Private Medical Insurance
Medical care in the UK is generally available without charge via the National Health Service (NHS). However, increasingly there are occasions where this treatment cannot be provided promptly or a treatment option is not available via the NHS. Delays in getting treatment can result in prolonged discomfort or inability to keep up employment. For these and other reasons, many people arrange Private Medical Insurance or have it provided via their employer. Read on for more information or visit the FAQ section below.
What is It?
An insurance designed to cover the cost of private medical treatment for ‘acute conditions’ that start after your policy begins.
It is available in a range of levels of cover and various premiums to meet the needs of different customers. You can make choices around the types of treatment covered, the level of cover that will apply to those treatments, the location where your treatment is provided and the contribution (or excess) that you might be willing to make to the treatment cost.
How Does It Work?
Like all insurance, the cover you get from private medical insurance depends on the policy you buy and who you buy it from.
The more basic policies usually pick up the costs of most in-patient treatments – such as tests and surgery – and day-care surgery. Some policies extend to out-patient treatments – such as specialists and consultants – and might pay you a small, fixed amount for each night you spend in an NHS hospital. Most policies will cover:
- The cost of hospital admission
- Diagnostic tests, such as MRI and CT scans
- Surgery
- The costs of seeing a consultant
- Hospital accommodation and nursing care
- Cancer drugs - some polices will include drugs that are not available on the NHS
More expensive policies may also include:
- Outpatient consultations
- Mental health treatment options
- Complimentary therapies
- Physiotherapy and chiropody
Can You Claim More Than Once?
Yes. You can make as many claims as you need during the policy.
On a Tight Budget?
Private Medical Cover provides comprehensive insurance for medical treatment but it may not be within your budget. As an alternative, you might consider a Medical Cash Plan. These are not designed to help with major medical treatments but can help you afford regular medical bills, complimentary therapies or to have an private appointment with a specialist. Often available for just a few pounds a month, regardless of age or health history, these policies will usually provide benefits such as:
- Money towards dental treatment
- Money towards optical care
- Money towards a consultation with a private clinician
- Money towards osteopathy, chiropractic treatment, acupuncture and more
- A cash benefit if you are in hospital
- Money towards prescription costs
Contact us for more details.
Why Might I Need Private Medical Insurance?
- Get the diagnostic tests you need, promptly. - If the NHS delays a scan, or won’t let you have one, you can use your cover to pay for it.
- Reduce waiting time - You can use your insurance to reduce the time you spend waiting for NHS treatment.
- Choose your surgeon and hospital - You will often be able to a surgeon and hospital to suit your requirements, which isn’t possible on the NHS.
- Get a private room - You’re more likely to get a private room, rather than stay in an open ward.
- Specialist drugs and treatments might be available - Some aren’t available on the NHS because they’re too expensive or not approved by the National Institute for Health and Clinical Excellence in England and Wales (NICE) or the Scottish Medicines Consortium (SMC).
- Physiotherapy - You get quicker access to physiotherapy sessions if you have insurance than you likely would through NHS treatment.
- Around one in five private patients already use their own funds to access some type of private medical treatment. However, the costs may be prohibitive. Hip and knee replacements cost an average of £10,000 each, while MRI scans cost from £500. Private Medical Insurance may enable you to access treatment which would otherwise be unaffordable for you.
DON’T FORGET!
Private medical treatment is designed for ‘acute conditions’ which start after your policy begins. An acute condition is a disease, illness or injury that is likely to respond quickly to the treatment that aims to return you to the state of health you were in immediately before suffering the disease, illness or injury, or which leads to your full recovery.
Your insurer will typically not cover ‘chronic conditions’. These are diseases, illnesses or injuries that have one or more of the following characteristics: needs long-term monitoring, control or relief of symptoms, requires rehabilitation, continues indefinitely, and has no known cure or is likely to come back.
You will normally not be covered for any illnesses you are currently suffering from or have already had. However, you may be able to get cover for some preexisting medical conditions by paying a supplementary premium, or if you meet certain criteria. This will likely include an underwriting process.
Carry on reading to see some Frequently Asked Questions about Income Protection Insurance or contact us to request a quote.
PRIVATE MEDICAL INSURANCE FAQ
Here are some common questions asked about Private Medical Insurance. Got a question that is not covered? Send it to us and we will answer it for you and maybe add it to the list below.