Answered by Andrew Jenkinson
With private medical insurance there are many different insurers and products available which cater to a huge range of needs.
What would affect my premiums?
There are a mix of factors that can affect the premiums of your student health insurance plan from your own personal factors such as age and smoker status to the level of cover provided by the plan. Take age for example, unfortunately growing old is a part of life and with it tends to come more aches and pains and as a result private medical insurance premiums tend to rise with age.
Getting the right health cover…
Student medical insurance like any form of cover is made up of two core components in the level of inpatient / day-patient treatment and outpatient treatment that is covered by the plan. Although products can vary considerably many of the mainstream insurers core products cover inpatient and day-patient treatment in full. Thus should you have a more serious condition and require a stay in hospital such a plan would cover these costs in full.
However, it is the level of outpatient treatment provided by the policy which has the biggest bearing on the pricing. Outpatient Cover will often include scans, specialist consultations and diagnostic tests where a stay in hospital is not required. A very basic plan may offer no outpatient treatment while the most comprehensive may cover such treatment in full.
To contain the premiums there are elements you can adjust to ensure your private health plan comes in within budget, this includes considering an excess and altering the hospital list. See – Ways to Reduce Health Insurance Premiums.
Many insurers now offer policies which have elements that can be mixed and matched to suit your requirements and budget. As with any individual taking out a health insurance plan it is important to review the insurers terms to understand the intricacies of cover provided if in doubt seek the advice of an expert. We are here to help, all it takes is a phone call or a quick email and we can help you through the process.
Frequently Asked Private Medical Insurance Questions
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