What is a health insurance excess?
I am looking into a private health insurance plan and am unsure of whether or not I should include an excess
Answered by Tom Conner
An excess is a common option to consider when looking into private medical insurance. An excess can often range from as little as £50 per person per policy year up to over £1,000 per person per policy year.
How does an excess work?
The excess is defined as the monetary amount you wish to pay towards any treatment, it is important to look closely at the terms of any policy as some insurers require the excess to be paid per claim where others simply require the excess to be paid on the first claim in any policy year regardless of the number of claims made.
Let us assume you take out a plan with a £100 excess and it is a plan which requires the excess to be paid only once per policy year, including the £100 excess will reduce your premiums as you are taking on a proportion of the cost of a claim yourself.
Should you require treatment and opt to use your private medical insurance you would be required to pay the first £100 towards the treatment, any further treatment in that policy year related or not, would not require a further excess payment.
Frequently Asked Private Medical Insurance Questions
Excellent service renewing our medical insurance, professional advice, good rates found and excellent professional after service, highly recommended.
Nadeem was brilliant. He was very patient and worked very well with me to come up with the best solution possible for my budget. Perfect solution. Thank you very much.
Dealt with me promptly and provided me with the most cost-effective option consistent with my requirements. Very pleased and thank you.
