Finding Cheap Health Insurance

Health insurance has a bit of a reputation of being a ˜luxury' product, with premiums that are too high for the average consumer. But insurers have been working hard to create policies that suit all needs and budgets, and there are some simple things you can do to find a plan that doesn't break the bank. Here are our top tips for finding affordable health insurance.

1) Decide what you want covered

Whilst there are comprehensive health insurance policies on the market that offer full cover, these can come with high premiums. If you do not want to pay too much for your health insurance, think about what you want to get private and what you are happy getting on the NHS. For example, if it is quick diagnosis you are looking for you can find a policy that just covers diagnostic tests and scans. But if you want care in a private room, you could look for a quote that will meet the costs of inpatient treatment in a private hospital. By knowing exactly what you want cover for you will be able to find a policy at the best price.

2) Customise your plan

Not all health insurance policies fall under the terms budget, mid-range and comprehensive any more. In fact, insurers are now offering adaptable plans which allow you to pick and choose what you want to be covered for. You will start with a basic module, and then you can add a range of additional options such as cancer cover, outpatient cover or psychiatric care to build your perfect policy.

3) Shop around

There are many health insurers in the UK, and they each offer a range of plans. It is important that you search all of these options to ensure that you find the cheapest policy with the best level of cover. Shopping around can involve visiting each insurer directly, which can be time consuming! Rather than doing that, you could simply use a comparison website to view all the options online and make an informed decision.

4) Choose a discount scheme

Do not just accept the first price that is quoted to you, because there are many discount schemes you can apply that will ensure you still have a good level of cover at a decent price. For example, you could add an excess to your policy which will lower your premiums significantly. In addition, you could reduce the number of hospitals you have covered by your policy- if you don't live near London there is no point paying for premiums London hospitals! Finally you could add a six week option- this means that if the NHS can treat you within six weeks you will go via the NHS, but if they can't then you go private straight away.