Is Private Health Insurance Really Expensive?

Most people in the UK assume that private healthcare is expensive and unaffordable. When you are used to getting treatment on the NHS for free, paying any amount of money for medical attention can seem costly. But, there are many reasons now why people are more interested in private healthcare. One of them is that the waiting times for the NHS are long and concerning. 

Note that the best way to manage the costs of private healthcare is through having an insurance policy. But, is this going to be expensive? Here is a guide that can help you get familiar with private health insurance.

Is Private Health Insurance Expensive?

Most families assume that they cannot afford a private health insurance policy. They imagine that it is very costly on a monthly basis and that they would not be able to afford to pay for it comfortably. However, the first thing you should realise is that not all private health insurance policies are expensive and unaffordable. There are many that are designed to be accessible to many different types of people.

Everyone is able to get an individual quote for health insurance. The price you are given will vary from provider to provider. Plus, it will be based on a range of personal details. This can include:

• Postcode
• Age
• Medical history
• Previous cover

The level of coverage you select will also play a part in the price of private health insurance. For example, there is going to be a basic level of coverage, as well as the ability to have additional extras on the policy. This is going to be something that is your own personal decision.

Get a Quote for Private Health Insurance

The only way to find out how much you are going to pay for private health insurance is to get a quote. Thankfully, there are websites that let you do this for free. For example, you can compare the price for private health insurance on Usay Compare’s website. You can enter some personal details, and this will allow you to see the prices that insurance providers will give you for a policy.

Just make sure that when you get a quote for private health insurance, you explore all of your options. Yes, it can be appealing to get a cheap quote, especially when you think they would be very expensive. But, there might be better protection on a different policy that costs just a little bit more.

How to Choose a Private Health Insurance Policy

Price will always be a factor when it comes to choosing a health insurance policy. But, if you have a wide budget, there are a few more elements you can think about to select the right one. Here are a few examples.

The Level of Coverage

Something very important to know when you are choosing a policy is the level of coverage it is going to offer. You want to make sure that it has the right amount and will be able to cover you for the treatment you think you will use. There is going to be the opportunity to add on extras if you want them. But, if you feel like you are not going to use them, you can keep your cost down by sticking with the basic coverage.

The Provider

Sometimes, it can be reassuring to choose a health insurance provider that you have heard of before. This gives you confidence that they will handle your claim correctly and pay out when you need them to. So, something to consider is the name of the provider. You can also choose to do some research on them first so that you are able to take care of your health. 

How You Can Claim

When you have a claim, you want to make sure the process is easy. Otherwise, you will think it is a hassle and not bother. So, to make your life easy later on, check out how insurance providers want you to claim. This way, you can choose the process that you like the most. Some will be more straight forward than others and can be done online. Other providers might be more traditional and make you call for your claim. So, you can select the way you like, and you can know that claims are simple if you need to make one.

How You Pay

There are two ways to pay for a health insurance policy. You can pay annually and in one go, or you can choose to pay in monthly instalments. Some providers might prefer you pay one way or offer a discount for annual payments. So, this is something to think about when you are looking for a policy. What’s more, it can allow you to budget for private health insurance.