We are often asked how much private medical insurance will cost? If you are searching for a policy for you and your family, how will you know the actual Health Insurance Cost on a monthly basis?
There are so many variables that could affect the premium. When you are looking at individual or family cover, the cover levels you choose will be a major factor.
Even without looking at benefit levels, your age, postcode and previous medical history could affect your monthly premium.
Think about the following health insurance options?
- Is there a specific private hospital that you would like to have access to?
- Do you want to have cover for psychiatric or mental health problems?
- What excess could you afford to pay, £100, £250, £500 or £1000?
- Would you need cover for therapies such as physiotherapy and osteopathy?
What would the current health insurance cost be for a person who is 30 years old?
With many providers in the UK, we have looked at one specific insurance provider to give you an example.
For a full refund policy including cover for mental health conditions and based on the Extended hospital list with an excess of just £100, the monthly premium would be £65.90.
For cover on the Fundamental policy which provides reduced out-patients cover, has no cover for mental health, is covered on the Extended hospital list and has an excess of £100, the monthly premium would be £32.57.
*This example is based on a 30 year old with a RG22 postcode and has a start date of 1st December 2017. The underwriting would be moratorium and the quotation obtained on 22nd November 2017.
Elements that could improve the monthly premium for you?
Remember, there are any number of offers, promotions and inception or switch offers available at any given time. You should always compare private health insurance and look at the market options before making your decision. The cheapest premium might not be the best policy for you. There is more than just the health insurance cost to consider.
The team at SMP Healthcare Ltd would be happy to help you find a policy that suits both your requirements and budget. Our staff are more than happy to explain in more detail the benefit options available on both individual and company private healthcare schemes.
If you would like more information, please contact us on 01245 929129 or enquiries@smphealthcare.com