Are you looking for some extra support with your health? There are options to help you save money with private medical insurance. Or even individual healthcare plans just for dental, physio, or optical. We go into some of your options.
Private Medical Insurance (PMI) allows you to bypass the NHS. Covering private consultations, treatments and operations, and hospital accommodation. Think of PMI costs as prepaying for care. For example, the younger you are the less potential you need care. But as you get older, you may need more appointments.
Things to think about when working out the costs:
• Which hospitals can you use? More options will drive up the price. But you may be able to save money here if it’s not an issue.
• What treatments do you want to cover? Extra options (and cost) include cancer and mental health. What would you feel ok using the NHS for? And what treatments would you prefer to go private? (hint – look at waiting times online)
• 'Full medical underwriting' (FMU) vs 'moratorium'. With FMU, you disclose your medical history at sign-up (possibly via a check-up). Moratorium will automatically exclude pre-existing medical conditions.
If you already have PMI, you may get a cheaper deal by shopping around. (Unless you have a pre-existing condition). Often, premiums go up each year. But you could always ask your provider for a cheaper deal!
Another factor is looking at your excess. If you want a 'cover everything' policy. Or only a 'cover big things' policy. Go high excess if you want 'emergency only' cover. You could always put aside money to save for bigger expenses, but be covered for emergencies to save costs.
Confused or can't find what you want? Use a broker.
If you're confused or have conditions that make things difficult. Brokers can answer questions about cover, particular insurers' records, rules, and more. Most are free to use.
Extra ways to save money with healthcare cash plans!
Healthcare cash plans can help cover the costs associated with contacts/glasses and dental check-ups. Other bonuses include:
- Therapies (physio, chiropody, osteopathy, acupuncture)
- Consultants & tests (physician/surgeon & PET, CT or MRI scans)
- A payment each day you're in hospital (even if you don't pay anything)
- A payment for maternity or paternity
- Some providers cover a portion of prescription charges
- Health screening
- Personal accident
And finally… Are you overpaying your prescriptions and medications?
Many people pay for prescriptions in England when they shouldn’t. You might be able to get them for free. Or they're cheaper over the counter. If you get a lot of prescriptions, you may find prepay prescription certificates can slash the cost. Plus, buying over the counter might be cheaper than using your prescription.
Find out more here: https://www.nhsbsa.nhs.uk/help-nhs-prescription-costs
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