Health Insurance Explained

Health Insurance Explained

6 August 2021
health insurance explained

What is health insurance?

Health insurance ensures that you are covered for private healthcare. This is from diagnosis to treatment. 

Health insurance costs are usually billed monthly. The costs can be quite varied depending on the type of cover that you are looking for. However you should be aware that most health insurance policies will only cover you for illnesses that have developed after the policy has been taken out. Moreover, health insurance are usually related to the costs associated with medicine, consultation as well as hospitalisation. 

What is covered?

What you are covered for depends entirely on the policy that you have decided to take out. However most policies will include cover for treatment in private hospitals. As well as this you can expect cover for things such as private consultations, access to a GP app, physiotherapy as well as outpatient care.

When taking out a health insurance policy, it is important to take family members into account. As a lot of providers will provide discounts on family policies. 

What isn't covered?

For peace of mind, reputable health insurance providers will outline clearly what is excluded in what they cover. Most policies for the most part will not cover

What are the benefits?

The most obvious benefit of choosing private healthcare is that you will have access to treatment a lot faster than you would if you decided to use the NHS.  Which can make a big difference if you fall ill. Secondly, you will have freedom of choice regarding who your consultant is as well as where you wish to be treated. Having unrestricted visiting hours is also a huge benefit as NHS visiting hours can be rather short and unsociable for some. 

Another major benefit to private health care is the fact that many providers will give you access to an app which allows you to access appointments with your GP, meaning you can attend appointments from the comfort of your own home. As well as this, using these apps can help you gain a referral for further treatment, in person.   

As well as this some providers will offer you direct access to mental health and physiotherapists. Therefore cutting down on wait times that you are likely to experience with the NHS.

What are the disadvantages?

First of all, one of the main disadvantages to private healthcare is the fact that not all conditions will be covered on your policy. For example if you end up suffering from a long term illness, there is a high chance your provider will not cover you for this as most only provide cover for short term illness. 

Secondly, a lot of appointments and treatments will not be covered on your policy. Therefore once you have been referred from your GP. You will have to get conformation from your insurance provider to check if they will provide you cover before you go ahead with any treatment.

Also it can be quite difficult to know which policy suits you. Because there are an abundance of companies out there who offer private health care policies. If you do wish to take out a private healthcare policy, it is recommended to seek advice from a private financial advisor in order to fully understand what each plan offers. As well as this, the more cover you are looking for, the more money you will be paying out per month. On top of this, the cost of private medical insurance is rising year by year. Which now means that private health care is becoming more expensive due to inflation. 

Finally, you of course cannot predict illness. Therefore there is a high change that you may develop a condition that is not covered on your policy. 

Things to think about before getting private treatment

There are a number of things to think about before getting private treatment. Firstly, you should find out if your chosen hospital specialises in the treatment that you’re after. You should also consider how you plan to fund your treatment because you will have the option to pay for it yourself or by using a health insurance policy as mentioned previously. As well as this, you should take into account your consultants qualifications so you can be assured that you will receive the appropriate quality of care.  It is also important to note that even if you have a private healthcare policy, you are still entitled to free NHS care.

Should you get private healthcare?

Of course everyone is different, as are their needs. It all depends on your own personal finances, if you can afford private healthcare it is of course beneficial to have it because you are still entitled to free NHS health care regardless. Therefore meaning that anything private is just improving your experience with the overall healthcare system. However, as mentioned previously. Private healthcare can be costly. 

If you wish to compare private healthcare providers, Bright Compare can help you find the best deal possible. Our time of specialist brokers know how to find the best deals on the market. If you would like to compare health insurance, please enquire below.


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