The National Health Service (NHS) provides all United Kingdom residents with access to free healthcare facilities. However, the long waiting lines associated with the NHS have caused people to seek out other forms of medical insurance.
Private medical insurance cover has grown in popularity in recent years. These types of insurance policies cover the costs of private medical care, allowing the policyholder skip the long waiting lists that the NHS has become associated with.
Private health insurance cover does not require referrals from a General Healthcare Practitioner to see a specialist. That is, you can see a specialist without having to wait to be referred by your GP.
Reasons Why You Need Medical Insurance Cover
Medical health insurance cover has many benefits. By using private treatment, you are able to skip the long waiting lines and referrals needed by the NHS. However, the reasons why you need private medical insurance cover are not only limited to this. They also include:
- Access To Quality Healthcare
Sometimes, people tend to opt for medical healthcare which may not provide the exact treatment they need because they cannot afford better treatments. Quality healthcare choices are often pricey, and those who cannot afford it are left to choose the best of cheaper treatment options which fall within their budget. Therefore, they have limited access to certain treatments, even if those treatments are exactly what they need.
Having a medical health insurance policy takes care of this. Rather than having to settle for second best due to cost, private medical insurance cover means you get access to the best, at no extra cost. You are therefore assured of the best, latest, and most expensive treatments to help you in overcoming your health challenges.
- Coverage of Hospital Charges
With a private medical insurance policy, you have nothing to worry about when it comes to receiving treatment. It is no news that medical costs, from outpatient treatment to diagnostic tests and drugs have become more expensive than most of us could afford if we were to pay for them upfront, without insurance cover. As such, we all need all the help we can get in covering any medical cost that many arise.
Medical insurance policies provide coverage from hospital charges for treatment of a policyholder. These policies not only cover hospital expenses, but they also cover tests and medicine costs. However, this coverage is limited to the policy taken out by the policyholder. Some may cover all treatments; others may cover just some of them. The extent of coverage provided by private medical insurance cover is specified in the contract signed by the policyholder, and you should check your policy carefully to be sure exactly what is covered under the terms and conditions of yours.
- Health Insurance Premiums Are Tax Deductible
One more reason to take out a health insurance policy is that you can also enjoy the benefits of tax deductions on your health insurance plans. The premiums paid in exchange for the coverage provided are eligible for tax deduction. That is, you get your money back by deducting your health insurance policy premium when preparing your taxes.
While there may be limitations to the amount deductible, we can all agree that it would be nice to be reimbursed; no matter how little the money we have paid. This medical insurance deductible is only valid if you have taken out a private medical insurance policy, and make premium payments regularly.
- Our Modern Lifestyle Demands Coverage
It is no news that in recent times, the way we humans live has transformed when compared to years gone by. As such, the health problems we are suffering from have undergone many changes too. From overworking, to pollution, unhealthy eating lifestyles and lack of exercise, we are now more predisposed to health issues than perhaps ever before. Some of our schedules do not even provide us with enough time for general checkups. This means that often we do not realise we are sick until it worsens. As a result, medical insurance coverage is necessary to provide the needed coverage to cater for the increasing health challenges in the world today.
- Retirement Benefits
Unsurprisingly, studies reveal that older people are more prone to illnesses than younger ones. This susceptibility to illness means that at an old age, you are more likely to need medical attention and if you want to take advantage of private medical care, then you need to be prepared to pay for it. This may be difficult because at an older age, your income may decrease and you may be unable to afford the higher medical costs.
Getting a health insurance plan removes this worry as you will be adequately catered for. It will reduce the burden of medical expenses while also giving you access to the best possible health care.
- Preventive Care
It is not enough to visit the hospital only when you are ill, sometimes a general checkup maybe what you need to determine an illness before it worsens. Health practitioners advise that regular checkups be carried out to keep yourself well. These general checkups can mean the difference between catching medical conditions, especially the serious ones, when they are still treatable, and it being too late.
Private medical insurance covers the expenses of these checkups and diagnostic tests. This means that you no longer have to worry about the cost of having to visit the doctor for a checkup.
What Does Medical Insurance Not Cover
The benefits medical insurance can only be enjoyed when your policy provides coverage for the treatment or healthcare you need. Whilst plans vary from provider to provider and some plans will be more extensive than others, there are some things that no private medical insurance covers in the UK. These include:
- Ambulance Services
- Major Eye Surgery
- Dental Treatment
- Home Nursing
- Renal Dialysis
- Wisdom Teeth Removal
- Tonsils and Adenoids
- Chiropractic Treatment
- Open heart and bypass surgery
- Treatment of pre-existing conditions
- Chronic illnesses such as HIV, and some cancers
- Fertility treatment or normal pregnancy
- Cosmetic surgery or sex reassignment
- Corrective eyesight surgery
- Intensive care and emergencies
Quicker access to healthcare is one of the core attractions of private medical insurance. Unlike the NHS, private medical insurance also allows you access to a wider range of specialists, as long as they are within your network. These are just some of the reasons why more people than ever are turning to private medical insurance.