The NHS can only do so much.
So when you have to have a routine test or investigation, many other people will be in the same boat and ahead of you in the queue. Therefore, it can take some time to get tests done. If further investigations are needed, further queueing maybe necessary.
Private medical insurance is designed to take you out of the NHS system and into private medical care; which then means that your waiting time is significantly reduced, giving you peace of mind that if anything is seriously wrong, you are not waiting a long time to find out and be treated.
You also will have access to drugs and treatments that may not be funded by your local NHS trust thereby aiding you in a swift and speedy recovery.
Private medical insurance is designed to work alongside – not to replace all the services offered by the NHS; and in all cases clients retain their right to use the NHS.
There are many levels of cover from basic to comprehensive and it is not always straightforward to compare how each policy will benefit you. So it pays to talk to an adviser to ensure you get the best policy for your budget and health concerns.
Private medical insurance is age-costed, so your price will increase as you get older. Some policies increase more than others, so it pays to speak to a Roxburgh adviser to fully understand your options.
Which option is best for you?
Roxburgh Financial Management was set up to provide specialist help to people unsure how to go about choosing from the many protection products available. For example, some private medical insurance policies will only pay for the really serious conditions but all of your scans and tests that have led up to your diagnosis you have to fund. So it’s important to make sure that if you’re buying a policy it’s the right one for you.
Our specialists will help you to navigate all the options to find the cover that is right for you and your family at an affordable rate.
Five reasons to use us
1. We offer insurance advice with no obligation
2. We will explain the good, the bad, and the ugly
3. We will ask the right questions
4. We do all the work, right through to helping complete the application form
5. We can access a comprehensive range of insurance providers
Private medical insurance options
There are lots of different plans to choose from and while basic policies cover essential treatments, more comprehensive policies may include specialist therapies and medicines such as acupuncture or chiropody. It is therefore important to determine what you need and what you would like so we can find the best private medical insurance policy available to you in the market place. Below are some of those options.
Many policies charge an excess – the initial charge levied when a claim has begun. The lower the excess, the more the policy will cost. Providers can offer an excess per year or per claim.
This is a way of keeping your cost down but also restricts the use of your plan. If your condition can be treated by the NHS within six weeks, you can not claim on your plan. Therefore, the six-week option is for conditions that have long waiting times with the NHS.
Insurers for the most part won’t cover you for pre-existing conditions but some conditions, might be covered by some insurers.
In-patient and Day-patient
Some of the cheaper policies will not cover you as
A day patient – A patient who is admitted to a hospital or day patient unit because they need a period of medically supervised recovery but does not stay in a bed overnight.
An inpatient – A patient who is admitted to hospital and who stays in a bed overnight or longer, for medical reasons.
An outpatient is a patient who attends a hospital, consulting room, or outpatient clinic and is not admitted as a day patient or inpatient. Out-patient cover is not a standard cover but can be obtained with limits as well as with full cover. Seeing as only around one in five referrals by GPs leads to hospital admissions, policies which don’t cover out-patient costs are likely to be much less usable than those that do. You can have a policy with a yearly spending limit, thereby keeping your cost down or you can have unlimited benefit (most comprehensive).
Specialist and therapy such as physiotherapy and complementary therapy may be included in some policies. Including therapies cover is more expensive than not.
Many policies also include exclusive drugs which are unlikely to be available on the NHS. There can be limits on cover for drug treatments.
Most providers have hospital lists such as below:
Local – Cheapest Option
All treatment will be provided at a hospital local to you, within a 25 mile radius. This does not mean that all hospitals within 25 miles are accessible – there will be a predefined list offered by your insurer
Nationwide – Middle Option
Treatment is offered at most of the private hospitals within the country with the exception of some Central London hospitals (the Bupa Cromwell for example). The list is pre-defined.
Nationwide, plus Central London hospitals.
Hospitals such as the Bupa Cromwell and Portland Street have higher fee rates, so including an option to use them on your plan increases the comprehensiveness of your plan but also your price.
There are other hospital options that vary from company to company but the above covers the majority of your options.