Question 1

Can I Get Private Health Insurance After 65?

Accepted Answer

Yes, it is possible to take out Health Insurance after the age of 65. Not every provider will be willing to offer terms for Senior Health Insurance after this age, but there are plenty that will. Some even have insurance aimed specifically at the over-50s.

Most insurers typically have a maximum age at which you can take out cover. For some this is 65; for others, however, it could be as high as 80.

If you already have Health Insurance and you’re approaching your 65th birthday, there’s no need to panic. Most insurers will allow you to continue on paying for cover after your 65th birthday if you had cover before this date, as long as you keep paying premiums.

Health Insurance for seniors is going to be more expensive than cover for younger people simply because at this age policyholders are more likely to claim.

Common ailments treated in retirement include the need for joint replacements, for example, which form a sizeable proportion of claims after the age of 65 and can cost more than £10,000 per joint replaced.

Question 2

How Much Does Health Insurance Cost for a 60-Year-Old?

Accepted Answer

It is difficult to say how much Health Insurance will cost as it is specific to your home postcode, your current health and your cover requirements. For a very rough idea a Health Insurance policy for someone aged 60 could cost around £150 per month for a standard mid-range policy.

There are many ways to reduce the cost of cover and secure cheaper premiums which you may want to consider as a senior looking for Health Insurance:

The above prices are for mid-range policies, meaning they pay for inpatient cover and then limit outpatient cover to a set monetary amount of treatment per policy year. The next level down, a basic policy, only pays for the inpatient treatment you need, such as surgeries, and not any outpatient cover. You’d therefore need to have all diagnostic work undertaken by the NHS before using private inpatient facilities, but this could be a way to reduce the cost of your policy.

The excess on the above policies is set to £250; many providers allow an excess up £1,000 per policy year, so if you have the capacity to fund the first £500 or £1,000 of your treatment yourself this may be an option for you to to reduce the cost of Health Insurance premiums.

Another option might be to reduce the hospital list you’re entitled to have treatment in. Hospital lists arrange from private wards in NHS hospitals all the way up to pricy Central London hospitals and facilities, such as those on Harley Street. Opting for a lower tier of available hospitals could save you cash each policy year.

The last major way to get cheaper Health Insurance is to consider implementing the 6 week NHS wait option on your policy. This means that if the treatment you’re entitled to is available on the NHS in your local area with a wait of less than 6 weeks, you’ll use the NHS for your treatment. It’s only if the treatment you need either isn’t available on the NHS or the wait is longer than 6 weeks that your Health Insurance policy kicks in.

This strikes a good balance between having the option of fast treatment — in 6 weeks or less — but reducing the cost of the policy.

Question 3

Is Health Insurance Worth It?

Accepted Answer

NHS waiting lists are growing, and they’re only going to keep growing based on the trends of an ageing, sicker population unless there’s a drastic funding increase for the health service each year for the foreseeable future.

Common treatments such as joint replacements, cardiac bypass surgery, cruciate ligament surgery, cancer care and other services provided by Private Health Insurance are all more likely to be required the older patients become. The waiting list for ‘routine’ surgeries on the NHS, such as joint replacements, can be weeks or even months.

While treatment for cancer and cardiac issues is dealt with much faster under the NHS, you don’t get to choose your surgeon or the facility you receive your treatment in as you would under Private Health Insurance.

Although Senior Health Insurance can be expensive compared to when you were younger, many people prefer to have it as a security blanket so that they know that, should something go wrong, they can have the treatment they need quickly in a comfortable, private setting.

Senior Health Insurance

What is Senior Health Insurance?

What Does Senior Health Insurance Cover?

Do I Need Senior Health Insurance?

Can I Get Health Insurance for the Over-60s?

How Much Does Retiree Health Insurance Cost?

Cutting the Cost of Senior Medical Insurance

Excess

6 week NHS wait

Hospital list

Example Costs of Senior Health Insurance

Common Senior Health Insurance Questions

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