Private medical insurance also known as private health insurance provides access to medical treatment if you are ill. Private medical insurance gives you access to health care when you need it without having to wait for treatment on the NHS and it doesn't have to be expensive. Private medical treatment covers short-term illnesses or injuries and can include consultations, surgery and nursing care and hospital accommodation. With Private medical insurance you will normally stay in a private en-suite room in a private hospital, or in a private room in an NHS hospital.
How to Save Money on Private Medical Insurance
The best way to make sure you buy the right PMI policy at the best price is to shop around. As we search from a wide range of policies we can find the right one for you at the right price. Cheap medical insurance doesn't mean you have to sacrifice cover. Other ways you can save money on private medical insurance are:
- Increase the excess on the policy – this is the amount you have to pay each time you make a claim.
- Make sure you buy the right level of cover – you can save money by opting for less cover, for example, some policies don't cover outpatient care or consultations.
- Limiting the number of hospitals where you can be treated will save you money, but of course you will have less choice if you get ill of where you are treated.
- Choose a policy where you make a contribution to the cost of treatment – with some polices you get a lower premium in return for paying 10%, 25% or 50% of the cost of treatment.
- Some policies will give you a discount if you don't make a claim – these no claims discounts shouldn't stop you making a claim though.
- Some policies give discounted premiums if you have a healthy lifestyle or take regular exercise. You can also save money if you stop smoking, drink less alcohol, lose weight and eat healthily.
- By choosing a moratorium policy premiums will be lower – however you won't know what's excluded until you need to make a claim.
- You could pay less for private medical insurance if you choose a policy where treatment is on the NHS within certain waiting times, for example, you will be treated on the NHS if the waiting time is six week's or less.
- 9. You can save money by shopping around to find the right policy for you at the best price. As private medical insurance is complicated you should consider getting advice to help you choose.
- You should check your medical records are accurate if your insurer asks your GP for a copy of them. Mistakes could mean you pay more than you need to for private medical cover.
- Read the smallprint of the policy and make sure you understand what's covered and what's not covered by the policy. When shopping around it's important you compare like-with-like.
- Don't waste money on cover you don't need. Check if you have private medical insurance already from your employer, or if you are wasting money on insurance you don't need.
How to Find the right Private Medical Insurance
Private medical insurance is complicated and it's essential that you choose the right policy. We specialise in medical insurance cover and will search the market and help you find the right cover at the best price available. We provide no obligation quotes. Compare your options today.