Following the airing of ITV Tonight's latest episode: 'Buy Back Your Health? NHS vs Private', we have experienced a lot of enquiries from concerned UK residents, who don't currently have a health insurance policy to rely on. In the episode, ITV Health Editor Emily Morgan uncovers some harrowing stories of people selling their homes, taking loans and fundraising, in order to afford private healthcare. Private Medical Insurance (PMI) can cover these treatments such as cancer care and hip replacements. Keep reading to understand everything you need to know about Private Medical Insurance.
What is Private Medical Insurance?
Private Medical Insurance doesn't compete with the NHS, it complements it, working in harmony to ensure your health is protected. Also known as Health Insurance or PMI, it is an insurance policy, which covers the cost of private healthcare. It allows you to side-step the NHS waiting lists and access private treatment. PMI Not only avoids the NHS queue but can also offer additional breakthrough treatments and medications, and makes the whole process more comfortable, with private en-suite rooms instead of wards. You can choose which hospitals and consultants you receive treatments from and when to schedule appointments.
Why do I need Health Insurance?
1. Waiting Times
Over seven million people are on NHS waiting lists, with nearly 400,000 of these forced to wait more than 12 months for treatment, according to the British Medical Association figures. For many people, one of the most appealing aspects of health insurance is the ability to avoid long waiting lists. Taking time away from normal life due to illness is difficult enough; imagine having to wait so long to even begin treatment.
According to a report from the Office for National Statistics, 1/8 (13%) of adults in the UK have paid for private medical care in the last year due to long waits for NHS treatment. 5% used private medical insurance, while 7% paid for their own care.
The same ONS Report found: 1 in 5 (20%) adults reported they were waiting for a hospital appointment, test, or to start receiving medical treatment through the NHS. 36% of those polled said waiting made their condition worse, and 59% said it harmed their well-being.
2. Breakthrough Treatments
Private medical insurance provides access to some breakthrough treatments that are not yet available on the NHS due to cost, including cancer treatments. It also provides access to the best hospitals and consultants in the country, as well as the freedom to choose where and when you want to receive treatment.
One in every two of us will be diagnosed with cancer during our lifetime, according to the most accurate forecast to date from Cancer Research. Quick diagnosis and treatment can lead to the best outcomes for cancer survival. But according to the British Medical Association’s NHS Backlog Data Analysis, waiting times for cancer referrals are increasing on the NHS. Health insurance can help speed up the initial diagnosis and provide access to cutting-edge treatments.
3. It’s probably cheaper than you think
Many of our clients are surprised to find that Health Insurance policies are much more affordable than they imagined. Many don’t even consider a policy, based on the assumption they will not be able to afford it. This is normally due to the confusion that sometimes surrounds policies, as there are lots of different options to choose from. Our expert advisers help to find the perfect policy to suit your individual requirements and can find much cheaper premiums for your specific circumstances. You pay absolutely nothing for our advice and quotes are completely free. More on affordable policies here.
4. Extra Benefits
Health Insurance policies often come laden with perks, treats, discounts and extras. Often clients find that they will receive discounts for things they already currently pay for, like gym memberships, groceries, or subscriptions; effectively making policies cheaper still than they imagined. Most extra benefits are intended to encourage healthier habits, more exercise and better eating, so contribute to your health from all angles.
5. Prioritising your health
Many of the day-to-day things we spend our earnings on, would pale to insignificance at the diagnosis of a serious illness or injury for you or your family. If you want to prioritise your health and be proactive about protecting it, Health Insurance is an affordable and accessible way to do it. Whilst we respect and support the NHS and the hard-working individuals who have been so dedicated through the pandemic, the service is stretched and there is a faster, better alternative.
To find out more about an exact Health Insurance policy to suit your own individual requirements, our expert advisers are on hand to offer free, impartial advice. Just fill in the quick form below to begin the process.
