Health insurance benefits
Health insurance offers many benefits to individuals and businesses, but how you benefit will be unique to your wants and needs, as well as the type of policy you purchase and the provider you choose. While some benefits may be helpful to one individual, they may not be relevant to another, so we aim to educate you on the many possible benefits so that you can make an informed decision before purchasing a policy. Please note that the benefits we’ve listed aren’t exhaustive, and some benefits may only be available through some providers and policy types.
Fast access to health services
Having health insurance may mean you get fast access to diagnosis, treatment and appointments. You may also be able to book your appointments online or through an app, making it easy for you to get an appointment in the first place. To help you understand the waiting times you may experience on the NHS the British Medical Association (BMA) have provided the following statistics based on NHS waiting times as of October 2022:
- 7.21 million patients are waiting to be treated.
- 2.91 million patients have been waiting over 18 weeks to receive treatment.
- 410,983 patients have been waiting over a year for treatment.
- The median waiting time for treatment is 13.9 weeks.
Access private health facilities
When claiming on your policy, you may have access to private health facilities that your provider, or another private health company manage. The facilities you’ll have access to will depend on what’s covered in your policy and the reason you’re visiting the facility in the first place. Some examples include:
- Hospitals
- Clinics
- Rooms for stays
- Rooms for visitors
- Health practices
- Surgery rooms
Additional cover options
Your health insurance policy doesn’t just have to cover you for acute medical conditions. You may have the option of including additional coverage for health matters that fall outside of standard policies. This may benefit you by having a single policy that offers a broader range of coverage, rather than several individual policies you’ll have to manage. Some examples of the additional cover options that may be available include:
- Mental health
- Optical
- Dental
- Physiotherapy
- Osteopathy
- Acupuncture
- Chiropractic
- Pregnancy
- Travel
- Extended hospital lists
Short term contracts
Private medical insurance policies are annually renewable, so the contracts are in place for one year and then you are invited to renew. Unlike some other insurances where you may have to commit to over a longer period of time, you may have more opportunities to review your need for health insurance on a regular basis.
Access additional drugs and treatments
Some policies and providers may cover you for innovative drugs and treatments, such as those for cancer. These may be new and innovative drugs and treatments, such as those for cancer. Having health insurance in place before a medical condition arises may help you to access a broader range of treatments that help towards your recovery.
Peace of mind
Periods of ill health may lead to other problems that aren’t directly related to the condition itself, such as anxiety. Private medical insurance may offer you peace of mind knowing that it may offer speedy access to diagnosis and treatment. If you include cover for a partner or family member, it may also alleviate any stressors relating to worry over accessing fast treatment for your loved ones.
Various policy types
There are many types of health insurance policies available, with some being more suited towards certain individuals, group sizes or businesses. There is no one policy fits all solution, which means that you may benefit from a policy geared towards your specific needs. Some examples of the types of policies available include:
- Couples health insurance
- Family health insurance
- Children’s health insurance
- International health insurance
- Over 50s health insurance
- Small business health insurance
- Corporate health insurance
- Company leavers health insurance
- Self-employed health insurance
Flexible policy options
When choosing a policy, you may have the option of including or excluding cover. Having this flexibility may help you purchase a policy that covers your wants and needs, rather than a generic policy that doesn’t offer you as much value. What these options are will depend on who your provider is, with some examples being:
- Hospital lists
- Cover limits
- Additional cover options
- Excess
- No claims discount inclusion
- Level of cancer cover
- Underwriting terms
Members benefits
Depending on who your provider is, you may get access to additional benefits that aren’t directly related to your health services. What these are will vary and may require you to purchase certain policy types, with some examples being:
- Discounts
- Rewards programs
- Free tech accessories
- Access to health apps
- Referral schemes
- No claims discount
Telemedicine and digital services
Having private medical insurance may offer you the benefit of accessing telemedicine and digital health services. They aim to offer you more flexibility and options over where and how you receive health support and treatments. The types of services that may be available to you include:
- Virtual GPs
- Digital consultations
- Health apps
- Community groups
- Helplines with medical professionals
- SMS communications
To learn more, visit our dedicated blog What is telemedicine?
Appointment and treatment flexibility
Having access to private health services through medical insurance may offer you greater flexibility over where and when you receive your treatments. When booking appointments or services, you may have the option to choose between several dates, locations and the medical professional you’re meeting. These options will depend on your policy and the availability of private services, but compared to public health services, you may find it easier to work your health needs around your schedule rather than the other way around.
Would health insurance benefit you?
Health insurance is a personal decision, and whether it would benefit you depends on your health needs and personal circumstance.
If you’re ready to take the next steps and explore your policy options, we offer a free comparison service where we’ll aim to find you the right policy for your needs. If there are any benefits listed that are important to you, or any that aren’t, just let us know, and we’ll consider this when reviewing your options. We work independently from providers, which means that we aren’t biased towards any particular one, and ultimately, we work to find the most suitable and competitively priced policy for you. To get started, complete the form below, and a member of our team will be in touch.
