For most people maintaining good health is regarded as one of the most essential components to living. Therefore, to protect their health it is always important to secure the most beneficial and protective health insurance plans suitable to them. It is well known that there are a vast number of different insurance plan options and the overwhelming amount of choice can be daunting sometimes. This is exactly where we can help as we look to inform and educate those interested in taking out a new health insurance plan.

As mentioned above, there are many different forms of health insurance and within each type there are endless different schemes and plans. This means that for each individual or family it is worth while exploring your options, researching which specific plan would work best for them. This short article will take you through the fundamental aspects of private health insurance that which you ought to be familiar with before joining the 3 million+ others on private health insurance plans in the United Kingdom.

The Fundamentals

Health insurance exists so that if you fall ill or require any form of medical assistance in the future, you have quick access to treatment without the stress of scraping together the money for the treatment or dreaded NHS waiting lists. The plans look to ensure that you are referred to a consultant to provide you with a speedy diagnosis and are admitted to a hospital most suited to your needs and situation.

Private health insurance schemes are normally obtained through an employer or through self-purchase. Depending on the plan, however, you must bear in mind that purchasing private health insurance on your own tends to come at a greater cost as the fee is not split accordingly with your employer.

How do I select the right plan with all this choice?

Before selecting an insurance policy you should familiarise yourself with the different types of plans available. There are two man types of private health insurance plans: Full Medical Underwriting or Moratorium insurance.

Full medical underwriting insurance entails providing full details of your medical history when applying for your plan. This is normally done in the form of a health questionnaire. Following the competition of the questionnaire it is then up to the insurer to examine the medical history and decide whether or not to exclude any specific forms of health care from the new plan. Any exclusions made tend to be permanent, however, reviews can be applied for further down the line.

Things to note:

These plans tend to be offered to most people customers aged 75 and over.
Serious medical conditions are often excluded from these plans.

Moratorium insurance does not involve any previous health information being provided to the insurer upon taking out the plan which means that taking out a plan is and extremely quick and simple process. Instead, you must accept that there will be an exclusion of treatment for all medical conditions that you have sought advice for in the five years leading up to the start of the new policy. These plans are perfect for people have had barely had any health issues in the last five years as there would be minimal potential exclusions.

Things to note:

If within two years of taking out the plan there has been no sign of a previous medical condition that medical condition is no longer excluded from the policy.

Ultimately, people often opt for private health insurance due to the quick access to diagnosis and treatment. In the unfortunate case that you fall ill, the fast track appointments can sometimes make a massive difference. There are of course the obvious luxuries as well such as getting a comfortable, often en-suite, private room in a hospital most suited to your needs. These are a few of the positives, however, there are some things to be considered before deciding on going private.

Obviously, private health insurance comes at a cost and that cost tends to be relatively high. It is one thing to be able to afford the cost of setting up the plan but it is another thing to afford all the extra hospital bills that may arise. For example, in the event that you fall ill and it occurs that your treatment and recovery is lengthy and takes much longer than anticipated you will be subject to hospital bills and any extra treatment costs. These costs are often extensive as operations in private hospitals normally require a separate cost for a surgeon, an anaesthetist cost and hospital charges such as food, accommodation and blood tests etc. Furthermore, although your room may be luxurious in the private hotel of your choice there is always a significant chance that the private hospital may not have all the various hospital units, for example, an intensive care ward. Again, these are just a few of factors to consider before deciding to go private.

We hope that this little insight into the factors of private health insurance will assist you in forming the considerations you may make when exploring any potential plans. You can always ask your GP to put you in touch with any specialists that he may be aware of in the area and all the private insurance companies have extensive details on the plans that they offer on their websites. However, when enquiring or signing up to a plan make sure there is clear understanding and communication over what you can be charged for and when other specific costs may or may not come into play. It is crucial that these are understood by both parties to avoid any large unexpected bills coming through your letter box. Finally, we wish you good health and the best of luck in your search for a health insurance plan that suits you.


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