Which private health insurance plan is right for me?
There are many types of private health insurance to choose from. Depending on your budget and your needs, you can opt for private medical insurance, dental insurance plans and cash plans.
Invest what you can in your health
The more you invest in private medical insurance, the more you and your family are protected. Comprehensive plans offer wide-reaching cover that give you peace of mind in many situations except accidents and emergencies. Budget private medical insurance does not usually cover you for out-patient treatments such as physiotherapy. There may also be other exclusions such as psychiatric treatment.
How can I lower my premiums?
The cheapest cover will typically be a plan with high excess - this is the amount you pay before the insurer pays the remainder of the treatment cost. Some lower cost plans will only pay for private treatment if the NHS waiting list is longer than six weeks from the date the treatment should take place.
You can also reduce the cost of cover with some plans by paying annually instead of monthly.
What is a cash plan?
Cash plans pay out for everyday healthcare bills such as from your dentist, optician and physiotherapist. They are low-cost ways to top up your income, but you should not view them as a substitute for insurance.
Self pay explained
For those who can afford it, paying for your own treatment is an increasingly popular option. There are some companies who specialise in helping you find the best deals by negotiating with private hospitals directly on a case-by-case basis. However, costs can be extremely high in self pay and it is beyond most people's budgets.
What about when I'm travelling overseas?
In most cases, your private healthcare plan won't cover you comprehensively for treatment needed while overseas. But you can take out a Travel Plan which offers comprehensive cover that often includes lost luggage, delayed flights, accidents and ill health.
Checklist:
Before you buy private healthcare, consider these points:
- Does the cover only operate if there is an NHS waiting list of six weeks or more?
- Are there any restrictions for treatment and operations?
- What is the maximum level of cover?
- Will you have a choice of hospitals?
- Will you have your own room with ensuite facilities?
- What exclusions apply to the policy?
- What excess applies to the policy?
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