How does private medical insurance work?

We are all entitled to free and comprehensive medical treatment under the NHS, and more often than not, the service received by patients is second to none. However, there are times when you may wish to look into the possibility of taking out private medical insurance to make sure that all you medical needs are in the best hands. Although the NHS is the envy of the world, in terms of the free treatment and care available to all, there are times when you may want to pay that little extra to make sure you are looked after to the highest possible standards. Anyone who takes out private medical insurance can expect to avoid potential delays that may occur for NHS patients, such as waiting lists, as well as being accommodated in a private ward or individual room. Private health insurance covers all specialist medical costs such as surgery, x-rays, nursing, medication, as well as post operation treatment and after care. As with any form of insurance, different policies offer different cover and you should examine all your possibilities and what you are covered for before purchasing a premium. When opting for private health insurance, most companies will ask a number of questions regarding your current state of health, along with any existing ailments you may suffer from or have caused problems in the past. Quite often, health insurance policies will not cover you for existing or untreatable conditions such as diabetes that require ongoing treatment, or any other health problem that has arisen in the previous five years. Though not essential for most, those in a position to take out private health insurance will have the option of two types of cover. A fully underwritten policy will require you to disclose your full medical history to an insurer who will then negotiate a premium that will suit your needs – and what conditions will and will not be covered. Alte atively there are moratorium policies, which offer blanket exclusions on treatment for existing medical conditions. Moratorium policies are often a cheaper option but will offer you less comprehensive cover for claims, especially if an examination shows a condition came about during the duration of the policy. Some policies offer a no claims bonus for holders who do not make claims, though this should not deter patients from seeking medical treatment if it is required. The cost of premiums varies greatly and it is worth shopping around for the best health insurance deal. Your age and general health will be taken into account and premiums often rise annually to cover increase in medical costs. There are a number of NHS services that private health insurance won’t replace, such as accident and emergency treatment. You may also still find yourself in an NHS hospital even though you are receiving private healthcare treatment. Before signing up for a policy, make sure you do not already have private medical insurance through your job. Many companies offer health insurance to their employees as a perk.