Alan Waddington of Staysure says, “There are many misconceptions surrounding private medical insurance the biggest of which is that it is only appropriate for the wealthy. There are options suitable for every budget.”
Here are the top 6 myths:
1. All policies are the same
All providers have areas of differences where their policies include better cover or additional benefits.
2. Too old or too young for cover
A number of insurers now offer standalone private medical insurance for children. Many insurers have no upper age limit for starting a new policy and will continue to insure you for as long as you require.
3. Where I live will not make a difference
Some policies will automatically cover all private hospitals, including central London where costs are much higher. If you live hundreds of miles away you are unlikely to ever use those hospitals so this is unnecessarily inflating your premium. There are many options available: you can include hospitals within a certain radius of where you live or to just include the main hospital networks such as Spire or Nuffield. You still have the peace of mind of access to the best facilities and treatment in your area whilst keeping your costs down.
4. Cancer is not covered
Plans can be tailored to include full cancer cover or just provide cover for surgery or advanced cancer drugs or a combination regardless of what other treatments have been included.
5. Pre-existing conditions will exclude me
Many insurers will offer insurance terms if you have a pre-existing condition as long as the medication is working and the condition is under control.
6. It is only for major costs
Benefits are clear when it comes to covering procedures costing tens of thousands of pounds, small procedures and outpatient treatments push up the cost of going private. The good news is that if you choose the right plan, the costs of private consultations, scans and diagnostics, physiotherapy and even alternative therapies can be covered so you can choose private hospitals or clinics for all types of treatment.
Private medical insurance news: 23 June 2011