Private Health Insurance
Why choose private health insurance?

You may wonder: why choose private health insurance? Well, all of us want to enjoy full health and if something affects it - such as an illness or accident – getting seen and treated as quickly as possible will be a priority. And while in the UK we are lucky enough to be able to access medical assistance for free with the NHS, often there may be quite a long wait involved until you get an appointment. Plus, it may well be at a time and place inconvenient to you.
And this is where private health insurance may be so useful.

What does it do?

Also known as private medical insurance (PMI) or simply medical cover, you may wish to choose a private health insurance policy because it can typically help meet costs associated with illness, disease and accident by paying for:

• private consultations:
• tests as an in- or out-patient;
• surgery and nursing care;
• other medical costs;

..and usually at a time and location convenient to you.

This means that rather than waiting for an appointment, with all the potential worry and pain, you can start to receive the medical assistance you need - promptly. The NHS Constitution states that no one should wait more than 18 weeks for consultant-led NHS treatment* – but 18 weeks is still a long time - and especially if your lifestyle is affected by your illness or injury. For example, a bad back that keeps you in pain and maybe away from work (and potentially on a reduced income) for over four months is quite a frightening thought, both emotionally and financially.
If you choose a private health insurance policy, you will typically be seen much sooner and you can get your back problem hopefully resolved; the pain managed or removed; and get back to work as soon as possible.
This is why some of the larger companies in the UK give their employees corporate healthcare cover – they realise that the sooner a health issue can be addressed and resolved, the better it will be for their staff (physically and psychologically) and for the business.

Considerations

Now that you have seen how a private medical insurance policy works, do bear in mind the following considerations when you choose private health insurance:

• PMI policies offer different levels of cover – higher levels of cover may offer you immediate assistance at a hospital of your choice. Limited cover private health policies may have a waiting period before you can see someone and / or a restricted choice of hospitals. These latter policies tend to be cheaper than the more flexible levels of cover. This means that you can match PMI cover to your budget;
• exclusions – as with all insurance policies, private medical insurance policies will come with exclusions. These do vary among providers but typically pregnancy; cosmetic surgery; drug or alcohol-related illness or injury; pre-existing illnesses; and AIDs, are not covered. Make sure you check the small print so you fully understand what any policy exclusions may be;
• joint and single policies are available.
  

So, if you do decide to choose private health insurance, fully investigate all the different options available to you. Shop around and compare PMI policy terms and conditions, as well as the price. That way you can get affordable peace of mind that your health will get the best of attention if it needs it.

* Source: NHS