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How much does health insurance cost?

Learn about what factors can affect your insurance premium and how much you could be paying

Understanding your private medical insurance premium

If you are new to health insurance and thinking about getting a policy, you might be interested in its cost. In the next paragraphs, we will explore the factors influencing the cost of Freedom Health Insurance policies and give you a rough idea of how much you could be paying for it.

Is health insurance expensive?

As most people are entitled to free NHS healthcare, private medical treatment could be considered a luxury. However, paying for private healthcare from your own pocket could be very expensive and this is where a Freedom Health Insurance plan can help, by providing access to private treatment in a more affordable way.

The cost of your health insurance depends on several factors, but it can generally be adjusted to fit most budgets. Whether health insurance is expensive or not, it is down to your personal circumstances and your personal view.

A health insurance broker can help you choose the right plan by comparing different policies and private health insurance providers and by giving you advice on the best way to adjust your premium to fit your budget.

There are several factors that can influence your Freedom Health Insurance premium, some of which you may be able to control.

Factors that determine your health insurance cost


  • Your policy cover - the more cover and benefits you have, the higher your premium will be.
  • Your age – as you get older, you are more likely to need medical treatment, therefore your health insurance premium will usually increase to reflect this.
  • The number of people covered by your policy – with Freedom you can add your partner and children on the same cover which will have an impact on your price.
  • Your policy excess – this is your contribution towards your treatment cost. For all Freedom policies, you can adjust your voluntary excess. The larger the excess amount you agree to, the cheaper your premium will be.
  • Your claims – with a Freedom Health Insurance policy you will generally not be penalised for the claims you make, therefore your premium will not be affected.
  • The cost of providing private healthcare – such as the increasing cost of drugs or hospital equipment.
  • Insurance premium tax – this is the general tax that applies to all UK health insurance policies and it currently stands at 12%.
  • Your location – some insurers may charge you more for living in an expensive location (such as London). Freedom Health Insurance offers you the same premium, no matter where you live.

How much does Freedom Health Insurance cost?

To give you a better idea of what you might pay for a Freedom Health Insurance policy, here are some examples of quotes. Please note, the prices below have an illustrative purpose only and are correct on 11.11.2020.

Price Cover Details Product
£22.76 /month 30-year-old person with inpatient cover and cancer cash benefit. Excess: £100 Freedom Essentials
£67.64 /month 60-year-old person with inpatient cover, cancer cash benefit and £1,500 outpatient cover. Excess: £200 Freedom Essentials
£107.73 /month 32 & 30-year-old couple with full inpatient and outpatient cover. Excess: £250 Freedom Elite
£92.84 /month 30-year-old parent + 6-year-old-child with £1,500 outpatient cover and private GP, dental and optical benefit. Excess: £250 Freedom Elite
£81.23 /month 42 & 40-year-old couple + 12 & 3-year-old children with inpatient cover, cancer cash benefit and £1,500 outpatient cover. Excess: £200 Freedom Essentials
 

How can I reduce the cost of my private health insurance policy?


You can adjust your premium by:

  • Making sure your cover includes only the benefits you need. It is important to read the policy documents to understand your policy.
  • Adjusting your voluntary excess level. With Freedom Health Insurance, your excess level has a direct impact on your cost. The higher the excess, the bigger the discount applied to your premium.
  • Adjusting your cover levels - you can choose different monetary limits for some benefits, which means that the amount you can claim is limited. This will have a discount effect on your premium.
  • Choosing a hospital list – With Freedom Elite, you can choose from two hospital lists and your choice will have an impact on your premium. However, with our Freedom Essentials policy, there is no hospital list, so the cost will not be affected by the hospital chosen when making a claim.
  • Choosing the payment period - Freedom Health Insurance currently offers a 6% reduction for annual payments.

While the private healthcare alternative is often too expensive for many people to access directly, the role of private medical insurance is to help people get treated privately in an affordable way. The exact cost of your health insurance will depend on many factors, but in most cases, you should be able to find a plan that suits you. If you want to know exactly how much you could pay for a Freedom Health Insurance plan, you can get an online, no-obligation health insurance quote in seconds.

If you are looking for a health plan for your employees, find out more information about our business health insurance, fill in the ‘Request a callback’ form and a member of our team will contact you shortly.

Get a quick health insurance quote. Compare our products, personalise your cover and purchase online in just a few minutes.

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