Is Private Health Insurance Worth The Cost?
In the UK, more than seven million people have private health insurance.
This type of insurance is taken to cover part or all of the cost involved in private medical treatment if the policy holder becomes ill or gets involved in an accident.
These days, issues about the NHS waiting lists are making headlines and for this reason a large number of people are opting for private health care insurance.
But, is private medical insurance worth the cost? To answer this question, let us check out some of the major advantages and disadvantages of private health care insurance.
Advantages A large number of people choose to get private medical insurance for a number of reasons.
But, the major reason is that it gives individuals the peace of mind that they can get treatment whenever they need without the need to wait.
On the NHS, you could end up waiting for several months if you have to get a non urgent operation done.
With a private insurance plan, you can get your operation done within a few days.
Some of the other advantages are as follows: 1.
Convenience - you have the option to choose where and when you want to your operation to take place.
You don't have to fit your schedule around a date provided by the NHS.
2.
Choice - you get to choose which professional you want to see.
3.
Quality - most people prefer having a single room which consists of high quality features like satellite TV and en-suite bathroom.
4.
Cleanliness - another major advantage is that private hospitals are able to afford for more staff and as a result have more time for cleaning.
This reduces risk of hospital related infections.
5.
Service - private doctors and staff give more time to their patients and attend to each of their needs.
Disadvantages The private health care policy covers you for everything that you can afford.
This means that you get what you pay for.
In most cases, people are surprised to see that the insurance they have taken doesn't cover them for everything that they had presumed.
Generally, such polices only cover short term illnesses and with more complex conditions, it can be available only as an addition.
Some of the other disadvantages are: 1.
Such insurance may not cover for pre existing conditions - this means that you won't be able to receive treatment for this condition under the plan.
2.
Cost increases with age - as you age, you can expect to pay higher premiums.
3.
Specialty and size of the private hospital - most private hospitals do not have intensive care support and you may also be missing out on the level of experience available in a multi-disciplinary teaching hospital.
Conclusion There are many advantages of having private medical insurance and there are also a number of disadvantages.
Private medical insurance is worth every penny if you are able to get the most out of it.
There are a number of ways of cutting costs of a health insurance and if you shop around carefully, you will be able to find something affordable and something that is worth every penny that you have spent.
This type of insurance is taken to cover part or all of the cost involved in private medical treatment if the policy holder becomes ill or gets involved in an accident.
These days, issues about the NHS waiting lists are making headlines and for this reason a large number of people are opting for private health care insurance.
But, is private medical insurance worth the cost? To answer this question, let us check out some of the major advantages and disadvantages of private health care insurance.
Advantages A large number of people choose to get private medical insurance for a number of reasons.
But, the major reason is that it gives individuals the peace of mind that they can get treatment whenever they need without the need to wait.
On the NHS, you could end up waiting for several months if you have to get a non urgent operation done.
With a private insurance plan, you can get your operation done within a few days.
Some of the other advantages are as follows: 1.
Convenience - you have the option to choose where and when you want to your operation to take place.
You don't have to fit your schedule around a date provided by the NHS.
2.
Choice - you get to choose which professional you want to see.
3.
Quality - most people prefer having a single room which consists of high quality features like satellite TV and en-suite bathroom.
4.
Cleanliness - another major advantage is that private hospitals are able to afford for more staff and as a result have more time for cleaning.
This reduces risk of hospital related infections.
5.
Service - private doctors and staff give more time to their patients and attend to each of their needs.
Disadvantages The private health care policy covers you for everything that you can afford.
This means that you get what you pay for.
In most cases, people are surprised to see that the insurance they have taken doesn't cover them for everything that they had presumed.
Generally, such polices only cover short term illnesses and with more complex conditions, it can be available only as an addition.
Some of the other disadvantages are: 1.
Such insurance may not cover for pre existing conditions - this means that you won't be able to receive treatment for this condition under the plan.
2.
Cost increases with age - as you age, you can expect to pay higher premiums.
3.
Specialty and size of the private hospital - most private hospitals do not have intensive care support and you may also be missing out on the level of experience available in a multi-disciplinary teaching hospital.
Conclusion There are many advantages of having private medical insurance and there are also a number of disadvantages.
Private medical insurance is worth every penny if you are able to get the most out of it.
There are a number of ways of cutting costs of a health insurance and if you shop around carefully, you will be able to find something affordable and something that is worth every penny that you have spent.
