Self Employed Health Insurance offers individuals who work for themselves access to private healthcare.
The UK’s growing army of self-employed workers – both sole traders and company directors – rarely get any sick pay and so can’t afford to be off work for long periods waiting for treatment on the NHS.
Opting for Private Health Insurance can often get you treated and back to work faster than if you’d waited for the NHS.
There are a number of additional options but the foundations of private medical insurance are built on two types of cover:
These options generally define what types of treatments that you can claim for on your policy. A serious surgical procedure, for example, would normally be covered under inpatient treatment and so would automatically be covered by your policy.
An x-ray or blood test, on the other hand, would fall under outpatient care, so you would need to add outpatient cover to your policy in order for your insurer to cover the cost.
Medical conditions tend to either be defined as acute or chronic:
Self Employed Health Insurance will typically cover most acute health conditions, providing they are not pre-existing. Chronic conditions are not usually covered, however – for these you’d need to use the NHS.
To read in more depth exactly what’s covered by PMI, check out our guide ‘What Does Private Health Insurance Cover’.
You will have a fair few decisions to make when comparing Self Employed Medical Insurance policies as it is important to make sure you are comparing apples with apples.
These key options will have a considerable impact on the cover of your policy and the cost.
The 6 week NHS wait option only applies to inpatient treatment, i.e. that which requires a hospital bed. If you’ve added outpatient care to your policy to get cover for diagnostic tests / scans etc., these will still take place privately as soon as possible.
Health & Wellbeing Expert at Drewberry
Self employed professionals do not always have the luxury of taking a break from work if they fall ill or injure themselves – for many, a health problem may stop them receiving income entirely until they recover.
This would be problematic given that certain types of treatments and medical procedures require weeks if not months of waiting on NHS waiting lists for some patients.
If you suffer from an injury or illness, how confident are you that you will get the fast and efficient care you need?
Waiting times are one of the most prominent issues people face, especially if the treatment you require is in particularly high demand.
With private healthcare, however, you can receive fast diagnosis and treatment of conditions that keep you away from your work.
Adding outpatient care and therapies means you’ll receive prolonged support and care for your health condition to speed up your recovery even further and provide you with comprehensive care.
The cost of cover will differ depending on your personal circumstances and how comprehensive the policy is.
There are some personal details that affect the cost of Private Medical Insurance which you will not be able to control, such as your age. As you get older, you become more susceptible to health problems and so your insurer will likely increase the cost of your policy.
Other details that affect the cost of your policy include:
The options you choose when setting up your policy will also have an impact on the cost of your policy, although with the right options you tailor your cover to your needs and reduce your premiums.
The cost of Health Insurance will be determined by many different factors, including your age, occupation, medical history, location and various policy factors, such as your excess and how comprehensive you’re looking for the policy to be.
To come up with the below premium prices for self-employed adults, we’ve assumed:
To see for yourself how much you can expect to pay, try our Private Health Insurance Calculator.
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.
Health Insurance is one of the more complex insurance products to compare due to the many different combinations of cover options available.
That’s why it is worth it to speak to a professional who knows these policies inside and out – why not get in touch today?
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.
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 firstname.lastname@example.org.
Head of Employee Benefits at Drewberry
Martyn Coates from Drewberry provided an excellent service with prompt handling of any question that we asked him. I would highly recommend Drewberry for anyone wanting Insurance.