Healthy Mama - Collaborative Post
With the number of policies available on the market, finding the best private health insurance for you can be challenging as one size doesn't fit all, and it's essential to take out the plan that fits the requirements of you and your family. There are many factors to consider when you're looking to purchase private health insurance; from health insurance excess to policy exclusions, we're here to help you understand everything you need to know before you buy.
Choosing The Right Cover
There are many options to choose from when you're looking for the right cover on your policy, and many people make the mistake of purchase extras they never need to use. The options available to you may include types of treatment such as inpatient, day-patient and outpatient treatment, alternative therapies, mental health treatments, or even dental and optical cover. Once you've chosen a policy with the treatments you want to cover, you are often given the option to select how much you can claim towards each treatment and where you would prefer treatment to be provided.
The type of cover your select will impact your premiums and what you can claim for on your plan, which is why it's vital you take the time to understand what options will best suit your needs as you can't typically change the level of cover mid-contract. Check out Switch Health for more information about choosing private health insurance.
As with any other insurance you take out, the excess on your health insurance is the contribution you pay towards the cost of your medical treatment when you claim. In the same way you are able to tailor your cover to meet your needs, you can typically decide how much you want your voluntary excess to be alongside any mandatory excess the provider you choose may have. Depending on the provider and policy you take out, you may be required to pay your excess each time you make a claim or once per year.
What Affects The Premiums?
The first two factors that affect your premiums are your level of cover and the excess you choose; however, there are other aspects that can influence the price of your health insurance. Every health insurance provider will have their own criteria for calculating premiums, but the most critical consideration that will affect your premiums is your age. Typically, the older you are, the higher your premiums will be, as you will have a higher chance of needing increased medical attention as you age. Health insurance providers will also consider the area you live in, your medical history, and your lifestyle, for example, if you are a heavy smoker or consume large amounts of alcohol regularly.
Health Insurance Policy Exclusions
Every insurance policy has exclusions, and the same can be said for health insurance. However, every provider is different, and some may have more exclusions than others, which is why it's vital you understand the exclusions before you buy. The exclusions should be listed with the other terms and conditions of the policy, which you will be able to read before you make a purchase.
We've listed the most common exclusions you may find in the terms and conditions to make it easy to understand what you can expect of your health insurance.
- Pre-existing conditions
- Chronic illnesses
- Cosmetic surgery
- Drug and alcohol abuse
- Emergency treatment
- Experimental or unproven treatment or drugs