Hello everyone and welcome to my new website about health insurance broker news in the UK. I've worked in the health insurance industry for many years so thought I'd start a small blog about it. I have a lot of people asking me about Corona Virus and health insurance at the moment so where is how it will be effected.
Impact of the coronavirus on health insurance
With 8,000 beds and nearly 20,000 private hospital workers recruited to support the national coronavirus effort as of this week, the provision of private health care will be affected. Private providers are handling urgent NHS elective cases to release the NHS to deal with COVID-19. But as the epidemic grows, their attention may also turn to patients with coronavirus. The effects on private health will become clearer as the events unfold, but private insurers have said which one? last week that prices would not be pushed because of the coronavirus. Meanwhile, private healthcare providers are bypassing self-isolation by providing more care through a mix of phone lines, online, and apps. The NHS and private patients should expect delays in non-emergency non-emergency surgery. Some services may be even more easily accessible in private. Saga suggests that these could include access to drugs and treatments, including breakthrough cancer treatments, which are often not available on the NHS, home cancer treatment or self-referral for the Cancer. Elsewhere, the speed with which wait times are restored is unknown. Some private diagnostics appear to need to remain available, so that patients will be ready for treatment once capacity is restored.
Why buy health insurance?
Health insurance, also known as private medical insurance, is designed to ensure that if you need medical treatment in the future, you won't have to worry about NHS waiting lists. or pay the cost of treatment. If you are treated privately, health insurance will pay all or part of your bills. It should allow you to diagnose and treat quickly, as well as quickly refer you to a consultant and be admitted to a private hospital at a time and place that is convenient for you. With health insurance, you will have the choice of a private hospital from an agreed list provided by your insurer - most hospitals offer a private room with a bathroom, a TV and a choice of food, which you will not necessarily get as a normal patient. In short, the main advantages of private health insurance are: Shorter wait times for NHS treatment Better facilities Faster diagnosis Choose from a range of private facilities Choose a suitable time for appointments and treatments
What it does - and doesn't cover
Health insurance covers a range of things, including exclusive medications, hospital stays, scans, and surgeries. Inpatient treatment is when you need a hospital bed and is covered by most plans. Outpatient treatment means you are visiting external specialists or consultants, and is generally available on more expensive policies. Different plans will offer different options. However, chronic conditions, A&E visits, drug abuse, organ transplants, normal pregnancies and nonessential cosmetic treatments are generally not covered.
How much does it cost
The cost of your health insurance policy depends on:
Your age, because it costs more when you are older
Your medical history, e.g. if you have had cancer, diabetes or high blood pressure
Family history of illnesses such as heart disease, cancer or stroke
Your lifestyle could increase the premiums if you smoke or are overweight
What you cover, because including more conditions and types of treatment costs more
These factors can also affect whether you can get certain policies. For example, some insurers do not offer coverage for pre-existing conditions.
How to reduce the cost
Claim-free reduction: Once you have taken out health insurance for a period of time, your premiums may be cheaper if you do not make any claims.
The excess: this is the amount you have to pay for the treatment yourself when you request it. Choosing a higher excess generally lowers your premiums, but makes the policy claim more expensive.
Adding a waiting period: this could offer you cheaper coverage. This means that if the NHS waiting list is less than your waiting period (for example six weeks), you must get your treatment through the NHS. If the waiting list is longer, your police will pay for private care.
Use of designated hospitals: your premium may be cheaper if you choose to be covered only in a few hospitals or surgeries. Make sure the ones you choose are nearby, or offer specialized treatment or facilities you may need.
Prove your health: some insurers reduce your premiums if you don't smoke or regularly use a gym.