How lucky we are to have the NHS! At the start of the Covid-19 outbreak, we stood on our doorsteps every Thursday at 8pm to clap our hands and bang saucepans together in recognition of the great work done by frontline staff.
And now, here we are in November. Covid cases have been rising, we’re entering the winter flu season and we’re back in lockdown.
Unfortunately, NHS backlogs are reported again. This means that ‘going private’ might be your best option.
Thinking of going private?
If you need medical care, the main thing you want is fast, effective treatment.
A few months ago, private hospitals were requisitioned to help with demand. Since then, we have a new national network of Nightingale Hospitals to cover a second Covid peak.
This time, private hospitals are less likely to be called upon, meaning they will have more capacity to provide treatment.
And that’s where private healthcare insurance comes in. You can get:
- Virtual access to your GP for a referral
- Virtual consultation with a specialist
- Cancer treatment at home (so you don’t risk interrupted, delayed, or cancelled NHS care)
- In-patient hospital treatment (without the long NHS waiting list)
So far, so good, but…
Some of our older clients have told us they’re getting medical insurance quotes at extortionate rates. On renewal, many are under the misapprehension that you can’t move a medical insurance policy from one provider to another. They feel stuck, either unable or unwilling to pay disgusting fees.
The truth is:
- A specialist researcher might be able to find you a medical insurance policy that meets your needs at a lower premium
- You may be able to move your policy to a new provider, depending on the number of claims you’ve made
It’s worth looking at each year because policies change. Insurance companies add and remove cover all the time. You can do the research yourself, but if you’re inexperienced or time-poor, it’s worth having a conversation with a decent insurance broker who understands the policy conditions that are important to you.
What this means to you
Our preferred broker, Samuel, will advise you on the small print and provide a quote that includes the medical cover you want.
We’ve introduced a number of Plan 100 clients to him, and know his advice gives them peace of mind. It also saves them money. One client recently saved £2,000!
For more about that story, please see our recent day-in-the-life article: What does a financial adviser do
For more information, just give us a call on 01435 863787.