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Medical care costs more than people realise

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New research from Standard Life Healthcare shows that while two in three people would consider paying for their own treatment rather than wait for the NHS, most of them have the wrong idea about how much that treatment will actually cost.

 

The 8th Standard Life Attitudes to Healthcare survey reveals that 15% of adults who would pay for private medical care rather than wait would pay as much as £10,000; 40% would pay £1,000, 26% £2,500 and 20% £5,000 from their own funds.

 

But the research also shows that only one in three know that a coronary artery bypass would cost about £14,500. Another one in three say it would be just £10,000 and one in four say it would only be £8,500. Nearly one in ten think it would be only £5,000. Similarly, fewer than one in four know that a knee replacement would cost as much as £9,500. A third say it would cost £7,500, 29% say £5,000 and 16% think it would only be £3,500.

 

Liam Kennedy of Standard Life Healthcare says, “This underlines the need for people to be more aware of the true cost of healthcare, whether they are considering self-paying, or looking at private medical insurance. Medical costs are dearer than most people imagine and if they don’t want to wait for NHS care, or can’t, they might get a nasty shock.”

 

Other results from the survey:

  • Eight in ten say that being treated quickly is an important benefit of PMI

  • Three in four say that being able to recuperate in clean and comfortable surroundings is an important benefit of PMI

  • More than one in two say that being offered a local private hospital is an important benefit of PMI

   

Private medical insurance: News update: January 2009

 

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