What is health insurance?
Health insurance, often called private medical insurance, is an insurance policy that covers the costs of private healthcare, from diagnosis to treatment. You will pay a monthly subscription that covers all or some of the cost of treatment for acute conditions that develop after your health insurance policy has begun.
You may take out private health insurance because it gives you quick access to medical treatment. We offer different levels of private health insurance cover for you to compare: Comprehensive and Treatment and Care.
How much is health insurance in UK?
The average premium for UK private health insurance is £1,435 per year (source: ActiveQuote). But you might pay much less than that for health insurance depending on the two factors that influence the cost.
How Healthcare Works in the UK
It is impossible to explain the UK healthcare system without drawing upon the history of the NHS. Launched in July 1948, it is known worldwide for being the first healthcare system funded by general taxation, which provides free care at the point of use. Moreover, it fully recognizes health as a right, meaning that free care is granted on the basis of need rather than the payment of fees or insurance. In simpler words, if you are relocating to the UK, you will have access to free healthcare via the NHS. Even though the standard of medical facilities is good, be warned: the waiting lists can be long, and your choices might be limited.
UK Healthcare Facts
- Even though the NHS is often the target of criticism due to its long waiting times and increasing staff and supplies shortages, the Commonwealth Fund health thinktank carried out an analysis of healthcare systems in 11 rich nations. It found that the NHS is the best, safest, and most affordable.
- If you are a UK resident, you are entitled to receive NHS care, but you can opt to pay for private healthcare or use a combination of both.
- If you are an NHS patient, your main contact for health-related matters will be your GP (General Practitioner). The appointments with your GP are generally are quite short. They last between 8 and 10 minutes.
- If you require more specific care, your GP will refer you to a specialist.
Which are the Pros and Cons of the UK Healthcare System?
In comparison to the NHS, patients report receiving a higher standard of care, which is probably due to a simple equation: patient numbers are lower and spending budgets are larger. As you can see, the UK healthcare system has advantages and disavantages you should consider if you are permanently relocating. In this case, you will be entitled to all the services provided by the NHS, reducing health care costs to a minimum. Should you decide to get private medical insurance anyway, you will certainly have faster access to specialists, better facilities and reduced waiting times.
UK Healthcare Costs
Even though prescriptions are paid, they have a fix priced, regardless of the type of medication or the quantity you require per treatment. The current prescription charge is 9 GBP per item (11.50 USD). In the UK, pharmacies are commonly called chemists. The major chain is Boots, but many supermarkets have them in their premises. There also many online alternatives, such as Lloyds Pharmacy and Chemist Direct.
Quick Facts About Private Health Insurance in the UK:
- Around 13% of UK consumers claim to have some level of private medical insurance.
- The majority of private policies exclude mental health, maternity services, emergency care, and general practice.
- In the UK, your postcode might affect the price of your medical insurance. Providers base their premiums on the claims made by certain groups of people, which is usually influenced by their place of residency and age.
UK Private Health Insurance Costs
To give you a rough idea of the costs of private treatments, here are some price averages and ranges:
- Consultations: Around 200 GBP (250 USD)
- Surgical procedures: From GBP 1,000 (1,300 USD) to 10,000 (13,000 USD)
If you want a more specific idea, Nuffield Health, which is one of the major private hospital providers in the UK, has itemized pricing lists for its 31 hospitals.