Private Health Insurance
What is private medical insurance?

The aim of private health insurance (also known as PMI which stands for private medical insurance) is to provide you with medical attention typically faster than on the NHS, and at a time and place convenient to you.

There is no doubt that the NHS service is invaluable and in the UK we are very lucky to have it. However, when there is something wrong with you, you will want to be seen by a professional as soon as possible for peace of mind and reassurance, as well as to get back to full health.
Private health insurance can typically help you in circumstances such as this, giving you access to private medical treatment (generally at a hospital of your choice and at a time convenient to you) if you need it, including specialist tests and consultations.
And the good news is that cover can be affordable too, with PMI providers typically offering different levels of cover at different prices, enabling you to choose the one that most suits your budget.
What the cover can do.

As discussed above, health insurance policies can vary by the level of cover offered, but a typical hospital plan may offer all or some of the following benefits in the event that you fall ill or suffer an injury:

• in-patient treatment (with your own ensuite room so you have privacy);
• out-patient treatments such as consultations and tests;
• surgery and hospital aftercare;
• a choice of hospitals (though some providers offer limited cover - which tends to be cheaper – where you have a choice of named hospitals in your area that you can attend);
• prompt treatment.

What is not covered?

It is important to note that private health insurance policies are designed to offer you prompt medical assistance when you need it, but there are some things that it will generally not cover, such as accident and emergency treatment as well as cosmetic surgery; pregnancy; AIDS; pre-existing medical conditions; and drug or alcohol related illnesses; etc.

The Cost

Private healthcare is no longer the domain of the affluent only – the latest figures show that around 7.33 million Brits have some form of private or corporate medical cover* - and with flexible levels of protection available from PMI providers, cover may often be tailored to suit your budget.

Private health cover premiums can be influenced by many things including:

• your age;
• whether you make a claim (some providers offer no claims discounts);
• the level of cover (eg a policy where you have a six or twelve week wait for treatment will typically be cheaper than one with no such restrictions);
• if you choose to pay an excess (which is where you pay the first part of any claim);
• whether the cover is for single or joint cover.;

In summary, if you are considering private health insurance, affordable cover can be found, as well as different levels of protection, meaning that you can choose the hospital insurance plan most suited to your needs, circumstances and your budget.

*Source: ABI April 2009 - this includes individual and corporate cover