Tips to keep your healthcare premiums down

Private medical insurance brings peace of mind and several benefits you simply can’t put a price on – but it can be expensive. Here’s our quick guide to ways in which you can bring the cost of your private healthcare cover down.

  • You can choose to pay proportionately more towards medical treatments by paying an excess. This can be any amount from £50 to £5,000, depending on the insurer.
  • There are medical insurance policies where you can limit certain services to keep premiums down such as outpatient cover and consultations.
  • Use your private medical insurance only if you are unable to be treated by the NHS. If your doctor or specialist tells you that you have to wait more than 6 weeks for NHS treatment, your insurer will pay for you to be seen more quickly, and privately.
  • Agreeing to a cap on the total pay outs received under the policy
  • Paying for your health care plan in one lump sum instead of monthly will keep the premium down.
  • Agreeing to a restricted choice of hospitals.  For example, being treated in top London facilities, will increase the price of the premium.
  • Are you self employed? If you are, and you know other self employed people, you can choose to take out a group private medical insurance policy.
  • A no-claims health care policy will help to keep the yearly increase down.

If you would like any more help or advice on how to keep your private medical premiums down, call our advisers today on 0800 083 0706.