Healthcare Myths & Tips

Private Medical Insurance (PMI) is intended to treat acute medical conditions. Most providers can now replicate the full care pathway from an initial GP consultation all the way to treatment, essentially, you may not need to call upon the NHS at all.

PMI is o en provided by employers, but as a consequence of Covid-19, we are seeing many more individuals purchasing it for the first time and companies are expanding existing policies. Both individuals and employers are doing this with the aim of maximising their ability to have treatment with as little delay as possible and guaranteeing access to treatments not offered by the NHS.

Below are some of the more frequent misconceptions about this subject and tips of how to get the best value from a private healthcare policy.

1.Myth – Historical conditions will not be covered under a new policy. This is a common assumption, but most providers will cover historical ailments, if you have been symptom and treatment free for the last 5 years.

2. Myth – Making a claim means that you are “locked-in” to your current provider. Again this is untrue. Pre-existing conditions will remain covered, if you transfer to another provider, subject to being able to meet their medical transfer declaration. 3. Myth – It is o en believed that self-funding treatment is cheaper. This is not always the case. What becomes apparent as we get older is that the cost of self-funding increases considerably because of the frequency and complexity of medical treatment that is required.

If you are now considering PMI, here are our three top tips on finding the best option for you.

Tip 1 – Having separate policies for a couple will allow you to independently obtain the best premiums from the market each year following a market review.

Tip 2 – Even a basic policy from most providers will cover all in and day-patient appointments, scans (CT/PET/MRI) and cancer care in full. This type of cover will allow members to circumvent the NHS surgical waiting times and to access some cancer treatments that are not available on the NHS.

Tip 3 – Always ensure that you obtain independent specialist advice because the healthcare insurance market is complicated and many people have pre conceived ideas about what is and is not covered. A private medical insurance specialist will be able to offer a bespoke policy that suits your specific needs. As with all aspects of financial planning it is always sensible to explore all options before disregarding a possible solution. With the importance of health being greater now than at any point in the past, medical insurance represents a cost effective way to guarantee the best care possible.

www.ihcs.co.uk Telephone: 01274 693020

Independent Health Care Solutions (IHCS) is a specialist independent intermediary dedicated to making their clients better off. IHCS was established with one objective – to give customers a better deal. We aim to offer a wide range of great value healthcare products that are easy to understand and perform as you would expect them to, with no hidden surprises.