Six Types of Private Medical Insurance

Although the National Health Service (NHS) provides medical care for all UK residents, there is often a significant wait with certain limitations when treatment is ultimately rendered. Additionally, many patients prefer the individualized care offered in a private hospital as opposed to the generic treatment given at a public hospital. For these reasons, an increasing number of people are choosing private medical insurance to ensure all their health issues are covered when they need treatment.

Consider that the Imperial Cancer Research Fund found that 24 percent of the deaths in the UK were caused by cancer. Having private medical insurance policy can help a patient get the care of specialists and holistic practitioners that may not be covered by NHS, as well as receive treatment in the quieter atmosphere of a private hospital. Patients can customize their health insurance coverage to prevent possible gaps and there are six basic types of medical insurance patients can choose from.

Package Medical Insurance Plans

A package medical insurance plan provides a pre-determined grouping of benefits to keep the costs down for insurers, who decide what is included in the package. In this situation, the patients has no choice of what is covered or the benefits they will receive. Because there are no standard packages, it is important for the patient to fully understand the level of coverage provided in a package health insurance plan to determine if the plan is right for their needs.

Certain policies will provide full cover with no limits while other establish annual limits on what is paid during the year. Other limitations may include which hospitals can be used, the days the cover applies, limits on fees, limits on amount per claim and limits on procedures. Most health insurance packages include basic medical costs such as hospital fees, consultants fees, specialists fees, chemotherapy, radiotherapy, physiotherapy, diagnostic tests, scans and psychiatric treatment but patients should always carefully review the policy to know what is covered. Optional coverage may include nursing at home, dental surgery, health screening, health club discounts, dental and critical illness coverage.

Choice of Cover Medical Insurance Plans

A choice of cover medical insurance plan allows patients to customize the plan to cover exactly what they need. As a result, patients can save significantly by not paying for benefits they don't want. Because there are countless variables when it comes to illness and family needs, a choice of cover health insurance plan lets the patient pick and choose the coverage they want.

Choice of cover insurance plans may also impose limits such as which hospitals are covered, limits per claim and limits on medical fees and procedures.

Limited Medical Insurance Plans

Limited medical insurance plans are ideal for people on a budget who still want to ensure they can cover basic costs of private health care. Other patients may feel that NHS can provide adequate care for everyday ailments and want limited health insurance to cover certain long term illnesses. Certain patients prefer to eliminate services they won't use, making a limit health insurance plan more budget-conscious.

There are numerous limited health insurance plans to choose from with no standard plan available. Patients should remember that the private coverage offered is limited, which means certain extras may be excluded and the customer may have to pay a significant contribution toward private treatment.

Shared Risk Medical Insurance Plans

Shared risk medical insurance plans are an affordable option for people who feel they do not need a private medical insurance plan that covers everything. With shared responsibility cover, the patient pays a percentage of treatment costs themselves, ranging from 25 percent to 75 percent of the total costs and usually an annual limit is set for what the patient is expected to pay in one year. The higher percentage paid by the patients, the lower the premium is for shared risk health insurance plans.

Over 50 and Elderly Medical Insurance Plans

Over 50 and elderly medical insurance plans cater to older patients and their unique needs and medical problems. Because many health conditions associated with old age do not require immediate treatment, many elderly folks may experience lengthy waits for treatment from NHS with limited mobility and pain in the meantime. Having private health insurance enables older people to get the care they want when they need it. Certain companies offer special packages for elderly patients while others do not base their premiums on age, making cover more affordable. Seniors can also consider limited cover and check with their former employer or union regarding private health insurance plan packages.

Special Cover Medical Insurance Plans

Special cover health insurance plans were developed to meet certain specific needs patients may have. Special health insurance include insurance for children, major medical plans, insurance for people in HM forces, convalescence plans and hospital treatment plans.

These six different types of private medical insurance give patients unlimited options for private cover to ensure complete, immediate care in the event of an illness or accident.