Find the Right Health Insurance for your Budget In the UK

What is Private health insurance?

Private health insurance is a type of insurance that provides quick access to quality healthcare. These policies can cover individuals, couples, families, or employees working in organisations. The cost is usually paid in the form of a monthly or yearly subscription, also referred to as premiums.

In the UK, providers like Bupa, Axa, Vitality, Exeter, and Aviva have a broad selection of policies. The policies have different levels of coverage and benefits to suit different budgets. Usually, these policies cover the cost of regular health care from private hospitals.

What are the benefits of Private Health Insurance?

Here are three benefits of private health insurance plans:

• Have a comfortable stay: With the best private consultants from the comfort of your hospital room.
• No waiting time: Private health insurance cuts the waiting time to see consultants or have tests/treatments. It also enables you to make appointments according to your work schedule and lifestyle.
• Pay premiums as little as £38 per month: Live stress-free by paying a cost as less as £38 with health insurance.

How can you get private health insurance at affordable costs?

Private health insurance allows you to access private medical treatment. The quality of the treatment depends on your policy’s coverage. A comprehensive private health insurance plan comes with optional extras and can be expensive. But a simpler insurance plan covers only essential treatments and is less costly.

If you want to buy private medical insurance on a budget, there are various ways to make it affordable. Let’s have a look at some ways to get cheaper health insurance and save your money.

1- Choose an insurance policy that can be customised easily

Private health insurance provides standard coverage and optional extras at costs. This means you can add only essential elements to the policy and remove the ones that are not required. Please note that different providers offer different health insurance covers. Many private medical insurance providers in the UK may offer policies with more extensive coverage. At the same time, others provide flexible options to customise the policy as per needs. This is because you wouldn’t have to add optional extras.

Note: If you have control over your health insurance plan, premiums can be lowered, and you can get a policy that meets your needs.

2- Get health insurance for only treatments

Various health insurance providers offer health insurance plans that only cover treatments and essentials. These policies provide coverage only for inpatient healthcare, day-patient treatment, and cancer care. Note that these policies don’t cover outpatient care. So, you cannot use the policy to pay for any diagnostic tests & scans or an initial appointment. Getting a treatment-only plan is cheaper as there are fewer chances to make a claim.

What is the cost of a treatment-only plan?

Type of treatment-only plan as per age	Cost
Treatment only Health insurance for 20-year-old	£23.14
Treatment only Health insurance for 30-year-old	£29.42
Treatment only Health insurance for 40-year-old	£35.85
Treatment only Health insurance for 50-year-old	£47.50
Treatment only Health insurance for 60-year-old	£68.90
Treatment only Health insurance for 70-year-old	£109.45

*Please note that the data is as per a non-smoker who lives in Oxford and has a maximum excess of £250. These quotes are an average of prices from the top five private health insurers in the UK, and the exact coverage can differ for each individual. Connect with a health insurance broker in the UK to know the exact cost of a treatment-only plan.

3-  Increase the excess

Insurance excess refers to the amount paid towards the treatment before insurance covers the remaining part. By increasing the excess on the policy, you can save money on the insurance premium. Note that you have to pay excess every time the claim is made, and even choose the amount very carefully.

4- Cash Plans

A cash plan doesn’t allow access to private hospital treatment or skip NHS waiting lists. Rather, it gives you money back on any regular healthcare expenses and NHS treatment.

What is covered under a cash plan?

Cash plans by private medical insurance providers vary. Some plans can pay total eligible costs for up to an amount, after that 50%, or may also only pay a certain percentage of every check-up or treatment. Make a total of the existing healthcare costs to check if the policy premiums are less than the current one.

How to make a claim for a cash plan?

When you have a cash plan, you can pay for a private treatment or a treatment with the NHS on your own. After that, you can send the invoice to your insurance provider to claim it. They will check if the treatment is provided by a registered provider and if there’s enough coverage to cover the treatment costs.

5- Get a couple or family health insurance

Having a couple’s or a family health insurance policy is more beneficial than having an individual one. As with these policies, the per-head cost is less than that of individual policies. You can get a couples policy even if you’re not married; as long as you live together, they’ll usually cover you.

If you are looking for family health insurance, there are many options available. Some private health insurance providers cover your children at no cost or for as long as they live with you. You can request a private health insurance comparison quote to find the best policy in your budget.

6- Opt for a guided consultant choice

With private health insurance, you get to choose where to get treatment and by whom. While some private health insurance providers have a network of hospitals, others offer a mix of private units and facilities at NHS hospitals. Additionally, you can choose the consultant you would want to see.

As there are different types of hospital lists, your decision will affect the premium. If you want to reduce costs, go for a guided consultant choice.

Benefits of Making A Guided Consultant Choice

Opting for a guided consultant choice can reduce insurance premiums by up to 20% and allow more spending on other areas of health insurance. Moreover, if a lot of choices confuse you, a guided list lets you make the right decision and follow your provider’s advice for treatment.

7- Get policies that offer extra benefits

Most providers offer perks and discounts to members for private health insurance. That means your insurance can help you get discounts on some things you may already be buying. So consider taking a holistic approach towards health insurance to get your money the right value.

Who are the Top Private Health Insurance Providers to Consider?

If you want to buy private health insurance but are confused about which one to take, we can help you. Here’s a list of our top 5 private medical insurance providers in the UK:

1- Bupa

As compared to other leading providers, Bupa By You Comprehensive offers many unique benefits. As per this insurer, their Bupa Direct Access cuts down the time to get specialist help for suspected cancer. Alongside that, you can choose between non-guided and guided consultant access, and also get a hospital list.

2- Axa Health

Axa Health also stands out among the best private insurance providers. Here, you get a generous outpatient cover, a great hospital list, and customisable options like private GP consultations and complementary therapies. Moreover, you can choose from any specialist in Axa’s directory, a traditional hospital list, or a guided option. In the guided option, they give three specialists to pick from and help book an appointment with the Fast Track Appointment Service.

3- Vitality Health

If you have a healthy lifestyle and stay active, the private healthcare plan by Vitality Health is a good option. Their plan aims to lessen the risk of any major illnesses and injuries via early or preventive interventions. So, if you are not very active or want to claim, you are most likely to see huge increases in price at renewal. This can be avoided by selecting other providers who may have a protected no-claims discount.

4- Freedom Health Insurance

Freedom Health Insurance is another specialist health insurer founded in 2003. It is currently the only provider in the UK that does not charge different rates based on where you live. They offer a community-rated scheme where an individual claim ( in limits) doesn’t impact renewal premiums. You also get a cashback on private GP consultations for up to £300 in a year. But, this insurer does not have a no-claims discount or a guided option.

5- Aviva Health Insurance

Aviva is one of the largest private health insurance providers in the UK. Their main policy, Healthier Solutions, can be tailor-made and has optional extras. It also covers outpatient mental health, which helps adults and people with children. If you claim for more than £250 in a year, you’ll drop three levels on Aviva’s no-claims discount scale. Still, you can protect your no-claims discount by paying an extra cost.

6- The Exeter

The Exeter offers an excellent health plan as its core product, Health+. With the flexibility to choose between a guided option or a hospital list, free prescriptions, annual health check-ups, and a generous no-claims discount, this insurer stands out among the top plan providers.

Compare Private Health Insurance with Premier PMI

We hope that this guide provides valuable insights that will help you select private health insurance while saving money on premiums. If you are looking for expert guidance in this matter, then a health insurance broker in the UK can walk you through the options available and help you get the most suitable insurance cover for your budget. We at Premier PMI, as the leading private health insurance broker, can assist you in finding the right health insurance for you and your loved ones under a budget. Contact us to get a private health insurance comparison quote, and we’ll get you in touch with one of our specialists to give you tailored advice.

FAQ