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Private Medical Insurance
One reason health
care cost is so high is that procedures, technology and diagnostic
methods are constantly improving. Thanks to these advances, a
growing population is living longer than ever. This has put an
enormous burden on the NHS. In 2008, over half a million people
waited four to five weeks for admission to NHS hospitals.
More and more people are opting for private health insurance over
NHS. Private insurance usually buys treatment at better health care
facilities, and the wait time is much shorter. With an abundance of
different policies to choose from, however, it can be difficult to
know which one is the best. Before deciding, it is wise to know
exactly the kind of coverage that is desired and the amount
available to pay for such a policy.
Private Medical Insurance (PMI) offers some distinct advantages over
NHS. The wait time for private treatment is considerably shorter.
The insured chooses his or her own physician. Private care patients
enjoy private rooms and unlimited visiting hours. Also, most private
insurance carriers have a list of specialists who deal specifically
with one type of illness.
One of the disadvantages of a PMI policy is that these policies
donít cover everything. Previous and chronic conditions are usually
excluded. PMI also does not cover accidents, pregnancy or NHS
prescriptions. Not all visits to the GP are covered. Due to
increasing demand for more expensive treatments, PMI premiums are rising at approximately ten
percent a year.
Different types of policies provide different types of coverage. The
more expensive the policy, the more it is likely to cover.
Because PMI has limited coverage, an additional Critical Illness
Insurance can do much to alleviate the stress of a serious illness.
Critical Illness Insurance pays a lump sum to help with medical
costs and loss of income. In the event that a child is critically
ill and is staying at a hospital that is some distance away, most
Critical Illness Insurance policies pay for a parent to stay with
the child. The benefits of a Critical Illness Insurance policy
depend on what type of policy has been purchased, but policies are
available at a minimum of £5.
No one wants to get sick. But if illness strikes, it is good to know
that a plan has been set up to alleviate financial headaches.
Private Medical Insurance - probably the largest choice of
Private Medical Insurance in the UK!