Private Health Insurance

Private health insurance covers the cost of private medical treatment for certain conditions that start after the policy has been taken out. Though we’re very lucky to have the NHS, many people choose to take out private health insurance for added peace of mind.

How does private health insurance work?

  1. Choose a policy: Opt for a specific level of coverage based on your budget and healthcare needs.
  2. Pay monthly premiums: The cost depends on your age, health, location, and chosen coverage.
  3. Seek private treatment: When needed, consult a covered healthcare professional or hospital within your network.
  4. Pay any excess: Most policies have an excess amount you pay per claim before the insurance kicks in.
  5. Enjoy private care: Receive your chosen treatment without lengthy NHS waiting times.

What does private health insurance cover?

When taking out your private health insurance policy, you can decide the types of activity that will be covered. The most common examples include:

  • The cost of hospital admission
  • Diagnostic tests such as MRI and CT scans
  • Consultancy fees
  • Surgery
  • Hospital accommodation
  • Nursing care
  • Some drugs that are not available on the NHS, such as cancer medication

In addition, your private health insurance could also cover outpatient consultations, mental health treatments, physiotherapy and chiropody. The more your policy covers, the higher your monthly premiums will be.

Private health insurance as an employee benefit: Explained

By offering PHI as an employee benefit, you can invest in your workforce’s well-being, potentially improve their health and productivity, and gain a competitive edge in the job market.

Offering Private Health Insurance (PHI) as an employee benefit can be a powerful tool for attracting and retaining talent, while promoting employee well-being and productivity. Here’s how it works:
For Employees:

  • Faster access to healthcare: Skip long waiting lists and get quicker referrals to specialists, consultants, and diagnostic tests. This can offer peace of mind and potentially lead to quicker diagnoses and treatment.
  • Improved treatment options: Choose from a wider range of treatment options, including private hospitals and consultant-led care, potentially leading to better health outcomes.
  • Reduced stress and anxiety: Knowing they have access to timely healthcare can alleviate stress and anxiety for employees, improving their overall well-being.

If you’d like to find out more about private health insurance, get in touch with our dedicated financial advisers today.

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Financial advisory in Worcestershire and Kent

Based in Droitwich Spa, we’ve proudly supported clients of all ages since 2004. The opening of our second office in Sevenoaks allowed us to extend our bespoke financial services even further, making SN Financial a trusted financial adviser for individuals, couples, families and businesses across Worcestershire, Kent and the rest of the UK.

Droitwich Office

5 Saltway, Droitwich, Worcestershire, WR9 8LB
01905 779697

Sevenoaks Office

46 Holly Bush Lane, Sevenoaks, Kent, TN13 3TL
01732 926255