FREE Private Health Insurance
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Jonathan Smith – (CeMAP, BA Hons, Aff SWW, CeRER)
Our health is often something we take for granted until we fall ill and need fast access to a diagnosis and treatment. Most UK residents are eligible for free healthcare provided by the NHS. With health insurance, however, you can benefit from private healthcare. This can reduce your waiting times, relieve the financial strain that an unexpected health issue may cause and allow for personalised care, including preventive care.
At Trinity Finance, we understand how important it is to have cover in place that meets your healthcare needs. Typically covering a wide range of treatments, specialist consultations and hospital stays, health insurance provides reassurance and reduces stress related to potential health issues. Here, we’ll explain what health insurance is, the types of plans and cover available, how much it costs and the benefits of having it as well as factors to consider before taking out a policy.
What is health insurance?
Health insurance – also called private health insurance or private medical insurance (PMI) – gives you access to private healthcare. Whilst you can still use healthcare services offered by the NHS, private healthcare provides many benefits in exchange for paying premiums. These include faster access to healthcare, access to medication or treatments that are not available on the NHS, a choice of hospitals and clinics, more comfortable facilities, private rooms and more.
It covers some or all of the costs of healthcare needed for whoever is named on the policy, whether that’s just you, a partner or your family. Having private health insurance gives you faster access to consultations and private medical treatment. This allows you to avoid lengthy waiting times and get on the road to recovery sooner. You can also choose the level of care you wish to receive as well as how, when and where it’s provided.
Generally, health insurance covers you for conditions that occur after your policy has started. Pre-existing conditions are not usually covered. You can choose from different types of plans, which we’ll detail below, as well as various levels of cover. You can take out an individual plan or you may prefer a plan that covers both you and your partner or your family. As such, health insurance offers flexibility, allowing you to tailor your policy to meet your specific needs and budget.
What types of health insurance cover are there?
Before taking out a health insurance policy, you need to decide who you want it to provide cover for. There are various plans to consider:
- Individual health insurance: This enables you to bypass NHS waiting times, giving you quicker access to medical care. You usually have a wider range of consultants and hospitals to choose from.
- Joint health insurance: This provides cover for you and your partner. Having a joint health insurance policy may be cheaper than taking out two individual ones.
- Family health insurance: Your whole family can be covered under the same policy. This is a more cost-effective option than taking out separate cover for each family member.
- Child health insurance: If your child falls ill, this cover gives you peace of mind that they’ll receive faster treatment in private healthcare facilities.
- Self-employed health insurance: This insurance enables you to avoid lengthy waiting lists and choose when and where to have appointments, providing flexibility around your schedule. It helps to cover the costs of private medical care, reducing your financial concerns when you’re self-employed.
What is included with private health insurance cover?
Your health insurance cover depends on the type of policy you choose and the level of cover you prefer. Your policy can be tailored to meet your needs as well as your budget. Health insurance providers differ in what they offer but, generally, you can expect standard inclusions with optional extras, as detailed below.
Standard inclusions
Whilst policies vary between health insurance providers, the standard inclusions tend to be:
- Diagnostic tests: These may be carried out in person with your GP or via a virtual appointment.
- Hospital costs: These can include the costs of tests and scans, such as MRIs and X-rays, and hospital appointments.
- Inpatient treatment: This covers medical care and specialist fees when having to stay overnight in a hospital.
- Outpatient care: This covers day-care surgery costs.
- Physiotherapy: You can benefit from private physiotherapy sessions.
- Mental health support: Online support is usually offered and you may have access to therapy sessions.
- Cancer treatment: This cover provides you with cancer care and support.
Some policies may also include:
- Outpatient care before treatment: This covers appointments, tests and scans before treatment.
- Menopause support: This includes a range of services for menopause and perimenopause support.
- Specialist therapies: These can include chiropractic and osteopathic treatments and therapies.
Optional add-ons
Health insurance cover is flexible, with various add-ons being available for you to tailor your policy. These can include:
- Dental care: This covers regular check-ups, treatments and emergency dental care.
- Optical care: This includes eye tests, contact lenses and prescription glasses.
- Hearing care: The costs of hearing tests and hearing aids are covered.
- Mental health upgrade: Comprehensive mental health cover is provided. This can include counselling, therapy, psychiatric treatments and inpatient and day-patient care for mental health conditions.
- Additional physiotherapy: This includes physiotherapy to help relieve pain and enhance your mobility, which is essential when dealing with a chronic condition or recovering from an injury.
- Prenatal, maternity and postnatal services: Benefit from prenatal care as an expectant parent, maternal services and postnatal support.
- Dietician consultations: Benefit from private consultations to assess your health and well-being, to guide you on dietary care and to support you as you implement a dietary and healthier lifestyle strategy.
- Complementary medicine and alternative treatments: This covers holistic choices for well-being, such as homeopathy, massage therapy and acupuncture.
- Protected no-claims discount: With this protection in place, you won’t lose your no-claims discount if you have to make a claim, which means that your premiums won’t increase due to a lower NCD level.
- Extended hospital options: You have access to a wider range of hospitals, including a greater number of hospitals in London.
- Worldwide travel insurance: This ensures that you have access to emergency medical treatment when travelling abroad. It also includes common travel vaccinations and anti-malarial medication.
What is excluded from private health insurance cover?
Standard health insurance policies usually exclude cover for the following:
- Pre-existing conditions: These are illnesses or injuries that you already have before taking out the policy.
- Chronic conditions: These are long-term conditions requiring routine treatment, such as diabetes, epilepsy, asthma, hypertension and arthritis.
- Pregnancy and childbirth: Normal pregnancy and childbirth issues are not covered but related conditions or specific complications may be covered.
- Outpatient care before treatment: This includes appointments that are recommended to you by a GP or specialist before diagnosis.
- Emergency treatment: This is when immediate medical attention is required for illness or injuries.
- Allergies and food intolerances: These services include allergy testing, specialist consultations and medication, which are not usually covered unless they are considered to be life-threatening.
- Injuries derived from high-risk activities: For example, injuries resulting from taking part in dangerous sports.
- Cosmetic surgery: Procedures to improve your appearance are not covered unless they are used to help with a medical condition, such as after surgery for cancer or an accident.
- Menopause support: This includes supplements and prescriptions that are specific to menopause as well as hormonal therapies.
- Overseas treatment: Planned treatments and elective surgery abroad are not covered in a standard health insurance policy.
How does private health insurance work?
To benefit from private health insurance, you need to pay premiums on a monthly or annual basis, just as you would for any other type of insurance policy. You also need to agree on an excess amount, which is how much you have to pay if needing to make a claim. The excess is typically only paid once a year when you first claim. Any subsequent claims during that year won’t be subject to an excess. The excess isn’t payable again until a new policy year has begun.
For example, the agreed excess may be £250 and you need to claim shortly after your policy has started. The claim costs £1,000. You need to pay £250, therefore, as your contribution towards the claim. The health insurance provider pays the remaining £750. For any other claims you make during the policy year, there’s no need to pay the excess again. Please be aware that each health insurance provider has their own terms for this. Our mortgage and protection brokers will check the policy excess details and confirm this with you before proceeding.
It’s important to make sure that the excess is an affordable amount for you. Although paying a higher excess can lower your premiums, you need to ensure that you can afford the excess should you need to claim. In return for paying your premiums and agreed excess, you can access private medical care, claiming some or all of the costs back, depending on your policy. This means that you don’t need to wait for diagnosis or treatment via the NHS and don’t have to pay for it yourself. You may also get access to medications or treatments that aren’t available on the NHS.
How to make a claim on your private health insurance
If you develop a health issue after your policy has started, consult your GP as normal or, when applicable, refer to a GP provided by the health insurance provider. For example, some providers give you access to a private GP for a diagnosis, prescription and referral. Some providers also offer specialist help for certain conditions, such as muscles, bones and joints, mental health or cancer.
When consulting your usual GP, let them know that you have private medical cover so that they can provide you with the options available. Your GP can then recommend treatments or specialists. Your GP can provide you with an open referral letter if you’re undecided about which specialist to use or where to have your treatment. Bear in mind that your policy might include a list of approved healthcare providers.
Next, get in touch with your health insurance provider and they can advise you on the next steps. If you’ve been given an open referral letter by your GP, they’ll need to see a copy of this. They can guide you on your options as per your policy and also help you choose which specialist to see or where to go for treatment if you’re undecided.
How much does private health insurance cost?
The cost of your private health insurance policy will depend on various factors. These include:
- Your age: The older you get, the more likely you are to suffer from health issues. As this means that you’re more likely to make a claim, your premiums will be higher.
- Your location: Some areas in the UK, such as London, are more expensive when it comes to the cost of hospitals or private treatment centres. As such, the premiums will be higher to reflect this.
- The type of policy you choose: If you take out a joint policy, for example, or prefer your whole family to be covered under the same policy, this will be more expensive than taking out an individual health insurance policy.
- The level of cover you want: A policy providing comprehensive cover will be more expensive than opting for a basic policy. You can also select optional extras to tailor your policy to meet your needs, which will increase its cost.
- Your excess level: Opting to pay a higher excess usually means that you’ll benefit from a lower premium.
- Your claim history: If you’ve made previous claims, this can impact the premium payable.
- Your lifestyle: If you’re a smoker, for example, you’re considered to be a higher risk and this, in turn, will increase your premium. Having a healthier lifestyle, however, may qualify you for a discount on your premium or give you access to other perks.
How can you get cheaper private health insurance?
There are various ways to lower the cost of your private health insurance, including:
- Save on a joint or family policy: Covering your partner or family on the same policy can be more cost-effective than taking out individual policies for each person.
- Select your cover carefully: If you don’t need comprehensive cover, which costs more, choose a more basic level of cover to keep your premiums lower. Just make sure that it meets your healthcare needs as well as your budget.
- Pay a higher excess: The higher the excess you agree to pay, the lower your premiums will be. Ensure that this is an affordable amount because the agreed excess is what you have to pay upfront if making a claim.
- Reduce your outpatient cover: Another way to lower your premiums is to opt for reduced outpatient cover or, if you prefer, none at all.
- Consider a 6-week option: Agreeing to a 6-week option lowers your premiums. This option means that if the NHS can provide you with treatment on an inpatient or day-patient basis within 6 weeks of a referral, you can use the NHS and don’t need to claim on your policy.
- Change your lifestyle choices: If you decide to stop smoking, for example, or reduce your alcohol intake, this may lower your premiums.
- Accept a smaller hospital list: Having access to a limited list of hospitals can lower your premiums. Check that this list includes options that are suitable for you first.
- Pay for your policy annually: Although paying annually means that you need to pay a larger sum upfront, it is a cheaper option overall. If paying monthly, for the benefit of having that flexibility, insurance providers charge higher premiums to allow for extra administrative costs across the year.
- Check with your employer: Your employer may provide health insurance cover for you as part of your employee package so check exactly what is covered. If some optional extras that you need are not included, there’s a limit on the cover or you want to include family members in the policy, you may be able to make arrangements for this with your employer and pay the difference with the increased premium.
Do you need private health insurance?
As a UK resident, you have access to free healthcare via the NHS. Working alongside the NHS, private health insurance provides you with quicker access to treatment and enables you to choose when and where you’re treated. You also have access to medications and treatments that are not provided by the NHS.
As such, having private health insurance is a personal choice. If you prefer to avoid long waiting times on the NHS and want the flexibility and options that private health insurance offers, then it’s a good choice. Having this cover in place also provides peace of mind that you can get the healthcare you need without having to worry about the financial burden.
If you’re already covered for private health insurance at work through your employee benefits package, then it may not be necessary to take out a separate private health insurance policy. Check with your employer about what’s covered in the policy. If there is something else that you need, such as having your family members added to the plan or having access to dental or optical care, speak with your employer to see if they can tailor their business health insurance policy to accommodate this. Bear in mind that if you stop working for your employer, you’ll lose the health insurance cover they have provided.
If you’re self-employed, private health insurance provides you with the flexibility to be treated when and where you want. This means that you can fit your healthcare conveniently around your schedule. You also have faster access to treatment, putting you on the road to recovery sooner. This reduces the impact that an illness or injury can have on your business.
The benefits of having private health insurance
There are numerous benefits to having private health insurance:
- Faster GP appointments. With access to virtual or in-person appointments, you can get an appointment quickly.
- Reduced waiting times for diagnostic services and treatments. You have faster access to healthcare consultations, tests, diagnostic services, therapies and treatments.
- Specialist referrals. Benefit from the expertise of a specialist when seeking a second opinion, diagnosis or treatment.
- Your choice of surgeon and hospital. Choose your preferred specialist and hospital to suit your needs, such as the time and location.
- A private room. This allows for more privacy and comfort compared with an open ward.
- Access to specialist treatments. Gain access to medicines and treatments that aren’t available via the NHS.
- Faster access to physiotherapy. Get quicker access to rehabilitative help, such as physiotherapy sessions.
- Manage your healthcare online. Access medical advice from healthcare professionals 24/7 for speed and convenience.
- Health incentives. Some health insurance providers offer incentives for leading a healthier lifestyle. For example, a reduced renewal premium, a discounted gym membership or discounts on lifestyle products.
The drawbacks of having private health insurance
There are also some potential drawbacks to consider before taking out private health insurance:
- The cost tends to increase as you get older and if you make any claims.
- There are various exclusions, such as pre-existing and chronic conditions, emergency care or injuries sustained from high-risk activities.
- An excess is usually payable.
- If your policy has an approved list of hospitals and consultants, they may not be local or your preferred choice.
- There may be a limit to the amount you can claim, depending on your policy.
- If you fail to pay your premiums, your policy will be cancelled, leaving you without cover. There won’t be an option to claim a refund for any money you have already paid.
- The NHS offers priority treatment for serious illnesses, such as heart attacks, strokes or cancer.
Considerations when taking out private health insurance
Before arranging your health insurance policy, there are various factors to think about.
Cost and approved list
Cheaper policies may have a cap on the amount you can claim. A comprehensive policy, however, provides extensive cover and often doesn’t have a limit on the cost. If your health insurance provider has an approved list of hospitals and surgeons, this means that you may not have your preferred choice of either and you may have to travel further afield to receive treatment.
Waiting period
Health insurance providers vary with the waiting periods they stipulate before you can claim for specific treatments. Some enable you to use your policy immediately for a condition that starts after the commencement of your policy. Others will specify that claims can only be made after a set period, such as a few months, or specify a waiting period for particular treatments.
Exclusions and age
Make sure that you are aware of any exclusions to your health insurance policy. Our mortgage and protection advisers will go through this carefully with you. They will ensure that you understand exactly what cover is and isn’t included under the terms of your policy. Also, be aware that the cost of premiums tends to increase the older you get. This is because you’re more likely to experience a health issue and make a claim as a result.
Incentives
Many health insurance providers offer perks for taking out your policy with them. For example, you may have access to an app that encourages you to have a healthier lifestyle. Using this, you may be able to earn points for completing certain tasks in exchange for rewards. Another example is benefitting from discounts on health and fitness brands or gym memberships. If you’re an existing customer with the insurance provider, you may get a loyalty discount on your health insurance policy. Other providers may offer a renewal price guarantee or a discount if you meet their health-related eligibility criteria. Some offer additional well-being services, such as helplines for stress counselling or materials to help with mental health support.
We can arrange the right health insurance cover for you
When your health is suffering, having private health insurance in place reduces the time needed for appointments, diagnoses and treatments. This provides reassurance that you can get on the road to recovery a lot sooner. It also gives you peace of mind concerning the financial burden that you may otherwise face as some or all of the costs will be covered, depending on the terms of your policy.
Don’t leave your healthcare to chance. Speak with one of our mortgage and protection brokers on 01322 907 000 to find out what cover is available for you, your partner or your family. They can advise you on the types and levels of cover to choose from, which can be tailored to meet your needs. If you’re concerned about the cost, they can guide you on ways to lower your premiums while maximising your cover.
If you prefer, send us an email at info@trinityfinance.co.uk or an enquiry via our contact form. One of our mortgage and protection brokers will reply to you as quickly as possible with more information about the health insurance options available. We also offer other financial protection services, such as critical illness cover and income protection. Just let us know your circumstances and we’ll provide you with impartial advice to help you make the best decision for your needs.
FAQs
You need to be aged 18 to take out a health insurance policy. Usually, there is no age limit for taking out a policy although this depends on the insurance provider. For example, they may stipulate that you must be aged between 18 and 79 at the point your cover starts.
When calculating the cost of your policy, your age is one of the factors that is taken into account. The older you are, the higher your premium will be.
No, unless you have a pre-existing medical condition, you don’t usually need a medical check. You simply complete a form so that your insurance provider gains an understanding of your medical history and lifestyle. If you do have a pre-existing medical condition, you may need to provide the insurance provider with more information obtained from your GP.
You agree to the amount of excess that’s payable when you take out the policy with the insurance provider. Usually, the higher the excess, the lower your premiums. Just be sure that you choose a realistic, affordable amount as this is how much you have to pay upfront when making a claim.
Different policies can have varying excess levels. For example, you may be able to choose between £0, £100, £250 or £500 excess. The levels of excess available depend on the flexibility offered for the specific policy.
The frequency of when excess is payable also differs. With some insurance providers, you may just pay the excess for a claim once per policy year. Other providers, however, may stipulate that the excess has to be paid each time you make a claim.
Our mortgage and protection brokers will go through the excess options with you so that you choose the right option for your needs.
Your policy needs to be renewed every year and it’s recommended to review the details before the renewal date. Some insurance providers set up an auto-renewal feature, which ensures that your policy doesn’t lapse, leaving you without cover. You’ll generally receive notification of the upcoming renewal date to review the policy. Check that your details are still correct and that the cover is still adequate for your needs. If you don’t review the policy or do review it but no changes are needed, it will simply auto-renew.
Be aware that many renewals have increased premiums so it’s a good idea to get health insurance comparisons first. This ensures that you’re still getting the best deal for the level of cover you need. Once your policy has been renewed, you’ll be covered for another 12 months provided that you continue paying your premiums.
You can still take out health insurance but, as it’s intended to cover you for health issues that start after your policy has begun, you won’t usually be covered for any pre-existing conditions. A pre-existing condition means that you’ve had symptoms, diagnostic tests, treatment or medication for an illness, disease or injury before taking out health insurance. A pre-existing condition, therefore, still needs to be treated via the NHS.
Some insurance providers consider a pre-existing condition to be one that you’ve had symptoms or treatments for within the last 5 years. This is regardless of when you were diagnosed. Others don’t limit this to 5 years, however, so it’s important to check this. If you haven’t had any symptoms for 5 years or more, some insurance providers may be prepared to include this condition in your cover.
Once you’ve agreed on the level of cover and other details of your policy, you’ll be issued with your cover documents. Your policy certificate will show the date that your cover starts and this will continue for 12 months unless either you or the insurance provider cancels the policy in the meantime.
Usually, paying for your premiums annually is a better option than making monthly payments. Doing so makes your premiums cheaper as insurance providers tend to charge more for monthly premiums to allow for extra administrative costs. It also prevents you from missing a monthly payment, which can lead to your cover lapsing or incurring extra fees from the insurance provider.
As a UK resident, you’re usually entitled to free healthcare via the NHS. Private healthcare works alongside the NHS and is usually paid for. This is either via your own private health insurance policy or one that’s financed by your employer. Whilst you can still use the NHS, private healthcare gives you faster access to treatment. You can also benefit from the flexibility of choosing when and where to be treated.
Yes, a no-claims discount is offered by some health insurance providers. This means that for each year you don’t make a claim, you gain an additional year of no-claims discount. When you come to renew your policy, the discount will be applied, reducing the amount you need to pay.
Some insurance providers offer a protected no-claims discount as an optional add-on to your standard cover. This protection ensures that you won’t lose your no-claims discount if having to make a claim.
This depends on the insurance provider. Some will cover treatment without a referral from your GP but others will insist on a GP referral if you want to claim. For the latter, the GP can give you a named referral or an open referral letter. Make sure you check whether or not you need a GP referral before claiming on your policy.
There are various ways to lower your health insurance cost. You can consider a higher excess, which is the amount you need to pay as a contribution when making a claim. The higher the excess, the lower your premium. However, be aware that this higher amount is payable if you need to make a claim. You can also pay your policy premium annually rather than monthly as it is a more cost-effective option. If wishing to insure more than one person, opt for a joint or family policy rather than taking out individual health insurance policies.
Some insurance providers offer incentives to maintain a healthier lifestyle throughout the duration of your policy and this can result in a discount when renewing your policy. Making some lifestyle choices can also lower your premiums, such as choosing to stop smoking.
Our mortgage and protection brokers can guide you on ways to lower your premiums while ensuring that you still retain the cover you need.
Yes, some details can be changed mid-term, depending on the insurance provider. For example, you may need to change your address or the name of someone on your policy, you may wish to remove someone from your policy or some of the policy schedule details may need correcting. When renewing your policy, you can review your cover to either increase or decrease it.
Health insurance policies usually only cover you in the UK. This means you won’t be covered if you become unwell while on holiday or working abroad. Some policies may cover you for emergency treatment while abroad so it’s important to check this with the insurance provider. Some healthcare insurance providers offer worldwide travel insurance as an optional add-on to your standard cover.
Alternatively, consider a travel insurance policy when going abroad for short trips or international health insurance if staying abroad for longer.
Yes, you can add your partner to your policy so that you have joint health insurance or you can have family health insurance if you want to add your children too. These options are more cost-effective than taking out individual policies. Some insurance providers offer special rates for children too. For example, if you have two or more children aged 19 or under, you may only have to pay for the oldest child.
The amount you pay for your premiums each year will vary based on different factors. These include personal details, such as your age, location and claims history as well as other factors, such as inflation relating to medical costs.
Health insurance allows you to access private healthcare and claim on your policy when needing private medical treatment. Each policy lasts for 12 months and needs to be renewed.
Critical illness cover, on the other hand, offers financial protection if you’re diagnosed with a serious illness that’s covered under your policy. You receive a tax-free lump sum after diagnosis, ensuring that you can cover any expenses you need to if, for example, you have a loss of earnings or need to adapt your home as a result of the illness. Rather than being a yearly policy, critical illness insurance provides long-term cover.
No, if you are already covered by private health insurance via your place of work, you don’t necessarily need to take out a separate policy. Check what you are covered for in case it doesn’t provide cover for everything you need. For example, there may be a limit on the cover or optional add-ons, such as dental cover, may not be included. Bear in mind that if you stop working for your employer, you will lose the health insurance cover immediately.