When people hear the term Private Medical Insurance, they normally think that this is something people outside the United Kingdom need as the NHS offers everyone in the UK a free health service. So why would anyone want to pay extra for private medical care when there is no need? How about avoiding long waiting lists, having fast-track consultations and private treatment in a NHS or private hospital when you have short term- curable problems?
Private medical insurance (otherwise known as PMI) is not essential within the UK and when considering financial products this should not be at the top of your priorities but if you can afford the premiums and would like peace of mind it is definitely worth considering.
So what does PMI cover?
- The amount of private medical cover you receive will depend on which policy you have
- Basic PMI will cover your costs for most tests, surgery and day care surgery.
- Some PMI policies will also cover specialist and consultant treatments but you may still need to pay a small amount for each night that you need to spend in an NHS hospital.
- You might be able to choose a policy which includes mental health, depression and sports injuries but these are not always covered.
What doesn’t it cover?
In most cases, your private medical insurance will not cover any private treatment for:
- Any pre-existing medical conditions that you may have
- Any non-reversible illnesses such e.g. Diabetes, epilepsy and AIDS.
- Standard pregnancy costs
- Organ transplants
- Any injuries that have developed through dangerous sports.
- Non-essential cosmetic surgery.