Insuring your home or car is a no-brainer, but some people aren’t sure why health insurance can be a good idea.
Why get health insurance?
Health insurance, also known as private medical insurance, is designed to ensure that if you need medical treatment in future, you won’t need to worry about NHS waiting lists or paying for the cost of the treatment.
If you’re treated privately, health insurance will pay all or some of your bills.
It should get you diagnosed and treated quickly, as well as offer you a prompt referral to a consultant and admission to a private hospital at a time and place that is convenient for you.
With health insurance, you’ll have a choice of private hospital from an agreed list provided by your insurer – most hospitals offer a private en-suite room, TV and a choice of food, which you wouldn’t necessarily get as a normal patient.
In short, the main benefits of private health insurance are:
Shorter waiting times for treatment on the NHS
Choose from a range of private facilities
Choose a convenient time for appointments and treatments
What it does – and doesn’t – cover
Health insurance covers an array of things, including exclusive drugs, hospital stays, scans and surgical procedures.
Inpatient treatment is when you require a hospital bed, and is covered with most plans.
Outpatient treatment means you visiting external specialists or consultants, and is usually available on more expensive policies. Different plans will offer different options.
Not usually covered, however, are any existing, chronic problems, A&E visits, drug abuse, organ transplants, normal pregnancy and non-essential cosmetic treatments.
What are the different types of health insurance?
When considering private medical insurance, there are typically two types of cover: moratorium underwriting and full medical underwriting.
With moratorium underwriting, you only need to give limited information to your provider. The insurer will not cover you initially for any conditions that have affected you in the past few years; they will let you know how long for…..Read more>>