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Private Health Care Insurance in the UK
The most popular and common type of health insurance is private medical insurance. This type of insurance provides access to private medical treatment in case of illness, enabling policy holders to avoid NHS queues. It is available in individual, couple or family versions and covers consultations and operations, with patients having a private room with ensuite facilities and TV. Various options are available and excess levels can be set to reduce costs.
Other types of health insurance are also provided, including a health trust fund that is a different means of funding private medical insurance. It takes advantage of the UK's trust fund laws to enable low cost cover to be provided. Access to medical facilities is available in the same way but there are no excess payments, premiums don't increase automatically and higher charges don't apply due to age.
Ex-pat insurance provides health cover for those working abroad for extended periods. Different budget levels are available and premiums are normally paid annually in advance. Travel insurance includes an element of health cover. In fact, given the high cost of medical treatment abroad and the amount charged for an air ambulance to get ill or injured people home, it is probably the most significant part of any travel policy.
Critical illness cover is a form of health insurance, providing a tax free lump sum for a policy holder diagnosed with an illness that is covered by the policy. Although the payment is not normally used for medical treatment, it can be put to any required use such as clearing debts or taking a holiday.
Income protection cover is often taken out by self-employed people who have no company to pay them sick pay. It provides an income, in addition to the small amount given by the state, if the policy holder is incapacitated. Premiums depend on the type of work, amount of benefit payable and how quickly it is paid.
A common form of health insurance is a cash plan that is often funded through deductions from an employee's wage. These plans pay cash amounts towards medical, dental and optical expenses.
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