One of the top searches we see on Google for clients looking to buy Private Health Insurance is ‘Best Health Insurance in the UK’.
Unfortunately for the tens of thousands of people who are searching in the UK… there is not an answer.
Private Health Insurance should never be a one size fits all approach as every insurer has its own unique terms and conditions which can impact every client differently.
Below are the top five things you should consider at a minimum when reviewing a new or existing personal health insurance policy.
Every health insurer has its own unique hospital list which often varies across the different budget to comprehensive policies they offer.
When considering private health insurance, you must always ask to see the hospital list for the insurance company.
You are not going to be happy after spending £100’s or £1000’s a year for your policy and when it comes to claim you have to travel 40+ miles to the nearest hospital for treatment.
It is also worth highlighting for clients based in London that most insurers will exclude hospitals in certain areas (Harley Street etc.) on their standard list and you will have to be an extra fee from inception to have these covered.
When recommending an insurer, we will always consider their previous claims history and how easy they are to deal with when it comes to making a claim.
Hooray Health & Protection deal only with insurers who make the process simple and come back to us as quick as possible.
At claim stage we do not want to be waiting weeks for a decision or having to argue whether a claim valid or not.
Pre-Existing Health Conditions
UK based medical insurance companies will exclude any pre-existing conditions from the last five years and to be covered again require you going two years symptom/treatment free.
If it is a minor condition you can ask an insurer to review this on a fully medical underwritten basis, but they will likely include an additional price and it can be excluded for life.
If you have any pre existing health conditions you should always seek financial advice from a health insurance expert before proceeding as they will be able to discuss all options with you.
Choosing the right policy can be especially hard when trying to stick your budget for cover.
It might seem tempting to reduce the cover to save cost, but this can be heart-breaking if it is something you need to claim on in the future.
Instead of going to one insurer- appoint an insurance broker to review the market for you.
We recommend Hooray Health & Protection as they charge no fee and are lovely people 😊
Make sure you review all aspects of the health insurance providers pricing and remember if a price seems too good to be true…it usually is.
Always find out if they have a no claims bonus or offer any incentives on the premium for you keeping fit and healthy.
If a policy is coming in significantly cheaper then others you need to establish why this is and if it is impacting the level cover you have received.
Hooray Health & Protection do not charge any fee for reviewing your new or existing health insurance policy as we are paid commission by the insurer for placing it with them. So, the price you receive from us will be the same you receive directly from the insurance company.