| When most people come upon the words ‘medical health insurance’ they associate it with Latin mumbo jumbo and confusing jargon. It is necessary to understand the finer points of medical health insurance to make the best decision when choosing a plan.
Coverage
Like other types of insurances, medical health insurance provides coverage in many areas. Some of these are :
- Minor and major surgery
- Consultant and specialist fees
- Short and long hospital stays
- Medications
Type of Plans
Medical Health insurance in the UK comprises of two types of plans: standard and comprehensive. The insurance companies offer these plans under different names such as super saver, gold, primer, etc. Regardless of the name, these plans are either standard or comprehensive. Read the plans thoroughly to find out exactly what type is actually being offered.
Standard Plan - In this health insurance plan, the patient is offered coverage for basic hospital treatments, emergency care, in-patient and day care sessions. Some companies offer complete coverage for diagnostic and laboratory tests, physiotherapy sessions, home nursing and online health and well being services. Standard plans are definitely more affordable and preferred by the general population.
Comprehensive Plan - This type of health insurance plan is an extension of the standard plan. It includes wider coverage for treatments such as outpatient, dental related, maternity, domestic and international travel and the like. Some companies include critical illness coverage up to a certain limit, psychiatric care, maternal complications and alternative therapies. This is an expensive option as compared to the standard plan. If you are able to afford it, you should buy a comprehensive health insurance plan as it covers all kinds of treatments.
Even though medical health insurance is not required by law in the UK, it is best to have a medical insurance policy. Hospitals and clinics no longer administer care to patients who do not have a medical health insurance policy on them so you have no choice but to buy one. If finances are an issue, we recommend that you choose a standard plan as it is cost-effective and covers basic treatments.
Premium Payments and Discounts
Increasing inflation rates have made us hesitant when it comes to purchasing a health insurance policy and escalating premium prices have not helped the situation. It is not completely hopeless though, as medical health insurers offer several flexible payment options and discount packages. If you are unable to pay premiums on a monthly basis, there are plans where you can pay them every four months, six months or once a year. It all depends on what options your health insurance company has to offer. Discounts offered are usually in the form of no claims discounts, cash benefits (up to certain amounts for NHS inpatient treatments), permanent disability coverage and critical illness coverage (up to certain limits).
Switching Your Medical Health Insurer
You always have the option of switching your medical health insurance companies. There are several reasons for doing so. If you are dissatisfied with the service quality of your current insurer, if you want an inexpensive health insurer that offers you good discounts, or you had a bad experience when it came to filing a claim you may choose to change companies. Whatever the reason, you can always switch your medical health insurer to get the best possible coverage options.
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