Is it Worth Buying Health Insurance

UK residents are entitled to free healthcare from the NHS. But in the last few years, the number of people in Britain investing in private medical insurance has risen significantly, amid fears about the ongoing NHS crisis.

What Is Health Insurance?

Health Insurance, also known as private medical insurance, helps provide peace of mind and supplement area that the NHS does not cover. This means, if you needed medical treatment in the future, you wouldn’t have to worry about NHS waiting lists or paying for the cost of treatment.

What Does It Cover?

Like all insurance products, the cover you get from health insurance depends on the type of policy you buy. Typical health insurance policies usually provide cover for:

  • Inpatient – this included staying in a hospital bed for tests or surgery
  • OutpatientThis includes consultations, diagnoses and treatment, without overnight stay.
  • Day patientThis includes regular appointments, but not staying overnight

Comprehensive health insurance policies are usually more expensive, but cover a larger variety of treatment and hospital access. Many health insurers allow you to tailor your policy from a range of options, including:

  • Physiotherapy
  • Treatment for specific diseases like cancer
  • Psychiatric treatment
  • Dental and optical appointments
  • Medical treatment and nursing at home

Do You Need Health Insurance?

Buying health insurance is very much a personal choice. It can be incredibly beneficial to those who are self-employed as it means quicker treatment and recovery from illness. With long NHS waiting lists, Health insurance can also be great for those who prefer not to wait for NHS treatment.

It’s also worth considering that some drugs and treatment for illnesses, such as cancer, are not offered on the NHS. Health Insurance can be good value for money if you require specialist, expensive treatment. However, if you find your treatment isn’t covered by the policy, you still keep your right to use the NHS.

What Should I Consider When Buying Health Insurance?

Before you buy health insurance, there are few things to keep in mind.

A comprehensive policy will provide unlimited cover for you in most eventualities. Less expensive policies will set a cap on how much you can claim for and will vary according to treatment. There may also be incentives to buy health insurance. Some health insurance provides can offer price reductions on gym memberships, Starbucks coffees, food deliveries, cinema tickets and travel insurance.

However, don’t be too surprised if your premiums rise after each birthday. This is mostly due to inflation and the increased chance of making a claim as you get older, but also covers the cost of advances in technology and testing.

Why Compare Health Insurance Policies With Compare By Review?

We’re lucky to have the NHS, but there’s no denying that access to private care through health insurance can really put your mind at ease. You can now compare insurance by review to see which brand is the best before you buy.

At Compare By Review, we are the first and only comparison site that focuses and ranks providers exclusively on customer experience and product quality. We find the best insurers so you don’t have to. Check out our list of top providers today.