When you get sick or injured, the only thing you should need to worry about is recovery. Along with that should come a fast diagnosis and robust treatment plan because your health is the most important thing, along with the health of your family. That’s why private medical insurance could make all the difference if something were to happen to you or someone in your family.
This does not constitute advice and advice should be sought in all instances before acting on it.
Even though you have access to free NHS care, private medical insurance can help you feel more in control of your treatment by letting you choose when, how, and where you’re treated.
Private medical insurance, often referred to as health insurance, does not cover any pre-existing conditions, but it does allow you access to private healthcare for conditions that develop after your policy has started.
Focus on healing
The biggest appeal of private health insurance is that there is virtually no waiting time for treatment, which means you’ll be seen quicker and you’ll be able to deal with whatever problem you’re having swiftly and effectively and return to living your life.
Over the last few years, the wait time for non-life-threatening procedures has increased and the problem was only exacerbated with the emergence of the coronavirus.
There doesn’t seem to be an end in sight to these extended wait times, so it stands to reason that there’s never been a better time to get private health insurance. Even if it’s not part of your employee benefits package, consider weighing whether or not the extra cost is worth it. If you can afford the expense, it could go a long way in providing you with peace of mind.
The main benefits of private medical insurance:
- Shorter waiting times for treatment
- Better facilities
- Faster diagnosis
- Choice from a range of private facilities
- Convenient time for appointments and treatments
What does it cover?
As with all insurance, every policy is different, and coverage will depend on your policy and provider. Basic private medical insurance will usually cover most in-patient treatments such as tests and surgery, and some even extend to out-patient treatments like specialists and consultants. There are additional options for coverage like mental health and sports injuries, but be sure to shop around if you’d like those covered because not all policies will include them.
- Hospital admission expenses
- Diagnostic tests (MRI and CT scans)
- Consultant costs
- Hospital accommodation and nursing care
- Some policies will even cover cancer drugs that are not available on the NHS
Additionally, some may cover outpatient consultations, mental health treatment, complementary therapies, and physiotherapy and chiropody.
Two types of policies
There are two main types of policies — indemnity and cash plans. Both can have additional benefits like coverage for partners and children, health checks, and special access for cancer treatments, just to name a few.
Indemnity policies cover the costs of having private medical treatment for an acute illness or short-term injury.
Cash plan policies require monthly premiums for up to 100% coverage of costs for treatments. They provide a lump-sum benefit payment in certain situations that may not be included in an indemnity policy.
Can you afford to go without coverage?
The NHS and the workers responsible for keeping it running are fantastic, but it is not without problems. Especially at the moment when long wait times are worse than ever.
You can avoid a long queue for treatment with private medical insurance and stay secure in the knowledge that you’ll have access to treatment when you need it. To learn more about it and decide if you can incorporate private medical insurance into your personal protection plan, get in touch with us now.