How much does private medical insurance cost?

If you want to know how much it would cost to buy a private medical insurance policy in the UK we hope the following information will help you. Finding out the medical insurance cost for an individual policy is a simple process.

  • 1: The amount  you pay as a consumer will depend on your age.
  • 2: Your premiums as a consumer will depend on where you live.
  • 3: Premiums you pay as a consumer will depend on the benefits you choose.
  • 4: Your health insurance premiums would reduce if you add an excess to your policy.
  • 5: The cost of your health insurance could be reduced by changing the hospital list you have access to.

In essence there is not a “standard” cost for private medical insurance as most policies are modular and therefore offer maximum flexibility. It is great that the UK insurance companies realise that there is not a “one size fits all” requirement.

How a health insurance broker can help

Working with a specialist private medical insurance broker can certainly help you to work out what it is you want from your policy and therefore make it easier to work out the price you would pay for the health insurance you need.

To give people an accurate guideline on the cost of private medical insurance we have obtained quotations for “Mr Smith”. He is a non-smoker and for this exercise we have used a postcode from Chelmsford in Essex.

The quotations shown are current for a policy with a start date of 10th January 2020 and are from one of our fantastic insurance providers who specialise in individual clients and families. The premiums are inclusive of insurance premium tax.

The premiums are payable monthly and based on moratorium underwriting and “Mr Smith” does not have a policy in place currently. We have based the cover on a single person membership status.

Table of medical insurance premiums:

AgeComprehensiveMid-rangeBudgetCore Cover


*Comprehensive cover includes full refund for out-patient and therapies, mental health cover and London hospitals with £100 excess with a protected no-claims discount.

** Mid-range includes £1000 out-patient limit, £500 therapies cover, mental health cover and standard hospitals with £250 excess and no protection for your no-claims discount.

*** Budget cover includes £500 out-patient limit, £500 therapies cover, no mental health cover and the Essentials hospital list with a £250 excess and no protection for your no-claims discount.

****Core Cover does not offer any cover for out-patients, therapies or mental health treatment. The hospital list is Essentials and there is a £500 excess.

Core cover will pay for in-patient and day-patient treatment of eligible claims and still offers full cancer cover with no time or financial limits.

All four policy options shown include the core cover benefits, the more “add-ons” you opt to have, the higher the premium will become. You could choose to have comprehensive cover with a higher excess or you could choose to remove the excess from any of the quote options completely.

Remember, modular health insurance policies offer consumers complete flexibility and the ability to find a cover that will suit their budget.

About SMP Healthcare and how we can help?

The team at SMP Healthcare are here to help our clients find a policy that is right for them. Our staff have many years of experience in the health insurance sector and can help individuals, families, small businesses and corporate clients find the right solution.

We are based in Essex but have clients all across the UK who benefit from working with a truly unbiased and independent private medical insurance broker.

If you would like to discuss your requirements for the future, please contact us:

Telephone:  01245 929129


**This is a financial promotion**