12 Tips for Finding the Right Health Insurance

Benefits of Private Medical Insurance- Quick Summary!

1- What do you need from health insurance?

Before you decide on health insurance, think about why you need it. Whether it’s for faster treatment or covering pre-existing conditions, this will influence your choice of plan. With concerns about NHS wait times and the need for family support, finding the right insurance provider is important. Consider what’s most important to you and align it with the available coverage options. Ultimately, aim for a plan that fits your needs, providing peace of mind for you and your loved ones.

Consulting a private health insurance broker in the UK can provide personalised advice, helping you navigate the various options based on your unique needs.

2- Decide who will be included in the policy

The next step is deciding who will be covered under your private health insurance plans. Your choice between individual, couple, or family coverage significantly influences the cost and the specifics of the coverage you receive.

For instance, insurers like Bupa, Aviva, and Freedom Health may offer policies where you pay only for the first child, with additional children included for free. Many insurers also provide discounts for your partner if you include them in your policy. A private health insurance broker in the UK can assist in comparing these options to find a plan that best suits your family structure and financial situation.

3- What plan is best for you?

When choosing health insurance, it’s important to understand what it includes. Each plan comes with a core cover, like some outpatient care, full inpatient treatment and comprehensive cancer cover. You can also add extra benefits, such as mental health, therapies, travel insurance, dental, optical and audiology cover.

Core Cover

Hospital and Day Care Treatments

When getting private health insurance for children, it’s important to think about what it covers. This includes treatments where they stay in the hospital overnight known as inpatient care and procedures where they go home the same day known as day-patient care. The insurance usually pays for these treatments, including staying in a private hospital room that’s like a hotel room.

Comprehensive Cancer Support

Since cancer is common, most health insurance plans include cancer coverage health insurance. This cover helps you pay for treatments like surgery, radiotherapy, and chemotherapy. With this insurance, you can ensure access to these vital treatments when needed, giving you peace of mind about your healthcare needs. Additionally, some plans even include coverage for other treatments and medications not easily accessible through the NHS, further enhancing your healthcare options and support.

Mental Health Support

Nowadays, most private health insurance for mental health includes mental health support. This means you can access helplines and online resources easily. Some plans let you get counselling or therapy without needing to see a doctor first.

Also, health insurance benefits can help with mental health, like discounts on apps such as Healthwise from the Exeter, offering online counselling for pre-existing conditions. It’s clear that private health insurance values mental well-being, offering hotlines, online resources, and sometimes direct referrals for therapy sessions.

Virtual/ Online GP

Since COVID-19, many insurance companies now include virtual GP services as part of their standard offerings. This means you can quickly get the appointments you need through an app. If you’re having trouble booking appointments with your regular GP, virtual GP services are a handy option. They’re available all day, every day, making it easier and faster to talk to a doctor when you need to.

4- Explore Additional Benefits

When you buy private medical insurance in the UK, considering optional add-ons is a step you cannot overlook. These add-ons, from outpatient treatment to dental, optical care, and alternative therapies, allow for a more tailored insurance plan.

You may customise your cover by adding additional benefits to the core cover. Most add-ons have an additional cost, however, certain alternatives, such as the 6-week option or lowering your outpatient cover, will lower your premium:

5- Find a flexible plan

When you start looking into family medical insurance in the UK, you’ll find that each company offers plans differently. Some have set packages with different levels of cover, which can be good for comprehensive protection but might include things you don’t need.

On the other hand, flexible private medical insurance lets you customise your plan to fit your needs and budget. You can prioritise coverage for diagnostic tests and cancer treatment, for example, while skipping alternative therapies if they’re not important to you. It’s about getting the right family health insurance plans you need without paying for extras you won’t use.

6- Incentives you might consider

Health insurance policies often come with extra benefits beyond basic coverage, like free coffee and discounted movie tickets. These benefits not only enhance your lifestyle but can also help offset premium costs. For families, these benefits can make outings and vacations more affordable.

Vitality’s private health insurance focuses on improving members’ health and offers rewards for achieving wellness goals. Their incentives include an Apple Watch for hitting step targets, discounts at various retailers, and even free coffee from Caffe Nero for reaching daily step goals. These additional benefits make choosing the right health insurance policy more rewarding and enjoyable.

These benefits can translate into tangible savings for families looking to buy private health insurance for children, making family outings and vacations more affordable. These added benefits transform the insurance from a financial safety net into a lifestyle enhancement tool.

7- What should I consider before taking out family health insurance?

There are some questions you’ll need to ask yourself before making any concrete decisions on your family’s health insurance plan. Before inquiring about a quote from health insurance companies, you’ll first want to compare the family health insurance policies of various insurance providers.

Also, some family-focused plans offer broad coverage. With that considered, there are some things to keep an eye out for when shopping around for the right private medical care for your family.

A good family health insurance policy includes the following:

• Inpatient Consultant fees and Inpatient
• Access to special treatments
• Online GP & specialist visits
• Semi-private/private rooms

Things to consider before taking your family health insurance:

• Age, the cost of the premium is raised with age
• The type of treatment your family requires
• Hospitals that you would like to be treated, Private vs NHS hospitals
• Your family’s medical history alongside any existing medical health issue

8- What is excluded from the policy?

While private medical insurance covers many things, like physiotherapy, diagnostic tests and hospitalisation, some exclusions are unlikely to be covered, including:

• Chronic conditions
• Pre-existing conditions
• Cosmetic surgeries
• Prescriptions
• Pregnancy and childbirth
• Professional sports injuries

Chronic Conditions

Most health insurers in the UK will certainly not cover chronic conditions that are classed as ongoing and require long-term treatment, have no cure or are likely to come back. Conditions classed as chronic are

• Asthma
• Arthritis
• Chronic obstructive pulmonary diseases
• Diabetes
• Heart, liver and kidney disease
• Crohn’s disease
• Some types of Cancer
• Other diseases which cannot be cured.

However, depending on the circumstances, insurers may consider treating a chronic condition that has suddenly worsened and can be treated to return you to your previous state of health.

9- What Underwriting options are available?

Health insurance underwriting refers to the process by which insurance companies assess the risk of insuring an individual or group and determine the terms, conditions, and premiums for the policy. There are generally two types of health insurance underwriting in the UK:

Moratorium Underwriting– In this type of underwriting, the insurance company does not ask detailed medical questions at the time of application. Instead, they may impose a waiting period during which coverage for pre-existing conditions is excluded. After a certain period, typically 2-5 years, the waiting period may be lifted, and coverage for pre-existing conditions may be included, subject to the policy terms and conditions.

Full Medical Underwriting– In this type of underwriting, the insurance company assesses the health status and medical history of the individual or group applying for coverage. This may involve asking questions about pre-existing medical conditions, previous treatments, medications, and lifestyle habits. Based on this information, the insurance company may offer coverage with certain exclusions, limitations, or higher premiums for individuals or groups with pre-existing conditions or higher health risks.

10- Treatment Preferences and Hospitals

When picking a health insurance plan, consider where you want to get treated first. Most plans have a list of hospitals and treatment centres they cover, which might include private facilities and private rooms in NHS hospitals. This choice is important, especially if you have specific needs for care quality, access to certain facilities, or location convenience.

Insurers often offer different hospital lists, especially in major cities like London where costs are higher. These lists might cost more but give you access to a wider range of treatment centres. Review these lists carefully and think about your healthcare needs to pick the best plan for you without overspending.

11- Budget is important

Choosing the right insurance is more important than finding a cheap health insurance plan. Once you’ve decided what kind of cover you need, start looking for the most affordable plan that meets your requirements. By taking the following steps, you can cut health insurance costs and reduce your monthly premium:

• Consider the six-week option with your plan. Some health insurance plans only cover benefits if the wait for the NHS is greater than six weeks. You might be able to save a lot of money with such a policy
• Cover only conditions for which you’d like to receive private medical care: Don’t pay more for a procedure if you’d be happy to have it done on the NHS.
• Avoid adding too many extras because they raise the cost of your monthly premium. Never spend money on items you don’t think you’ll use.
• Reduce the number of hospitals on your list. Less private hospital options may result in lower premium costs.
• Maintain a healthy lifestyle to qualify for discounts from some insurers. Non-smokers, non-vapers, active people, or those with lower body mass indices (BMI) are likely to have access to the best prices.

12- Shop around

Choosing health insurance is a crucial decision that affects your health and finances. It’s important to explore different options and compare what each insurance company offers. Private medical insurance brokers are experts who can guide you through this process. They will explain if certain conditions are covered or excluded in the policy.

Additionally, they can help you reduce your premium and save money on renewal. For example, your broker could save you up to 38% on your premium when it’s time to renew your policy. With their expertise, you can make informed decisions about your health coverage while saving money.

Find Your Perfect Match with Premier PMI’s Health Insurance

At Premier PMI, we pride ourselves on offering personalised health insurance solutions that cater to the unique needs of each individual and family. Understanding the intricacies of health insurance, from selecting the right treatment locations to budgeting for your premium, is at the heart of what we do. Our approach ensures you can choose where and how you receive medical care, whether it’s access to private facilities or specific treatment centres across the UK.

We recognise the importance of balancing comprehensive coverage with affordable costs. That’s why we offer guidance on tailoring your health insurance plan, ensuring it fits your budget while providing the coverage you need. Whether it’s advising on the optimal policy excess or exploring options like the 6-week wait clause, our goal is to make your health insurance as cost-effective as possible.

For those navigating the complexities of health insurance and seeking the best medical insurance for mental health, Premier PMI is here to help. Our team of experts offers tailored advice and compares plans from across the market, ensuring you make an informed decision that’s right for you and your loved ones.

Contact us today to discuss your health insurance needs and discover how we can provide you with the protection and peace of mind you deserve.

Stuart Hendy, Senior PMI Advisor &Editor

Stuart Hendy is a highly experienced health insurance broker with extensive knowledge of private medical insurance and private treatment. His expertise is frequently sought by industry professionals and his insights have been featured in leading financial publications. Stuart is committed to providing his clients with the best possible healthcare solutions and empowering them to make informed decisions.

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