If you are considering taking out a Private Medical Insurance policy there are many factors to consider and the cost of the policy is one of the most important issues to think about. Can you buy a cheap Private Medical Insurance policy that will still offer you the cover you require?
Before obtaining quotations for your policy, there are 8 basic benefit options that you should be aware of. The choice you make that will change the premiums you pay. Options are available as an individual, small business or corporate scheme.
8 choices that can help you achieve a cheap private medical insurance premium:
- Do you need cover at any specific hospitals?
- Can you afford to pay a higher excess?
- Is cover for mental health treatment essential for you?
- Are you happy to self-fund your out-patient treatment?
- Will you need Travel Insurance?
- Do you want cover for dental and optical claims?
- Are there any pre-existing medical conditions to consider?
- Would you be happy to have treatment on the NHS if it was available within 6 weeks?
Speak to a specialist Health Insurance broker about your Health Insurance
When you have an idea of what cover you need, speak to your Health Insurance broker. A broker can help you understand how the choices you have made will affect your policy. Make sure you know what your choice of benefit option means when it comes to making a claim. This is crucial to ensure you have no unexpected surprises. There is no point having a cheap private medical insurance policy if you cannot use it when you want to claim.
Essentially, the cheapest Private Medical Insurance policies will still cover you for in-patient and day-patient treatment in full. If you are then happy to pay a higher excess, have a standard or budget hospital range, remove cover for psychiatric claims, have a zero or lower value Out-Patients limit, omit Travel, Dental and Optical cover you should be able to pay a vastly reduced premium for your policy.
There are some Insurance providers such as Aviva, AXA Health and Bupa who will offer a 6 week wait option which will reduce the premium even further, saving more money on your Private Medical Insurance policy cost, please see our original article below for more details.
https://www.smphealthcare.com/nhs-6-week-wait-option/
If you would like to invest in your health and have a Private Medical Insurance policy that is affordable then please contact the team at SMP Healthcare Ltd. We will be happy to help you make an informed decision about your cover. Make sure your choice of cheap Health Insurance will still offer you the cover you want.
You can contact us by telephone on 01245 929129, email enquiries@smphealthcare.com or by completing one of our online quotation forms.