With an under-funded and struggling NHS, many people are now are taking out Private Medical Insurance (PMI) and opting for private healthcare, which typically provides better facilities and shorter waiting times to see specialists, and for routine operations. Private Medical Insurance policies cover some or all of the costs of private diagnosis and treatment.

There are many advantages to having PMI:

• Faster diagnosis and treatment
  Although waiting times on the NHS have improved to a maximum of 18 weeks between referral and treatment, you won’t have to wait this long for private treatment
• Choice
  You can choose your consultant and where you want to be treated, with the proviso that some policies restrict treatment to set lists of hospitals
• Private rooms
  You don’t have to worry about being on a mixed-gender ward and, depending on your policy, you may have an en-suite bathroom
• Unrestricted visiting hours

     Your family can visit you at a time that suits.

• Personal care
  You won’t be kept waiting for hours to see your consultant and you will have more time to discuss your symptoms or treatment
• Continuity of care
  You are likely to be seen by the same consultant throughout your treatment
• Specialist claim team
  Your insurer may have a team that deals specifically with a certain type of condition, such as cancer, who can help advise you

There are also certain drawbacks that you should be aware of:

• Not all conditions are covered
  It depends on your policy and any previous medical conditions, but most policies only cover short-term illness or injury
• Some appointments and treatments are not covered
  Once you’ve got a referral from your GP, you need to call your insurance company to check they will cover the costs before you see the consultant or arrange any treatment
• You get what you pay for
  The more cover you want, the higher your premium will be

There are a wide range of PMI policies available and it can be difficult to know which best suits you. Advisers at insurance companies can only discuss their own policies and can’t give you impartial advice on how it compares with others.

As an independent financial adviser (IFA), at Apex CB Financial Planning we can help you to understand the differences between all of the policies available and to help you to find Private Medical Insurance that best suits your needs.

To find out more about Private Medical Insurance, call 01202 622223 or contact us using our online enquiry form.