Health Insurance Guide
What is Health Insurance?
- Health insurance, or Private Medical Insurance, allows you to gain access to hospital treatment quickly. Once you have been referred by your GP you can usually choose which hospital you get your treatment from and can normally get looked at sooner than on the NHS.
- Health insurance may pick up the costs of most in-patient treatments, such as tests and surgery, and day-care surgery. It may also extend to out-patient treatments, such as specialists and consultants.
Who is it suitable for?
- Health insurance may be suitable for people who don't want to rely on the NHS for their medical treatment, or those who want to make sure they can be treated as quickly as possible if they need hospital treatment.
What should you look
out for?
As with all insurance policies, you need to make sure you
understand what the policy covers, and what it doesn't. You normally won't be
able to get cover for:
- Treatment you know you're going to need.
- Existing medical conditions. You'll need to disclose these fully when you apply to ensure your whole policy is valid.
- Long-term medical conditions which are likely to continue to need regular or periodic treatment.
- HIV/AIDS, routine pregnancy, fertility treatment, mental or psychiatric conditions, and treatments you may choose to have, such as cosmetic surgery.
You may be able to keep the cost down by opting for a higher
excess amount (which is the amount you have to pay towards the hospital bill
which is covered by the policy), or by choosing a lower level of cover.
What to do next?
Take a look at our guides on Things to Watch Out For,
and Key Factors to Consider when buying insurance, so you can go in
knowing what you're looking for.
Moneyfacts.co.uk has also put together a range of insurance
guides if you are looking around for other types of insurance.
Take a look at Moneyfacts' Health Insurance service.
We'll put you in touch with an authorised adviser who will be able to give you
a quote and arrange the insurance for you.
