Who & What Is Covered By Private Medical Insurance

Private Medical Insurance aims at offering certain key benefits which are otherwise not available under the NHS policies. United Kingdom has been the front-runner in providing free medical care for it’s people. But still, there are people who prefer to go the private route as they are ensured of some lucrative advantages such as : allowing them to jump the long NHS waiting lines to get treated for minor conditions, giving greater choice and freedom to pick a specialist and facility of their choice, offering more convenience in determining the time of appointments, treatments and surgeries, ensuring high quality personal care etc..

All these are very attractive and luring, but it is essential to be well-informed of what PMI does and does not cover so as to help make a judicial financial decision. PMI covers medical expenses that are incurred in a private hospital or in a private ward of NHS hospital. It typically covers the costs of incurring treatments from specialists, bills related to consultations, diagnostic tests, surgery, theatre time, accommodation, nursing care, drugs and X-rays. It typically covers short-term illness and diseases which are completely curable. However, there are certain aspects which PMI excludes from it’s coverage such as, expenses related to chronic terminal illness such as asthma, diabetes and all other pre-existing medical conditions. The PMI plans also do not pay for conditions like drug abuse, cosmetic surgery, HIV/AIDS, infertility, pregnancy organ transplants, and dental treatment. It also does not cover GP costs, Accident and Emergency admissions as well as NHS prescriptions.

Age is a crucial factor that determines who will be accepted for coverage under PMI. Generally, insurers accept people of all ages. But the older you are, the higher will be the cost of insurance. There are certain things to consider before one decides on what sort of cover he/she wants to take. They are : How much a person is willing to spend for insurance, What extent of freedom and choice you want while choosing a doctor or facility, Determine whether you want to pay a part for your treatment, Decide whether diagnostic tests and consulting specialists should be included in the plan as outpatient service and Determine what part of expenses are not covered by the plan. All these will have a direct impact on the cost of insurance and the extent of coverage available.

With so many things to consider, choosing a plan with an appropriate cover might prove to be a difficult task. You can always choose a plan that allows you to tailor it to suit your requirements by picking and choosing from a range of options available. However, it always helps to talk to an independent financial advisor who will help you in determining the most suitable plans that are coherent with your lifestyle as well as budget!

Comments are closed.