How to budget for medical costs - Health insurance - News - Moneyfacts

News News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

How to budget for medical costs

How to budget for medical costs

Category: Health insurance

Updated: 27/06/2014
First Published: 27/06/2014

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Budgeting for medical costs may not initially spring to mind when you think of planning the family finances. You've got the NHS, after all. But what about those extra costs? Optician appointments, dental treatment, perhaps the likes of physiotherapy or osteopathy – it can all add up, and it's these costs that often get put to the bottom of the agenda.

But, given that these kinds of treatments are often needed on a regular basis, doesn't it make sense to budget for them? Having to pay out so regularly can put pressure on the purse strings, and that could lead a lot of people to perhaps not get the treatment they really need. That's where a health cash plan can come in.

This is a type of insurance product that's actually designed to be used on a regular basis. Unlike traditional medical insurance, it isn't a once-in-a-blue-moon scenario that should only be used for private treatment when you really need it – instead, it's everyday costs that health cash plans can be used for, and all you need to do is pay your premiums, get your treatment and get cash back afterwards.

It could be a great way to budget for regular healthcare costs and can help ensure you keep track of the family finances, all the while making sure you get the treatment you really need. There's no need to worry about blowing the budget on expensive glasses – in essence, you've already paid for them.

To find out more about health cash plans and how they could help you budget for everyday medical costs, make sure to read our special brief from experts in the field, Simplyhealth.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Seasonal spending takes its toll

The biggest shopping season of the year is drawing to a close, and after all that Christmas indulgence, chances are you’ve overspent a bit. But, that shouldn’t be an excuse to let your health suffer next year…

Could you benefit from health cash plans?

There are various forms of health insurance available these days, but there’s one type that’s specifically designed for everyday use – health cash plans. Could you benefit from them?

Health insurance or health cash plan?

Health insurance is one of those things that a lot of us think we could benefit from, yet often fail to do anything about. The costs can be a barrier and some people think they simply won’t need it, but there is an alternative – health cash plans.