The NHS is at breaking point – with limited resources, underfunded and under staffed along with extended waiting times for consultations, diagnostic tests and surgical procedures. Yes the NHS is good in an emergency situation but fails with the after care and the ongoing treatment. Coupled with the denial of life saving cancer drugs on the NHS due to cost, more people are now looking at private medical insurance as an alternative option for peace of mind – and premiums are more affordable than people imagine.
Private medical insurance offers faster access from the referral
with your GP to the consultant and diagnostic tests, this allows for a more speedy diagnosis and early treatment plan to be put in place whether it be surgery, physiotherapy or treatment for cancer the chances are better for recovery with an early diagnosis. Private medical insurance also covers Cancer drugs such as biological therapies, Hormone replacement, bisphosphonate treatments, and targeted drug therapies along with stem transplants which are not always available on the NHS due to cost. Palliative care can be covered if deemed necessary along with reconstructive surgery after cancer especially after breast cancer surgery. Some insurers are also offering a donation towards wigs when under taking chemotherapy along with home nursing, private ambulance and Private GP.
Private medical insurance policies can be tailored to fit any budget and come in the forms of budget, mid-range or comprehensive. It is possible to limit the outpatient benefit and choose such extras as Psychiatric cover and alternative therapies. An element of dental and optical cover can be added if required. Private hospitals have luxury private rooms. Choose a hospital list that suits your geographic location, being advised on the hospitals available on the policy and choosing which list suits you best will mean that you are not paying for the use of Hospitals you will likely never use.
Always use a reputable private medical insurance adviser who is authorised and regulated by the financial conduct authority as they will provide an in depth review and analysis as private medical insurance is a very complex area and using an adviser means you are getting an advised sale and you will be covered under the compensation scheme. It is not any cheaper to go direct to an insurer and you will not have the security of whole of market advice.
There is also a choice of excesses and shared responsibility where you will pay the first part of the claim (the excess is normally paid per person per policy year) but can be per claim and can be the first £100 £200 £500 this is used to reduce the premium for cost containment purpose. There are also specialist polices that can cover your excess for a small premium which means a saving all round.
Kevin Bates is Director of Medic Healthcare, Private Medical & Business Protection Specialists