Private Healthcare Insurance

While people who work for minimum wage very rarely have an employment package that offers additional benefits, higher up the scale employers vie with each other to see who can offer the most attractive employment package. An increasing number of employers now offer their top employees a package that includes private healthcare insurance and this can often seal an employment deal. Private healthcare insurance is designed to cover the beneficiary for a number of medical complaints, and usually involves treatment in a private clinic or hospital. The vast majority of private healthcare insurance policies cover acute, or short term unexpected illnesses which treatment can deal with and restore that person to health. There are different types of healthcare insurance or private medical insurance and a lot depends on what you might want from a policy if you are paying for it yourself.

Private Healthcare Insurance

What Type or Level of Cover?

There is no denying the fact that full private healthcare insurance can be an expensive business. If you don't want to be paying out hundreds if not thousands of pounds in policy premiums, then you need to be selective about the kind of private healthcare treatment that you require. You can for example, get healthcare insurance for as little as seven or eight pounds a month, which might just cover a short stay in hospital should it be necessary, but will not cover you for repeated follow up outpatient visits. If there are certain conditions that you are particularly concerned about, for example heart attacks, then you may want to get private healthcare insurance that covers you for those specific conditions. You may be able to take out a policy where you can choose between the NHS and private cover for certain aspects of an illness.

What Can You Afford?

Some private healthcare insurance policies may not be worth the bother, although it is possible to extend the range of cover if you choose insurance with a high level of excess, that is the amount that you pay for your care and the insurance company pays for the rest. If you have some savings then a policy with higher excess might work for you. If you have a limited budget and need to think about the healthcare needs of all the family, then you may want to consider a healthcare cash plan, where you have a certain sum each year to spend on the health need of your choice, usually eye or dental treatment. Healthcare cash plans cost just a few pounds a week and can be very useful if you have school age children.

What is not Covered?

Before you sign you name to any private healthcare insurance policy, you need to be clear on the things that are rarely if ever covered by private health insurance. Most insurance companies will not give you cover for an existing condition, nor will they provide cover for a chronic or long term illness. Some insurance companies may provide cover for a short term mental illness such as a temporary nervous breakdown, but many companies will not give cover for any kind of mental illness. Always read the small print on any insurance policy before you sign on the dotted line.

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