Private Health Insurance Costs
When you purchase private health insurance you will be required to pay a monthly premium. The cost of the premium will usually depend on your current state of health, your medical history and the level of cover you require. Basic health insurance is available from as little as twelve pounds a month, whilst comprehensive cover can be more than forty pounds a month. For example:
Policy X – Basic
- Covers: hospital charges e.g. accommodation, medical practitioner fees, tests, physiotherapy, chemotherapy and minor surgery.
- Costs: £12 a month / £144 a year
Policy Y – Moderate
- Covers: hospital charges e.g. accommodation, medical practitioner fees, tests, physiotherapy, chemotherapy, minor surgery and specialists' fees, out patient tests and treatment, a private ambulance and parent accommodation if a young child is receiving care and the parent wishes to stay overnight.
- Costs: £29 a month / £348 a year
Policy Z – Comprehensive
- Covers: hospital charges e.g. accommodation, medical practitioner fees, tests, physiotherapy, chemotherapy, minor surgery, specialists' fees, out patient tests and treatment, a private ambulance and parent accommodation if a young child is receiving care and the parent wishes to stay overnight, psychiatric care, out patient physiotherapy, nursing care at home and NHS cash benefit (money paid to patient each night that they choose to spend in an NHS hospital bed rather than a private bed).
- Costs: £66 a month / £792 a year
These figures are all taken from current health insurance policies on offer. Nevertheless, policy prices are subject to change depending on the provider you choose, your personal medical cover requirements and your medical history.
Even if you have private health insurance, your provider will not reimburse all costs associated with a period of illness or medical treatment. You will be expected to cover certain costs yourself, such as NHS prescription charges, the cost of experimental drug treatments and the cost of cosmetic surgery, see Exclusions. It is very unlikely however that any regular treatment to fight an illness or disease from which you are suffering will not be covered by either your insurer or the NHS.
If you are ill or require medical assistance and are eligible to make a claim, you will usually be required to pay the first part of the claim yourself. This is known as paying the excess; it is described in detail in Excess.
