Private Medical Insurance provides access to private healthcare facilities so you can receive fast treatment of the highest standard when you need it most.
Firstly Private Medical Insurance will only cover the cost of treatment for acute conditions, it is not designed to treat chronic conditions.
Cover is defined by the use of a hospital bed. The most basic health insurance will only cover inpatient treatment while more comprehensive policies cover outpatient treatment in full or up to a monetary limit often set at £500, £1,000 or £1,500.
All policies cover the full cost of treating curable (acute) medical conditions that require an overnight stay in hospital (inpatient treatment) or require a period of time in a hospital bed (day-patient treatment).
Suppose an individual needed a joint replacement. The basic inpatient and day-patient cover would pay for consultations leading up to the operation and the operation itself.
Prior to needing a joint replacement the individual suffered a bout of joint pain. Should this individual have outpatient cover it would have paid for all tests, scans and consultations that diagnosed that the joint needed replacing.
The level of cover and type of treatment required will determine the exact process and interaction between the NHS and your Medical Insurance but the main variation depends on whether the policy includes outpatient cover.
Without any outpatient cover you run the risk of having to go through the NHS outpatient waiting list for diagnostic testing and initial consultations, potentially delaying your care.
Taking out Health Insurance provides you with access to cutting-edge cancer treatment, including drugs and procedures that don’t tend to be available on the NHS because the cost is prohibitive.
Other benefits of private cancer care can include:
Where each insurer has their own policy wording we cannot say for sure but there are a number of exclusions which are reasonably consistent across all UK Health Insurance policies.
No one can deny that the NHS does a fantastic job but, especially recently, funding and resources have been stretched. This has resulted in delays to care.
According to NHS statistics…
Private healthcare can help you skip these waiting lists for all eligible treatment, i.e. an acute condition that you didn’t have before you took the policy out.
How much Private Health Insurance Costs depends on a variety of factors, including:
To work out the average cost of Health Insurance below, we’ve searched all the major players in the UK market and assumed:
With these assumptions we have calculated pricing of a Mid-Range Health Insurance policy for different age groups as well as for individuals, couples and families.
One of the most important decisions to make when setting up your Private Medical Insurance is the type of medical underwriting you choose. When taking out a personal policy you have a couple of options:
The most common type of medical underwriting for Health Insurance. Rather than asking about your medical history in full it simply excludes most pre-existing medical conditions you’ve suffered from over a set period, usually the past 5 years.
Full Medical Underwriting
You will need to disclose your entire medical history to the insurer from the start. As a result the insurer will take your health into consideration and any exclusions due to pre-existing medical conditions will be set out from the inception of the policy.
There is no hard and fast rule whether moratorium or full medical underwriting will be the best option for you, so much depends on your personal circumstances and your state of health.
To ensure you choose the most appropriate underwriting speaking to an expert can really help, if you need any support please do hesitate to pop us a call on 02074425880 or email firstname.lastname@example.org.
Below are the top 5 Health Insurance companies in the UK. To read more about them, check out our Health Insurance review pages here >>
Aviva is the largest insurer in the UK. Aviva’s PMI offering is their Healthier Solutions product, which you can tailor to your own budget.
Based in Tunbridge Wells, AXA PPP Healthcare has helped people to access healthcare services since 1940.
Established over 60 years ago, Bupa is a UK household name. Bupa Health Insurance has two tiers of over: Comprehensive (full inpatient and outpatient care) and Treatment & Care (inpatient-only). Both options include mental health cover as standard.
Founded in 1927, Exeter Family Friendly is a mutual Friendly Society with over 60,000 members. The Exeter’s Health Insurance policy is known as The Exeter Health+, which includes mental health cover as standard.
Vitality (formerly PruHealth) launched in October 2004 as a joint venture between Prudential and South African health insurance provider Discovery. Vitality has an innovative approach to health insurance in their Vitality plan, rewarding you with points and reduced premiums for healthy living.
Being health insurance brokers we can talk you through your options to ensure you gain the cover you want, without any unexpected limitations.
If you have a pre-existing medical condition we are also able to speak to the underwriters at each insurer to try and gain you the most favourable terms available in the market.
We started Drewberry because we were tired of being treated like a number and not getting the service we all deserve when it comes to things as important as protecting our health and our finances. Below are just a few reasons why it makes sense to talk to us.
I had the pleasure of dealing with Jake Mills in organising my insurance. Jake was fantastic to deal with — his patience and understanding really helped.