Health insurance... Worth it, or...
Discussion
...Loophole-ridden waste of money?
I'm starting to consider this seriously now, what with the rising tide of "NHS dooooom!" stories and personal experiences of friends waiting ages for surgery, etc. I've currently got a couple of unrelated insurances which I plan to cancel in order to fund this.
I have a quote of £35/month (Including 25pc first year discount) for Western Provident Association which is less than half the premium the online BUPA quote came up with... Key features:
"Shared responsibility" of £250/year. You pay 25pc of all claims until you hit £250 in a calendar year
£500 Physio/similar therapy cover
£200 Dental treatment cover, £200 optical treatment cover
And then obviously cover for surgery, cancer cover, etc, although they will not cover ongoing "Chronic" consitions like diabetes, etc. They also cover non-NHS cancer therapies.
Obviously the dental and optical benefits are useful- This will include £75 of my annual dental checkup- and also will cover new glasses, etc- Which I tend to spend quite a lot on!
Sound like a reasonable deal? What options do you have? No health cover available through work sadly!
I'm starting to consider this seriously now, what with the rising tide of "NHS dooooom!" stories and personal experiences of friends waiting ages for surgery, etc. I've currently got a couple of unrelated insurances which I plan to cancel in order to fund this.
I have a quote of £35/month (Including 25pc first year discount) for Western Provident Association which is less than half the premium the online BUPA quote came up with... Key features:
"Shared responsibility" of £250/year. You pay 25pc of all claims until you hit £250 in a calendar year
£500 Physio/similar therapy cover
£200 Dental treatment cover, £200 optical treatment cover
And then obviously cover for surgery, cancer cover, etc, although they will not cover ongoing "Chronic" consitions like diabetes, etc. They also cover non-NHS cancer therapies.
Obviously the dental and optical benefits are useful- This will include £75 of my annual dental checkup- and also will cover new glasses, etc- Which I tend to spend quite a lot on!
Sound like a reasonable deal? What options do you have? No health cover available through work sadly!
The £200 cover for dental/optical, is that the excess as per the previous line, or is it the total (annual?) cover they are offering?
If it's the cover they are offering, based on my recent trips to the dentist, assuming you are working, £200 may not even cover the cost (what you pay,) for treatment on the NHS.
From what my dentist told me, they can charge NHS patients a maximum of ~£220 for work diagnosed at once.
For example; Have check-up, 3 fillings needed, 4 visits - Total cost to patient is limited to £220.
If different issues are subsequently diagnosed you could be charged ~£220 for work relating to each diagnosis.
If you have private treatment, £200 may cover the check up and 1 filling. Anything else you'll be paying for and it's not cheap.
If it's the cover they are offering, based on my recent trips to the dentist, assuming you are working, £200 may not even cover the cost (what you pay,) for treatment on the NHS.
From what my dentist told me, they can charge NHS patients a maximum of ~£220 for work diagnosed at once.
For example; Have check-up, 3 fillings needed, 4 visits - Total cost to patient is limited to £220.
If different issues are subsequently diagnosed you could be charged ~£220 for work relating to each diagnosis.
If you have private treatment, £200 may cover the check up and 1 filling. Anything else you'll be paying for and it's not cheap.
Ignore the little bits like dental and eye stuff - that's where they make a profit on you.
What health insurance is very handy for is jumping queues for elective surgeries, and for getting scans and whatnot. That's especially useful if you are unlucky enough to get cancer where being able to start treatment early can have a huge benefit.
What health insurance is very handy for is jumping queues for elective surgeries, and for getting scans and whatnot. That's especially useful if you are unlucky enough to get cancer where being able to start treatment early can have a huge benefit.
Ok, that's interesting.
The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
I've been paying out on BUPA cover for over twenty years and have come close to cancelling several times. Until recently the +£20k I've so far shelled out looked - like all insurance if you don't use it - a complete waste. Now, having been diagnosed with advanced Prostate Cancer, I'm SO glad I've got it. No queues and treatment by who I choose, when and where I choose. Bill for MRI scan alone at top facility in UK was nearly £1k, Biopsies (Transperineal) much more than that and I hate to thing what coming surgery - using latest da Vinci machine will cost! Whilst no compensation for being ill, no queues, instant attention, comfortable surroundings/private room etc., do make a big difference at a difficult time.
Whatever it ends up costing you DO IT matey.
Whatever it ends up costing you DO IT matey.
Pugsey said:
I've been paying out on BUPA cover for over twenty years and have come close to cancelling several times. Until recently the +£20k I've so far shelled out looked - like all insurance if you don't use it - a complete waste. Now, having been diagnosed with advanced Prostate Cancer, I'm SO glad I've got it. No queues and treatment by who I choose, when and where I choose. Bill for MRI scan alone at top facility in UK was nearly £1k, Biopsies (Transperineal) much more than that and I hate to thing what coming surgery - using latest da Vinci machine will cost! Whilst no compensation for being ill, no queues, instant attention, comfortable surroundings/private room etc., do make a big difference at a difficult time.
Whatever it ends up costing you DO IT matey.
And how does that treatment compaire with NHS treatment? I work for the NHS and have seen some amazing ops undertaken with fantasic outcomes, and all FREE of course (at point of use).Whatever it ends up costing you DO IT matey.
Also, if you'd saved your £20k, that would buy a lot of private medical care.
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
JumboBeef said:
Pugsey said:
I've been paying out on BUPA cover for over twenty years and have come close to cancelling several times. Until recently the +£20k I've so far shelled out looked - like all insurance if you don't use it - a complete waste. Now, having been diagnosed with advanced Prostate Cancer, I'm SO glad I've got it. No queues and treatment by who I choose, when and where I choose. Bill for MRI scan alone at top facility in UK was nearly £1k, Biopsies (Transperineal) much more than that and I hate to thing what coming surgery - using latest da Vinci machine will cost! Whilst no compensation for being ill, no queues, instant attention, comfortable surroundings/private room etc., do make a big difference at a difficult time.
Whatever it ends up costing you DO IT matey.
And how does that treatment compaire with NHS treatment? I work for the NHS and have seen some amazing ops undertaken with fantasic outcomes, and all FREE of course (at point of use).Whatever it ends up costing you DO IT matey.
Also, if you'd saved your £20k, that would buy a lot of private medical care.
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
As regards cost - bit of a red herring on your part. All this could have happened within a year of my first taking out BUPA insurance in which case I'd have only shelled out £1000 so far. As for £20k buying a lot of private medical care - if you're seriously ill you'll burn through £20k in no time.
In summary it's NOT about thinking you can get better treatment/outcome outside the NHS. For me, it's about all those other factors already mentioned. On just one basic level for example, given my diagnosis and how that's made me feel (psychologically) I REALLY don't want to sit in a waiting area with 50 other miserable looking ill people waiting for an over stretched consultant who's running an hour+ late (I experienced that). I want to sit in a comfortable arm chair in peace an quiet and be seen at my appointed time. For that one aspect alone - let alone all the other reasons mentioned - I'm happy to have shelled out the dosh.
PS. Several edits for spelling - which is still prob crxp!
Edited by Pugsey on Thursday 18th April 13:40
Edited by Pugsey on Thursday 18th April 13:44
mu0n said:
It's a non-essential insurance policy. If you can afford it, I think it's worth it. I have it and I hope I *don't* have to use it.
But it's nice to have the reassurance for the cost of a few beers.
Nicely summed up. I sometimes think people feel that having this kind of insurance reflects a lack of confidence in NHS treatment. Not at all - just a nice comfort blanket to have.But it's nice to have the reassurance for the cost of a few beers.
Do it. I had a shoulder problem so went to a physio & paid the £35 myself. When she said it may take several weeks I thought to hell with that expense and went through BUPA (get it with work).
Within about 6 weeks I'd had a scan, seen a consultant (which my GP told me would have been about 3 months wait on NHS) and had surgery on a pretty knackered rotator cuff. I was only in hospital for 1 night, private room, 50" flat screen telly with Sky, choice of excellent menu and the whole lot would have cost a few grand and taken God knows how much longer without the insurance.
I'm now confident that any other problems I may get (50 and starting to fall apart now) will be dealt with efficiently and quickly.
Within about 6 weeks I'd had a scan, seen a consultant (which my GP told me would have been about 3 months wait on NHS) and had surgery on a pretty knackered rotator cuff. I was only in hospital for 1 night, private room, 50" flat screen telly with Sky, choice of excellent menu and the whole lot would have cost a few grand and taken God knows how much longer without the insurance.
I'm now confident that any other problems I may get (50 and starting to fall apart now) will be dealt with efficiently and quickly.
carreauchompeur said:
Ok, that's interesting.
The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
Hi there - some interesting comments here - I am a specialist PMI broker and I can say many are sceptical regarding personal health insurance for clear reasons as highlighted already.The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
BUPA are one of the most expensive insurers in the market - often due to the fact that they are synonymous with private healthcare. They are however very good and up until 2012 they offered unrivalled cover for Cancer - which extended to unlimited cover for even the new advanced drug therapies such as Herceptin & Avastin. A course of these treatments can cost up to £80k! and are not always available through the NHS.
The WPA quotation you have seems competitive for a basic level of cover - please check the small print for the amount of cover available for diagnostic scans (MRI, CT, PET scans) - MRI's can be up to £800 each so if you have a limit of £1000 and need 3 scans you are left with a large shortfall. Also the Cancer cover for experimental therapies as described earlier may be limited for 12 months. Whilst this is not usually a problem (if no positive response to treatment within 12 months there is little point continuing) but it is worth knowing what you are covered for.
Claims settlement is very swift and painfree with most insurers and they usually settle directly with the consultant or medical facility.
The dental and Optical benefits can be used without influencing your future renewal premiums so use them or lose them. Any other more involved claims can affect your renewal premium if the claim cost outweighs your premium.
If you have any queries about any aspect of your policy / potential policy - I am impartial - drop me a PM.
Regards,
Marc
fandango_c said:
JumboBeef said:
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
You have entirely missed the point of what insurance is.Medical insurance is a "luxury" because you already have a "free" medical insurance in this country: The NHS.
I think if is you who has somewhat missed the point
JumboBeef said:
fandango_c said:
JumboBeef said:
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
You have entirely missed the point of what insurance is.Medical insurance is a "luxury" because you already have a "free" medical insurance in this country: The NHS.
I think if is you who has somewhat missed the point
Yes, in theory, in the long run you should never insure a loss you can afford to pay - I personally like to feel that should the worst happen, I will get all the help I need.
JumboBeef said:
fandango_c said:
JumboBeef said:
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
You have entirely missed the point of what insurance is.Medical insurance is a "luxury" because you already have a "free" medical insurance in this country: The NHS.
I think if is you who has somewhat missed the point
JumboBeef said:
fandango_c said:
JumboBeef said:
Medical insurance will always take more in than they pay out. On average, always better not to have insurance and put the money saved away.
You have entirely missed the point of what insurance is.Medical insurance is a "luxury" because you already have a "free" medical insurance in this country: The NHS.
I think if is you who has somewhat missed the point
So why have contents insurance at all?
For those times when the police, fire brigade, authorities or plumber cannot get to you in time.
Medical insurance, for me, is just the same.
carreauchompeur said:
Ok, that's interesting.
The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
I thought you were in the job. What about the private med schemes available via the federation?The dental and optical benefits work out to cost around £120/year (An addition to basic policy, but included within the £35/month quoted). However this also includes £300 extra physio cover per year.
My thinking was that the minimum benefit I'd derive from this would be £70/year (75pc of my annual £90 checkup) and that if I purchased a pair of decent glasses per year this would probably cover it- And obviously pay for the increased physio.
Food for thought though, any other inputs? Is BUPA cover that much better for double the price?
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