It’s not just all about the money when choosing the best health quotes. I agree cost is important but choosing a cheap healthcare insurance plan may be a bad move when you discover the condition you are claiming for isn’t covered.
Price of course is key when comparing health quotes but so is the quality and level of service included; so it’s important that you know what you are looking for.
Be clear on what healthcare insurance does
Healthcare Insurance or Private Medical Insurance as it also known is designed to give you fast access to private medical care in the event of shorter term illnesses or injuries. This includes:
- Quick and easy access to leading consultants
- Speedier diagnosis and treatment
- Choice and use of private hospitals and facilities
- Access to treatments and drugs not available on the NHS
It is there to give you the reassurance that should an injury or sudden illness strike, you have access to the right medical support that will get you back on your feet as soon as possible.
Understand what type of healthcare insurance you want
When looking purely at health insurance, there are two main types of healthcare plan:
- Underwritten Health Insurance – likely to offer you greater cover but you need to answer health and lifestyle questions and provide your full medical history when you apply.
- Moratorium Health Insurance – offers a quick application process which only requires limited information and tends to be cheaper but any pre-existing conditions treated in the last few years (usually 5) will be excluded for a set period.
In addition you can also buy Healthcare Cashplans which cover a percentage of your day to day medical bills such as dental, optical or podiatry costs.
Only buy the health cover you need
Healthcare Insurance plans can be tailored to suit your needs so it is important that when you look at health quotes, you look at the options available with each of the plans and choose according to your requirements.
For example some plans will let you add treatments as an out patient, therapies or dental options.
You will also be able to tweak your healthcare insurance cover in order to reduce the price, which is covered in more detail below.
Think about who you are covering
You can buy individual healthcare insurance plans if you are just looking for cover for yourself but family health insurance plans as well as health insurance for couples if you are also thinking about including your family in the cover.
It is worth comparing and considering all options as you may get further discounts for family health insurance compared to individual, as well as free cover for children. As previously mentioned though, be careful to only choose the health cover you need.
Tweak your healthcare to save money
Most healthcare insurance companies will give you the option to change certain aspects of your healthcare plan in order to reduce the price you pay on a monthly basis. This will include things like:
- Increasing the level of excess you pay
- Agreeing to be treated by the NHS if it takes place within a specific number of weeks
- Opt to be treated by a limited number of hospitals
- Agree to pay a proportion of the treatment costs
In addition certain health insurance providers now offer incentives for being healthy which may provide discounts when you come to renewing your health insurance cover, or savings on certain products and leisure facilities.
Don’t compare apples with pears
Some health quotes may look very favourable until you read the cover included and find the excess is sky high. So when you start to compare health insurance quotes, make sure you compare like for like and you start with a level playing field.
You can then think about adding and tweaking aspects of the plan to come up with a healthcare insurance plan that suits your requirements and your budget.
Read the small print
This is crucial when looking at health quotes. Before you buy, always read the terms and conditions. Yes they may be long winded and boring but what is the point in buying health insurance if it doesn’t cover you when you need it most.
Check what is covered but more importantly what is excluded. Health Insurance isn’t typically designed to cover long term illness such as diabetes, asthma or multiple sclerosis. A healthcare insurance plan is there to get you back on your feet as quickly as possible when faced with shorter term illnesses or injuries that can be cured.
And as with any type of insurance plan, always be honest when you apply. If you are shall we say a little economical with the truth, the insurer will find out and may not pay out when you claim so it really isn’t worth it.