

Secondly, we have a team of experts on hand to answer your questions and help you find the most appropriate cover 😊.

How Much Does Private Health Insurance Cost In The UK?

As mentioned, the cost of cover depends on both personal and policy factors. Personal details insurers consider when they calculate premiums for Medical Insurance include your:

  • Age
    The older we are, the more likely we are to need medical treatment.
  • Location
    Living in areas with more expensive hospitals increases your premiums.
  • Medical/claims history
    If you have made a claim on Health Insurance in the past, you’ll likely face higher premiums.
  • Smoker status
    Due to the negative health effects of tobacco, smokers are charged higher PMI rates than non-smokers.

Policy factors, which you largely control, are also at play. The price of premiums depends on:

  • Your level of cover
    The cheapest Health Insurance only covers inpatient treatment (where you need a hospital bed, for example after surgery). It won’t cover outpatient treatment (all medical care not requiring a hospital bed, such as diagnostic tests and scans).
  • Inclusion of outpatient cover
    An optional extra on your policy for an extra premium. Choose to either have outpatient treatment covered in full or limited by a monetary cap per policy year.
  • Your excess
    Similarly to car insurance, your excess is the amount you pay upfront towards a claim before your policy kicks in to cover the rest. The higher the excess, the lower your premiums.
  • Hospital access
    Many insurers have ‘tiers’ of hospitals in which you can have treatment. If you want access to the best facilities, such as those in Central London, you’ll pay more for your policy.
  • Optional extras
    Some insurers offer optional policy add-ons, such as psychiatric cover for mental healthcare and routine dental treatment to cover the cost of checkups, fillings etc.
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How To Calculate The Cost Of Private Health Insurance?

With so many personal factors and policy options to consider with Private Medical Insurance, we’ve had to make a number of assumptions to calculate the premiums in the table below.

For example, we assumed each individual is:

  • 30 years old
  • In good health
  • A non-smoker
  • Willing to pay a £250 excess
  • Going to be underwritten on a moratorium basis
  • Not looking for any additional extras on their policy
  • Based in the same postcode as our Brighton office.

Example Premium Calculations

To properly compare the cost of Health Insurance, we’ve provided premiums for a range of cover starting with a basic Health Insurance policy without outpatient cover.

In addition, there is pricing for a mid-range policy, with outpatient cover capped at £1,000 per policy year, and a comprehensive policy, which covers both inpatient and outpatient treatment in full.

Low Cost Cover

No Outpatient Care

£35 per month

Mid-Range Cover

£1,000 Outpatient Limit

£51.66 per month

Comprehensive Cover

Full Outpatient Care

£58.64 per month

These cost calculations are for illustrative purposes only.

You will need to provide a similar level of personal information and cover requirements to all of the leading UK health insurers to obtain quotes.

You can use our tool to get personalised illustrations from all the leading UK Health Insurers.

If you have existing health conditions it can make getting cover a little more complicated. To discuss your options give us a call on 02074425880 or email help@drewberry.co.uk.

Who Are The Top UK Private Health Insurance Companies?

There are five Health Insurance companies that cover the majority of UK policyholders. Each with their own unique range of products and pricing philosophy.

There are also a number of smaller boutique providers who specialise in niches including covering the self employed and providing international cover.

It is important to obtain quotes from all of the top UK providers when doing your research as premiums can vary considerably based on your age and your cover requirements.

Additional Benefits

To remain competitive many insurers now offer a range of valuable health and wellbeing benefits as part of their core cover including:

  • 24/7 Video GP Service
  • Online Prescription Service
  • Nurse Staffed Medical Advice Helpline
  • High Street and Fitness Discounts

Reviewing Existing Cover

Health Insurance renews annually with premiums generally rising alongside medical inflation. With the market constantly evolving it is important you regularly compare your existing cover to alternative arrangements.

As part of our client service we will do a full market review each year to make sure cover is still suitable and the most cost-effective option.

Compare Health Insurance Quotes & Get Expert Advice

The cost of private medical insurance varies considerably based on your personal circumstances and the level of cover. As a result of this, it is best to discuss your options with an expert.

Why Speak to Us…

We started Drewberry™ because we were tired of being treated like a number.

We all deserve a first class service when it comes to issues as important as protecting our health. Below are just a few reasons why it makes sense to talk to us.

If you need help comparing UK health insurance quotes or want to review existing cover give us a call on 02074425880 or email help@drewberry.co.uk.

Very helpful from start to finish. Talked through all the points and gave great advice.

Darren Comer
16/06/2020
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Drewberry Ltd registered office: Telecom House, Preston Road, Brighton, England, BN1 6AF. Telephone 0208 432 7333

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