Do I need medical insurance?
Unlike the US and many other countries, the NHS in the UK provides free and universal treatment at the point of need. Here, Private Medical Insurance is seen as more of a luxury than a necessity. Whether or not you need private healthcare insurance depends on how satisfied you are with the level of treatment and care the NHS provides.
While the NHS is, on the whole, a good system, it is nowhere near perfect and has many failings. The most apparent of these to most people are the huge waiting lists that patients wait on for operations and treatment. It’s not uncommon for patients to suffer in pain for many months while waiting for essential operations on the NHS. Having Private Medical Insurance allows the patient to avoid all this, and receive treatment in a more timely fashion. In most cases this will allow you to avoid weeks or months of pain and discomfort, allowing you to return to good health much quicker than those who have to rely on NHS treatment. In some cases, such as cancer treatment, being treated quickly may give you a much better chance of survival.
Even if you are lucky enough to never have to make a claim, the peace of mind that Private Medical Insurance offers can be an attractive benefit. There is none of the uncertainty that you will have to suffer through with NHS treatment. If you’re a worrier, then you might find the peace of mind worth the premiums alone, even if you never have to claim.
In addition to being treated more quickly, you can also enjoy treatment of a higher standard in private clinics and hospitals. A private hospital is more likely to have the latest medical equipment, which could make a difference to the effectiveness of your treatment. While the competency of NHS doctors is not in dispute, many world-class specialists are attracted to the higher salaries paid by private healthcare providers. Staff in private facilities also have a much smaller workload, allowing them to spend more time and energy on caring for each patient.
As well as more advanced equipment; private hospitals also have more comfortable facilities for patients. You will be given your own private room with en suite facilities, and all the comforts of home. Private hospitals provide comfortable beds, high quality linen, and delicious food. You may even find your hospital provides wi-fi Internet access, enabling you to catch up on work from your hospital bed.
There are a few disadvantages to the private system too. It’s important to note that a private health insurance policy does not cover every eventuality; certain conditions are exempt from cover. You are also unlikely to receive cover for pre-existing conditions, although some conditions may be covered after a certain amount of time has passed after taking out the policy.
It’s also important to note that the cost of Private Medical Insurance increases with age. The older you are, the more likely you are to claim, and so the more you have to pay.
