Private Health insurance in the UK has many elements to consider. We recommend that everyone looking to Compare Private Health Insurance should have expert advice on how to do it.
Compare Private Health Insurance as a new client
If you have never considered private medical insurance before, work with an expert! This has to be the best advice for everyone. There are a number of insurance providers in the UK market. Each one offers something different. The Core benefits are essentially the same, from there on in you have a number of options.
How can SMP Healthcare help you Compare Private Health insurance?
We have many years in the health insurance market and know that the best place to start is a conversation. Talking through what you are looking for, your medical history and your budget ensures we know exactly what you want.
Having this conversation will establish whether an individual policy or business policy is the most beneficial option. We can explain to you what type of underwriting is the better option.
If you have little or no medical history to consider then full medical underwriting may be your best option. Completing a medical questionnaire at the start of your policy could save time when you make a claim. Any exclusions would be shown on your certificate.
Where does it go from there?
Quotation stage
Now that we know what private health insurance you want, we go to the market for you. Having established the date you want your cover to start. We request quotations with this start date.
Rest assured if there are any joining offers available we will let you know. If you have requested a start date of the 1st January and Bupa have a 2 months free deal that finishes on the 31st December. We let you know. We don’t want you to miss out on saving money for the sake of a single day!
Once we have received the quotes, we put together a market review (jargon free). You can then clearly compare private health insurance options available to you.
It is essential that the comparison is done on a like for like basis. SMP Healthcare do this as standard across the insurers on our panel.
Making a decision about which health insurance policy you buy
The Market review we prepare will be sent to you by post or email. This gives you time to review the information without feeling under pressure. The recommendation we give is supported by the insurer’s literature. You can then cross reference information where you need to.
We will arrange a time to contact you to discuss the review in detail and answer any questions that you have. A recommendation will not always be based on price. The cheapest option may not necessarily be the policy that best suits your requirements.
Within the review we will have shown you ways you can save more money. There will also be options to enhance your cover. Perhaps when you have looked at the insurers’ literature you will want to increase your cover to include an optional extra. Whether you want to reduce the cost or enhance your cover, we will provide you with re-quotes on this basis.
Buying your new policy through SMP Healthcare
Once you are totally happy with your policy choice we will set the policy up for you. We will send you a partially completed application form where applicable. In some cases now, policies can be set up on line. Where this is available, one of our team will call you to go through the application process.
The policy documents will be sent to you directly from your chosen insurer. Due to the protection of personal data, they no longer send certificates to your broker. If you would like us to check the certificate details for you, please scan and send us a copy. We are more than happy to check that all of the details are correct.
How much does it cost to compare private health Insurance through SMP Healthcare?
Nothing, the cost to you as our client is zero. We are paid by the insurer by way of commission at the start or renewal of your policy. We have nothing to hide and if you would like to know what commission we have earned from your policy we will confirm this to you.
Compare Private Health insurance at the renewal date of your policy
If you already have a private health insurance policy in place it will renew on an annual basis. You should receive your renewal offer at least 4 weeks prior to the renewal date. This will give you time to look at the options available to you. We always advise people to look at the renewal of their policy as early as possible. You do need the renewal offer from your current insurer before you can look at other providers.
How can SMP Healthcare help you Compare Private Medical Insurance at renewal?
If you would like us to help you with the renewal of your private medical insurance, it is a simple process.
- We will send you a customer authorisation form. This confirms to your insurer you have asked us to help you with your health insurance renewal comparison. The signed form will be sent to your insurer and processed.
- A call will be scheduled to discuss your current cover and what you want from your policy moving forward. We will discuss any medical treatment (NHS or private) that has recently occurred. You would also need to let us know if there is anything planned or pending. Hopefully you will not have any issues with your current insurer, now is the time to tell us if you have.
Historic premium information is a key element to getting the best prices. The more information we can provide to the quoting insurers. The better the chances of you receiving a more competitive comparison. It will help their pricing team to accurately assess your policy.
- Having all the relevant information we will request quotations from our panel of insurance providers. We will then provide you with a full market review. Our review will confirm your current cover and a comparison to other insurer options. We will make a recommendation and will provide a benefit comparison table. By doing this you can easily see the differences between the options if a switch of provider is recommended.
- Once you have reviewed the information in the market review, if you decide you would like to renew on our recommendation, we will provide you with another customer authorisation form. This second form will appoint us as your broker and will be sent to your insurer.
- Only once appointed to your scheme will we be able to negotiate any discount from your current provider. In some cases we would ask you to appoint us prior to your final decision. If the market review is favourable there will be a good chance we would be able to secure a discount for you. Knowing the discount available from your current insurer could affect our recommendation.
- Having appointed us as your broker we will then process your renewal for you. All of the administration will be completed for you. If you remain with your current provider we will confirm this to them, if you change insurer, we will deal with the switch process for you.
Switching Provider following a full health insurance comparison
You are actively advised to review your insurance on an annual basis. Some people are reluctant to switch their health insurance due to pre-existing conditions and previous claims. At SMP Healthcare we would never recommend that you compare private health insurance and automatically change provider.
Saving money on your policy is a great idea but not if it means you will lose cover for pre-existing medical conditions.
We would only recommend a change of provider if it would not jeopardise your cover in any way. This applies both now and for the future.
Benefit levels you can review at the renewal of your policy:
Are you actively looking to save money at the renewal of your health insurance policy? If you are then there are a number of things you could consider when you compare private health insurance.
| Benefit Type | Options at renewal |
|---|---|
| Out-Patients cover | Reduce it or remove cover altogether if you can afford to self-fund out-patients treatment. |
| Excess Level | You can add an excess or look to increase the excess you have (if available) |
| Therapies cover | Removing cover for therapies will provide a small saving |
| Reduce or remove cover for psychiatric claims | |
| Cancer cover | Remove or reduce your cancer cover where available |
| Sundry add-on benefits | Remove cover for Dental & optical, Travel or EAP/ personal health funds. |
| Hospital Lists | You can reduce your hospital cover if your insurer offers different hospital lists. |
You can save money by implementing one or a combination of changes if you currently have a full refund, comprehensive policy.
Which insurers are on our panel for your private health insurance comparison?
Most insurers in the UK will offer consumer and business health insurance policies. Below are the providers we have on our panel. Please note that The Exeter and National Friendly only offer consumer policies.
Aviva ∙ AXA Health ∙ Bupa ∙ Cigna ∙ The Exeter ∙ Freedom Health Insurance ∙ General & Medical ∙ National Friendly ∙ The PHC ∙ Vitality Health
How much does it cost to compare private health Insurance at renewal through SMP Healthcare?
Nothing, the cost to you as our client is still zero. We are paid by the insurer by way of commission at the start or renewal of your policy. We have nothing to hide and if you would like to know what commission we have earned from your policy we will confirm this to you.
The Team at SMP Healthcare are ready to help you compare private health insurance. Please get in touch if you would like to work with a specialist and independent broker. We guarantee that our recommendation will be unbiased. We have no affiliation with any insurer.
Telephone: 0800 047 0127
Email: enquiries@smphealthcare.com
Obtaining a private health insurance comparison is the best way for you to look at saving money on health insurance. At SMP Healthcare we cannot guarantee that a saving can be made every year. Claims adjustment and rate reviews are beyond our control.