The importance of Private Medical Insurance

The importance of Private Medical Insurance?

Protecting and transforming our customer’s health is always our priority. That is why we feel it is so important to make all of our clients past and present aware of the importance of private medical insurance.

We more than likely all know someone who is on the waiting list for NHS treatment, or an operation, or you have experienced first-hand the wait times just to speak to your own GP.

This blog explains the benefits of taking out Private Medical Insurance. (PMI)

As a society we live fast paced and day to day. Often putting work, family and responsibilities above ourselves.

But what if your health was compromised?

But I already have cover in place for my life and serious illness?

Perhaps you have Life cover to protect your loved ones, and critical illness cover to protect yourself and your finances in the event you were seriously unwell.

But what if you took the initiative to protect yourself further?

Imagine you have a health scare, or a serious illness, and found yourself on that NHS waiting list, with weeks of worry ahead of you.

Instead, by protecting yourself further with private healthcare, you have instant access to the fastest and best possible healthcare professionals to aid your recovery.

Wouldn’t you wish you had done this sooner?

So, Is it worth paying for Private Medical Insurance?

There are over 7.2 million people on the NHS waiting list.

Over 362,000 people have been waiting over a year for treatment.

Through PMI, 90% of claimants are seen face-to-face within two working days of asking for treatment and get access to the best treatment, which is often unaffordable for the NHS.

I have outlined below some NHS statistics that really highlight the reality of waiting lists and the need for PMI. *data provided from https://commonslibrary.parliament.uk/research-briefings/cbp-7281/ on 29^thNovember 2023.

· 185.6 million is number of hours lost due to ill health

· 7.3 million people are on the waiting list for treatment

· 362k people have been waiting over a year for treatment

· 18 weeks is the target for the NHS to get operated on and not hit it since Feb 2016

· The NHS aims to offer treatment within 62 days for cancer patients – not too bad in comparison to other waiting times but obviously soul destroying if you were diagnosed with cancer and told that you had to wait up to 2 months for treatment.

So what does Private Medical healthcare cover actually provide?

**Expeditious Access to Health Care**

Perhaps one of the most appealing reasons to opt for private medical insurance is the quick access to medical treatment. Public healthcare systems often face the challenge of long waiting periods, especially for non-emergency surgical procedures. PMI circumvents such waiting periods and ensures that you receive the required treatment without delay, providing essential peace of mind.

**Greater Choice and Control**

When it comes to making decisions about your healthcare, PMI offers you a broad range of choices. You can choose your preferred doctors, specialists, and hospitals. It also allows you to schedule appointments at your convenience, often at much shorter notice than the public system allows.

**Access to Specialised Treatment and Services**

Private medical insurance often provides access to a wide array of specialized treatments and services, including physical therapy, mental health support, and preventive screenings. This can be beneficial because it allows for a holistic approach to health care.

**Protection Against High Medical Costs**

Medical emergencies are unpredictable and can result in massive healthcare bills. PMI provides insulation against such sudden, high costs. It’s essentially a safety net, guarding you against potentially crippling financial burden due to unexpected health issues.

**Privacy and Comfort**

Private insurance often grants you the privilege of private hospital rooms, offering more comfort and privacy than standard wards. This could significantly improve your overall hospital experience, allowing you to recover in a more peaceful and comfortable environment.

**Lifestyle Coverage**

Some PMI policies provide coverage for non-traditional treatments like acupuncture, chiropractic services, or alternative medicines. They may also offer wellness programs and lifestyle benefits, such as gym membership discounts, which can further contribute to maintaining a healthy lifestyle.

**Peace of Mind**

Finally, the peace of mind provided by PMI cannot be understated. The reassurance that healthcare costs and treatments are covered in a time of need is invaluable, allowing you and your family to focus on recovery rather than worry about finances.

We have access to the whole market and we are experts in identifying your needs and recommending the most suitable plan for you. Each provider offers different types of policy, so getting qualified advice is important to ensure you have the correct cover for you.

It is more affordable than most people think.

Real Life story:

https://www.bupa.co.uk/health/health-insurance/member-stories/mike-member-story

Please get in touch today to review your options with our expert advisers.

If you are a medical professional reading this, I am sure you see first hand the pressure the NHS are under, please speak to us today about taking our private medical cover, and we will apply a NHS worker discount to your policy.

If you are considering taking out a new mortgage there are a range mortgages specifically for medical professionals, read more in this blog:

https://mortgageswithclarity.co.uk/mortgages-for-medical-professionals/

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