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Health insurance or health cash plan?

Health insurance or health cash plan?

Category: Health insurance

Updated: 20/06/2014
First Published: 20/06/2014

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 It is now over 6 months old so the content may be out of date.

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 involved can be a barrier and some people think they simply won't need it, but there is an alternative – health cash plans.

Unlike health insurance, when you'll usually pay a monthly premium in return for making the occasional claim for specialist treatment should you really need it, health cash plans are designed to be used on a regular basis.

You still pay your premiums, but this time you get cashback for everyday healthcare costs. This could include the likes of dental appointments, eye tests, even complementary therapies such as osteopathy or chiropody, helping you budget rather than needing to pay in lump sums.

It could be a great way to make sure you really go to the appointments you need, particularly if you expect to need regular treatments. The cost of private dental visits and even glasses can soon add up, while complementary therapies will become a beneficial part of your everyday life rather than being seen as a luxury.

Health insurance could still be useful, however. It all comes down to your circumstances, as although both are types of insurance product, they're used for very different things. Health insurance will give you the peace of mind to know you'll have access to specialist, private treatment as soon as you need it – without the extortionate bills – while health cash plans can be a great way to help you budget for everyday health costs.

To find out more about health cash plans and their uses, download our special brief from 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 Any products featured may be withdrawn by their provider or changed at any time.