What would you do if you needed an operation and had to wait for several months for treatment on the NHS? Even worse it could be a family member who needs treatment, if you have health insurance they would receive treatment in a private hospital in days, not weeks or months. However finding the best health insurance is not just about paying the least amount of money, it also about finding the right level of cover for you.
Private health insurance gives you access to private medical treatment in a private room of a private or NHS hospital when you need it, not when treatment is available on the NHS. By shopping around you will be able to compare prices and cover and choose the right policy for you.
How to Buy the Best Health Insurance?
Choosing the best health insurance is very complicated and you should get advice if possible. If you buy with advice the adviser has to make sure the policy is suitable. However if you buy medical insurance without advice then you need to make sure it is suitable. Whichever way you buy it you need to make sure that you understand what is and isn’t covered. You should also read the terms and conditions and also tell your family what you are doing.
How to Cut the Cost of Private Medical Insurance?
The easiest way to reduce how much you have to pay for private medical insurance is to limit the illnesses it covers, the level of cover, or the number of hospitals you can use if you become ill. Here are some ways to cut costs but still get the best health insurance cover.
Limit the type of Illnesses Covered - Some private medical insurance policies only cover cancer or heart conditions, for example.
Choose a Lower Level of Private Medical Insurance Cover – The more comprehensive the cover the more you will pay. You can save money by choosing a less comprehensive policy.
Choose a Higher Excess - One way to reduce your premium is to opt for a higher excess (this is the amount you have to pay towards the cost of treatment in the event of a claim).
Healthy Living can reduce your Private Medical Premiums - Living healthily could not only improve your life and help you live longer, but it could also cut the cost of your private medical insurance premiums.
Contribute to the cost of treatment - You can reduce your premium if you choose a policy where you contribute to the cost of treatment and pay, for example, 10, 25 or 50 per cent of the cost of treatment.
Treatment on the NHS – You can save money if you choose a policy where you are treated on the NHS if the waiting list is less than a certain period, such as, six weeks.
Fewer hospitals for treatment - The most expensive policies allow you to be treated in more than 400 private and NHS hospitals. Cheaper policies give you access to fewer hospitals.
Shop around for Private Medical Insurance - The best way to make sure you buy the right policy at the best price is to shop around.
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. Quotes for medical insurance are free and you are under no obligation.