Private Medical Insurance, also known as Private Health Insurance is a policy that covers the cost of any private medical tests or procedures you might have, and works in exactly the same way as every other insurance; you pay your monthly (or annual) premiums, and your insurer pays out if you make a claim.
Not often seen as one of the ‘essential’ insurances, Private Medical Insurance is becoming increasingly popular as a way to avoid potentially long NHS waiting times as well as giving you the choice of where you receive your treatment – and who from.
However, Private Medical doesn’t cover everything, and it differs from provider to provider, which is why we take the time to find out exactly what you want from a policy before searching the market to find the product that best suits your needs.
Once we’ve found a policy that covers everything you want, at a price you are happy with, we will talk you through the application process, which will include some health and lifestyle questions, in order to set your policy up. We’ll answer any questions you may still have, before making sure any forms are filled in correctly and that your Direct Debit is set up for your preferred date.
After that it’s simply walking you through any forms that need signing and making sure that any relevant documents are sent out.
It couldn’t be easier!
Private Medical Insurance Q&A
- What Is Private Medical Insurance?
Private Medical Insurance (also known as Health Insurance) is a policy that will pay out for any private health care you receive and covers medical, surgical, and sometimes dental expenses. Health insurance will either reimburse you for any private health care costs, or it will pay the medical care provider directly.
You can take out a policy that covers just yourself, or you and a partner. Some policies cover entire families, and some policies are included in your benefits package with your employer.
Is Private Medical Insurance better than the NHS?
We all know that the NHS does an amazing job, in all honesty when it comes to critical illnesses such as cancers, heart attacks and strokes, you will be treated as a priority whether as an NHS patient or private. The big appeal of going private is that it gives you access to a wider range of treatments, as well as a choice of where you are treated. You can even request your own private room in an NHS hospital, so if those are things that would be important to you in the event of you needing hospital treatment, then Private Medical Insurance is a very worthwhile expense.
- Isn’t Private Medical Insurance Just The Same As Having Critical Illness Cover?
Not at all. Although they both relate to health and medical treatment, the similarity ends there.
Private Medical or Health insurance will cover the cost of medical treatment needed to make you healthy again.
Critical Illness Cover pays you a tax-free lump sum of money if you become ill, it's up to you what you do with the money.
- And What Does It Cover?
That all depends on the level of insurance you take out; basic, medium, or comprehensive, but Private Medical Insurance typically covers doctor and hospital visits, prescription medications, wellness care, and medical devices.
- Are There Any Exclusions?
Again, it will depend on your policy, but there are certain conditions or costs that it’s likely your policy won’t cover. These can include cosmetic treatments and organ transplants. Also, having private Medical insurance doesn’t guarantee you a place in a private hospital or a private room in an NHS hospital. It will always be subject to availability – an occupied room is occupied!
These are some of the most common questions asked about Private Medical Insurance, but it’s certainly not an exhaustive list! If you have any other questions about Private Medical Insurance, or you would like us to find the best policy for you, drop us a line and we’ll be happy to help. You may find our Healthcare section of interest.