The NHS waiting list is estimated to have 7.5 million cases, highlighting just how strained NHS services are.

The long waiting lists have been linked to the 30% increase in number of people paying for private healthcare since the pandemic. We're exploring if health insurance is worth it to protect your future health.

Private healthcare provides the opportunity to skip waiting lists and access breakthrough treatments that may not yet be available on the NHS. However, this does mean paying for healthcare.

Sometimes, you just need access to healthcare services quickly to get back to living the life you love. This is where health insurance can make all the difference, by covering expensive private healthcare bills and providing peace of mind for your future health.

There are many options to consider when it comes to healthcare and it can often be confusing to navigate. Let's explore, is health insurance worth it?

What is private health insurance?

Private health insurance (also referred to as private medical insurance or PMI) is an insurance product that would cover you for treatment in a private healthcare setting when you get ill or injured. 

Taking out a policy is an agreement between you and the insurer that should you fall ill or suffer an injury, the policy will attempt to return you to the same level of health you had when you took it out.

There will be many things to consider when taking out a policy, such as level of cover, excess amount and optional extras.

A favourable consideration when deciding to obtain a medical insurance policy is the wealth of benefits beyond skipping the NHS waiting lists and having private healthcare bills covered. 

Some common policy benefits include: comprehensive cancer cover, access to breakthrough treatments and medicines, free access to 24/7 digital GP services and health support, and gym membership discounts.

You'll only be covered you when purchase a policy before the illness or injury you'd like to claim for. Which is why it's worth weighing up the options of waiting in an NHS queue, self-paying privately or being prepared with insurance.

How does private health insurance work with the NHS?

PMI is designed to support the NHS and work together to provide people faster access to healthcare when they need it.

Private medical insurance aims to reduce the strain on the NHS, whilst providing access to breakthrough cancer treatments, digital GP services and a host of benefits to help towards living a healthy lifestyle.

The NHS is great at dealing with emergencies, chronic conditions and pregnancy, which will always be available to you. Private medical insurance can provide peace of mind that you can skip queues and get access to private healthcare services should you need it.

Even with PMI, you still have access to NHS services too and the choice to use either. They work hand in hand.

Does health insurance mean you can jump the NHS queues?

One of the most attractive benefits of private medical insurance is skipping NHS waiting lists. A non-emergency or specialist treatment with the NHS is likely to have a delay, especially after your first consultation and diagnosis.

With a policy, you can skip queues for treatments the NHS deem as non-urgent, such as: 

• Knee and hip replacements
• Cataract surgery
• Hernia repair

You’ll often still need to see your GP to get a referral to book your private treatment. Some insurers do accept referrals from their digital GP services too, so you may not have to wait for a GP appointment with the NHS.

Some things are better dealt with by the NHS, for example chronic conditions and emergency care, which wouldn't be included in your policy.

What are the benefits of private health insurance?

There are some key benefits of PMI that may not be common knowledge, but can help contribute towards a healthier lifestyle.

Some key benefits include:

• Quicker appointments and diagnostics – get quicker access to non-urgent treatments than you would with the NHS

• Choice of hospitals - you’ll usually get a choice of hospital lists, so you can choose to be treated where you’re comfortable or where suits you best in terms of location
  
  
• Digital GPs – you’ll get access to 24/7 digital GPs. Allowing more flexibility with appointments
  
  
• Cancer cover – private medical insurance polices usually include comprehensive cancer cover, with access to breakthrough treatments
  
  
• Perks  - many providers offer perks, such as: discounted gym memberships, fitness products and food subscriptions.

What isn't included in health insurance?

There are some exclusions to be aware of with private medical insurance policies. Private medical insurance is not designed to cover emergencies or chronic conditions and typically doesn't cover pre-existing conditions.

Some examples of pre-existing conditions include:

• Asthma and other chronic respiratory conditions
• Diabetes
• Arthritis
• Heart disease
• Cancer
• Crohn's Disease
• Cystic fibrosis
• Back pain
• Chronic joint problems
• Allergies
• High blood pressure
• Psychological and psychiatric conditions (depression, anxiety, etc)
• Any injury that occurred prior to obtaining a policy
• All other forms of chronic or incurable illness

It's very unlikely for a pre-existing condition to be covered in a policy, but having one won't stop you getting a private medical insurance policy.

Pre-existing conditions can often be a confusing element of private medical insurance, which is why it's a good idea to talk with an expert adviser to answer any questions you may have and find a policy tailored to you.

How much is private health insurance?

The price of PMI varies from person to person, which is why personalised recommendations from an expert adviser can be essential in finding the right fit. They'll be able to understand your medical history and discuss the options available to you at the best price.

The key factors that will impact the costs of a policy is age and location.

Some policies can start from £25 a month for mid-level cover (which varies between insurer, but could include cover for surgeries, cancer and diagnostics).

It’s important to note that typically policies can be more expensive the older you are, as risks are increased.

Should I buy health insurance online?

Whilst there are many options to buy private medical insurance online, the drawback is that you may not have a full understanding of what’s included or the ins and outs of the policy.

PMI is a complex product, and understanding your medical history and your requirements is essential to getting the right insurance policy for you.

Using a health insurance comparison service, like Usay Compare, makes this complex process much easier. An expert adviser, will be able to understand your needs and medical history to compare quotes from the leading insurers and guarantee the best price.

Speaking to an adviser means your needs are truly understood, and you can ask all of the questions you may have. They’ll make sure you fully understand everything in your policy so that you can carry on with peace of mind, knowing exactly what you’re covered for should you need it.

It's also a free, no-obligation service. You may need time to consider your options, or may decide it’s not right for you at this point, however, it’s always worth talking to an adviser to understand all your options.

What types of health insurance are there?

There are many different types of health insurance available, the most common are individual and family.

Individual health insurance: Focuses on you just paying for yourself. This will be determined by your age, location and medical history. 

Family health insurance:  Will cover each family member, with each person having the same type of basic or comprehensive coverage. With a family plan, you can only include your partner and children, this does not include extended family or parents. 

There are also policies that could be more suited, such as child health insurance policies or health insurance for senior citizens.

It’s worth considering what options work best for you. There are self-pay options and healthcare cash plans available. It’s about making a choice that is manageable for you and your future health.

It’s also worth weighing up what's included with PMI and how any additional benefits and perks could contribute to your life.

If private health insurance is something you’d like to consider or get more information on, you can have a chat to our expert advisers to get a no-obligation, free quote.

Fill out the form below to get a quote or give us a call on: 01285 864670.