Private Health Insurance is a way of providing you and your family with private healthcare.
It allows you to bypass NHS waiting lists, getting you care faster than would be available otherwise.
You’ll get superior service, such as a choice in where your treatment takes place and potentially choice of the consultants/specialists you see.
Should I Have Private Medical Insurance?
No one can deny that the NHS does a fantastic job. However, the service has faced a real-terms spending squeeze over the past decade.
At the same time, the population has become older, sicker, frailer and generally harder to treat, resulting in resources being stretched to the max.
As a result, many are looking into Private Medical Insurance to get treatment faster than would be available under NHS care.
According to NHS statistics…
- In the quarter to March 2018, there were more than 31,000 people on the waiting list for a diagnostic appointment who’d been waiting for more than 6 weeks
- Meanwhile, at the end of March 2018, more than 1 in 10 people waiting for hospital treatment had been waiting for more than 18 weeks.
- In the quarter ending September 2018, 18,460 operations were cancelled
- 1,255 patients were still waiting for treatment more than 28 days later after the cancellation.
Your Health Insurance Options
Our team of experts are often asked which is the best Health Insurance. However, the answer isn’t simple. There are various types of Private Medical Insurance, each with their own policy options that benefit different people with different needs. The important thing is to find the most suitable policy for you based on your needs and budget.
What is Inpatient Care?
Inpatient or day-patient care – where a hospital bed is required, either for the night or for part of a day, respectively – is a core part of all Health Insurance cover.
This will cover you for surgical procedures and all related costs.
What is Outpatient Cover?
As well as core inpatient cover, you can also add outpatient cover to your Medical Insurance policy.
Adding outpatient cover allows for diagnostic tests in the lead up to a potential operation to be done privately, rather than waiting for the NHS.
With inpatient-only cover, you’ll have to wait for the NHS to diagnose your condition before using your Private Medical Insurance to resolve the issue.
Adding outpatient treatment means you get the extra layer of cover that comes with having your diagnostic tests and potentially any therapies, such as physiotherapy, covered privately.
Which Health Insurance Underwriting?
The type of underwriting you have on your Private Medical Insurance policy is important as it may have an impact on what you can claim for, especially when it comes to pre-existing conditions.
For individuals, there are two main types of medical underwriting.
Moratorium underwriting excludes most pre-existing conditions you’ve suffered over a set period, usually the last 5 years.
If you have suffered from a medical condition in the past 5 years, you’ll need to satisfy a set period on the policy – typically 2 years – without having any treatment, advice or medication for that condition before the insurer will consider covering it.
Full medical underwriting (FMU)
With full medical underwriting, you disclose your entire medical history upfront and the insurer places outright exclusions on most pre-existing conditions.
They’ll usually rule out covering any pre-existing conditions, although there may be leeway to negotiate cover for more minor illnesses at your insurer’s discretion.
Other Health Insurance Options
As well as deciding whether you need to add outpatient cover to your Private Medical Insurance, you’ll also have a number of other options to consider. For instance, would you want to add:
- Therapies cover
Sometimes not covered as a standard part of outpatient treatment, this gives you access to therapies such as physiotherapy, osteopathy and acupuncture
- Routine dental care
While most policies cover emergency dentistry, say if you lost a tooth, as well as if you require oral surgery, routine dental care (e.g. fillings, checkups etc.) can be added on as an optional extra
- Routine optical
Again this can be added as an optional extra, giving you cover for glasses and sight tests as well as things covered as standard, such as surgery for cataracts
- Psychiatric cover
As mental health conditions can be debilitating and very tricky to treat, psychiatric cover is often included as an ‘add-on’ option to medical insurance plans for an additional cost.
Private Medical Insurance Top Tips
If you’re looking to get this cover in place, check out our top Health Insurance tips when you’re buying PMI.
Of course none of these tips are a substitute for speaking with an expert adviser, but they’re designed to give you a rough idea of factors you may want to look out for when purchasing cover.
Get Expert Health Insurance Advice
Getting Health Insurance advice is so important because setting up the most suitable product can be complicated, particularly if you have existing medical conditions. There are so many nuances to the cover that make it hard to get it right if you go it alone without the help of 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.
- There is no fee for our service
- We are an award winning 🏆 independent insurance broker who works with all the leading UK insurers
- You’ll speak to a dedicated expert from start to finish
- We are very proud of the 3640 and growing independent client reviews rating us at 4.92 / 5
- Claims support when you need it most.
- We are authorised and regulated by the Financial Conduct Authority. You can find us on the financial services register here 🧐
- Claims support when you need it most.
If it is all getting a little confusing and you want to talk through your options to make sure you find the most suitable cover please don’t hesitate to get in touch.
Pop us a call on 02074425880 or email email@example.com.