Private medical insurance

Private medical insurance covers the cost of private medical treatment for curable short term medical conditions known as acute conditions. It can cover the cost of specialists, accommodation, nursing and surgery at a private hospital or in a private ward of NHS Hospital.

Insures you for hospital or emergency treatment. Includes in-patient and day care treatment and sometimes post hospital treatment, pregnancy complications, emergency dental treatment and nursing at home. However, it doesn’t cover routine maternity, out-patient or dental costs. 

Usually have higher budget limits than standard cover. It will cover all areas that a standard plan covers as well as specialist and out patient treatment. 

Different companies offer different complex products so it is important that you get help from an Independent Financial Advisor. 

The most usual and affordable way to start a new Private Medical Insurance Plan is by a moratorioum, as long as you are in good medical health. Providing medical history isn’t required to get moratorium Medical Insurance Cover. How the medical company may not cover any medical condition, which you have suffered from in the last 2 –5 years. Such conditions may become eligible for cover when you no longer have symptoms or receive treatment for normally 2 years after you policy has been effective. 

This has pros and cons. For example, if you had a benign lump removed last year took on moratorium plan, then 18 months into your new plan you are diagnosed with cancer, this could mean the cancer amy excluded owing to the begnign lump condition being a pre- existing condition of less than 2 years. 

These plans are quick and very easy to take out but you need to be careful when considering what treatment you have had in the past five years and whether or not such medical problems might re-occur. 

Most private medical insurances carry a list of general exclusions the most common are:

Medical conditions which you may have suffered from in the last 5 years may also be excluded. 

Private Medical Insurance Companies increase premiums in line with Medical Inflation on an annual basis. Premiums are probably bracketed in tiers of 4-5 years before they increase You can often get a cheaper rate by to a voluntary excess or paying annually rather than monthly. 

All insurance companies pay valid claims but they will not pay claims which are outside the cover of your particular private medical insurance plan. If treatment is needed, it’s best to contact your insurer’s client service department before you incur costs. They will be able to offer you advice and support for claim administration. Some companies pre-authorise all claims which means that the insurance company will pay the bills directly so you don’t have to pay doctor or hospital bills yourself. If your insurance company doesn’t pre-authorise. The original bills will be requested with a claim form submission. If in doubt always call the help lines before seeking treatment and committing yourself to costs. 

To find out more about Health Insurance please call 0845 345 511.