Private medical policies are becoming increasingly popular. They cover the costs of private medical care for short-term conditions. Many people take out private cover so that they can get treated almost immediately, whereas they might have to wait many months on the NHS. However, it is not a total alternative to the NHS as most private hospitals will not have Accident & Emergency departments. The care is also not guaranteed to be better than the NHS, however you do tend to get seen a lot faster and you can usually pick a time and place to get the treatment.

Who can take out health insurance?

Some insurers will cover people of any age, some insurers will have an age limit. Usually, the older that you are, the more your premiums will be as the more likely you are to claim.

What am I covered for?

Private health insurance covers the cost of surgery, specialists, hopsital stays and nursging bills. It also covers things such as x-rays and medication. The accommodation is often better with most patients having their own rooms, instead of shared wards, with a fridge, TV and radio.

However, most policies will not cover long-term illness treatment or treatments for ailments which cannot be cured, such as asthma, diabetes or MS. You also are not covered for pre-existing medical conditions. Conditions such as alcoholism, drug abuse, dental treatment, HIV/AIDS, infertility and cosmetic surgery are also generally not covered.

What’s the cost?

Costs will depend on the insurer, your age, your family history and your personal history. It will also depend on how many people are on the policy. The more treatments that are covered, the higher the cost will be.

There are usually three types of policy. The budget policy is the cheapest and will usually only cover you if you cannot get treatment on the NHS within a given time period. This is a good option if you want to save money. You can also sometimes save money by having a larger excess (the amount you have to pay when you claim), or by agreeing to only be treated in a specified list of hospitals. Some insurers will offer ‘no claims’ bonuses as well – these can help reduce the premium as it is an incentive to not make minor claims.

Some employers will offer medical insurance as a perk, so it is worth asking. An employer normally has more clout and can negotiate bulk discounts or better terms. The employer will benefit from giving it’s employees medical insurance because the performance of staff will not be hit by minor conditions as they will be treated very quickly. Note that private medical insurance is taxed as a perk if you earn above a set amount each year. If you retire, you will have to renogotiate your policy, however you will probably will still get some discounts.

Medical History

Most insurers will ask for your medical history – your past illnesses and operations. Some will write to your doctor for more information. This form must be accurate – if you make a claim and it is found that you have given inaccurate information, your claim may not be paid.

If you have a medical condition which might reoccur, insurers will often insure you but not for that condition.

Making a claim

When your doctor has told you that you require treatment, he should arrange for your to have a private appointment with a consultant. You will need to get a quote for this appointment and then notify your insurer. Make sure you are clear about what your insurer will and won’t pay for so that you know where you stand financially. Some insurers will pay you after you have paid the bill whereas others will deal with the hospital directly – ensure you know which way your insurer prefers to deal.

Click here to see a range of health insurers.

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