The origin of private medical insurance goes back a long way -
before the NHS was formed. In pre-NHS days, people contributed
to "friendly societies", which provided financial assistance to
people in times of need. Some private medical insurance
providers, such as BUPA, remain non-profit-distributing bodies,
though there are also many commercial insurance companies
providing private medical insurance these days. One of the
best-known names in private medical insurance cover is
AXA PPP healthcare
- which was actually conceived in 1938 to provide a health
insurance scheme for middle income earners in London.
The principal aim of private medical insurance is designed to
cover treatment of "acute illness" - defined by Which? As
"conditions which can be cured or substantially alleviated by
treatment." Treatment of chronic illnesses, such as multiple
sclerosis or arthritis, may not be covered by private medical;
so critical illness insurance might be more suitable. Critical
insurance cover will be based on your individual requirements -
so shop around for the right policy and always be completely
open with your insurance provider, or you may invalidate a claim
at a later date. Other treatments generally excluded
from private medical insurance include cosmetic surgery,
treatment for alcohol or drug abuse and infertility treatment.
The majority of standard policies exclude private consultations
of a GP, routine check-ups and dental work - unless it is
undertaken in a hospital. However, always check your private
medical insurance policy - as some will be more comprehensive
than others. Private medical insurance can be an
effective way of ensuring swift access to medical care for your
family. Just remember that insurance policies reflect your exact
circumstances - so don't assume that one size fits all.
For additional information on private medical
insurance and critical illness insurance: "Be your
own financial advisor", Which? Consumer Guides, author Jonquil
Lowe
Private healthcare in the UK Critical illness insurance information
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