Self employed health insurancehealth insurance for self employed

If you are self employed or run your own business then there is a good chance you won’t receive sick pay, so can’t afford to take time off due to illness; which is where self employed health insurance could prove invaluable.

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What is self employed health insurance?

Private health insurance gives you control over how, where, when and by whom you are treated in the event of a sudden illness or injury. With quick access to consultants, specialists and medical treatment, self employed insurance helps you avoid lengthy NHS queues, getting you back on your feet and back to work sooner.

In addition to being diagnosed and receiving treatment sooner, private healthcare also gives you access to top specialists and consultants, private hospitals with ensuite rooms and better facilities; no restriction on visiting times for family and friends and the use of treatment and drugs not readily available on the NHS.

Of course private medical insurance can benefit all individuals but there are added bonuses that could specifically appeal to the self employed:

  • Some healthcare providers have a doctor on hand that you can speak to over the phone or via video meaning you don’t need to take time off work to get a GP’s referral.
  • Appointments are arranged at a time and place to suit you, working around your business hours.
  • The whole process from initial consultation to treatment is speeded up meaning you take less time off work, therefore reducing the damage to your income and work load.
  • Some plans offer discounts for gym membership helping you stay fit and healthy.
  • You can get medical insurance for self employed people that includes some international medical insurance cover which may be useful if you travel with work.

Basically self employed health insurance helps you manage your illness or injury so it has the least impact on your business possible.

Can I switch health insurance providers?

How does medical insurance for self employed people work?

Choosing the best health insurance for self employed individuals depends on the insurance company and personal situation and requirements.

In addition to individual and family health insurance plans, some providers also offer specific self employed medical insurance policies or private healthcare for small businesses.

Others like WPA for example offer discounts on health care plans for self employed people and in some instances, this also extends to their families.

So with WPA, self employed customers receive a 20% discount that is extended to family health insurance too.

Health insurance options for self employed people are at the end of the day similar to any private healthcare plan. You choose from the following 3 core elements than add additional services as required:

  • In-patient cover
  • Day-patient cover
  • Out-patient cover

The majority of plans offer inpatient care but you may need to upgrade to a slightly more comprehensive health insurance plan if you also want day and out-patient support.

How much does self employed insurance cost?

Again the cost of healthcare for the self employed will depend on the level of cover you choose, your age and your health if you choose a medically underwritten rather than a moratorium plan.

Once you have decided on the cover you require, you can tweak your plan to reduce your monthly payments by:

  • Paying a higher excess which is the amount you are happy to pay towards a health insurance claim   
  • Reducing the number of hospitals you are happy to be treated by
  • Agreeing for the NHS to treat you if it can take place within 6 weeks
  • Paying money towards your treatment

To ensure you choose the best self employed insurance in terms of price and cover, compare quotes or get the experts to do it for you by clicking on the ‘get a quote’ button below.

Our advice

Our advice is to always compare the market and speak to an adviser who will find the best deal to suit you

Our service through First Choice Health & Protection is free to use

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Updated 2nd April 2020 by Ashley Shepherd

Ashley is the founder and managing director at Over50choices. With over 30 years’ experience in financial services, he has held senior roles in building societies, banks and insurance companies.

Ashley Shepherd

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