When you’re healthy you don’t really think about being ill and having the right health and medical insurance. However, with increasing medical costs it is prudent to think ahead and have the proper coverage in place for yourself and your family.
Although you are eligible to receive free medical services through the NHS, waiting periods can be long and wards may be crowded. The NHS provides important services such as emergency and intensive care medical services. But when it comes to long-term medical care, elective surgery and other medical services, you may be better off turning to private health and medical care. Private medical care can be made affordable through health and medical insurance.
Health and medical insurance comes in a variety of types and costs. By pinpointing exactly what you and your family require, you will be able to get the most suitable coverage for you.
Private medical insurance, also known as PMI, is a general term that describes insurance policies that provide money so that you or your family can be treated privately, for medical problems. Unlike the NHS, this means that you can choose your treatment, your hospital, your doctor and the time you want to have treatment.
The biggest benefit of having health and medical insurance is that it is flexible and caters to your needs. The cheapest form of insurance coverage is what most insurers term NHS plus or NHS top up covers. Such coverage supplements the cover you will automatically get from the NHS. For example, it can pay for a private room, reduce your waiting time for treatment or pay out a lump sum, if you are diagnosed with a terminal illness.
Another form of health and medical insurance coverage can give you access to a range of doctors and hospitals in a predetermined network. You can go to any physician, hospital or clinic, as long they are part of the insurer’s network. In some cases, you can go ‘out of network’ with prior consent of the insurance company, if you require some specialised treatment at a hospital not in the network.
The most comprehensive health and medical insurance will basically ensure coverage for most health and medical-related events, as well as some elective surgery. The insurance will pay for consultations, tests, check-ups, operations and a private room. Some policies will also cover elective surgery, such as cosmetic or plastic surgery.
Generally health and medical insurance policies run a term of 12 months and can cover individuals or families.