How to purchase private health insurance

The private medical insurance market in the UK is regulated. Only firms authorised and regulated by the Financial Conduct Authority (FCA) can sell health insurance policies.

Buying private health insurance is usually straightforward, but you want to make sure the policy suits your needs. In this article, we explain where you can buy private medical insurance, the steps involved and the information you need to give when you apply.

Where can I buy health insurance?

You can buy private health insurance directly from a health insurance provider, or through an intermediary such as:

• a general insurance broker, particularly one that specialises in health insurance
• a financial adviser, although not all advisers have experience of health insurance and some may refer you to another adviser
• a comparison website

Whichever route you choose, there are generally three steps to buying private health insurance.

Step 1: Get health insurance quotes

The hardest part of buying health insurance is deciding which policy to buy. There are many options available, and shopping around can take time. If you settle for the first quote you get, you risk buying a policy that is not right for you.

It is a good idea to get quotes from different insurers, so you can compare their benefits and cover limits against your own health needs. You can do this by:

• getting quotes directly from insurers
• using a comparison website
• speaking to a specialist intermediary, such as a broker

If you already know about health insurance, or you are interested in a particular insurer, going direct may suit you. A comparison website lets you compare policies quickly. If you would like independent advice, an intermediary can help you compare policies and choose one.

What information do I need to get a health insurance quote?

Getting a quote is usually quick and similar across insurers. You will usually be asked for:

• your name and contact details
• the dates of birth of everyone you want to cover
• your postcode, as many insurers base their price partly on where you live
• whether you already have health insurance
• your cover preferences, such as the treatments you want covered, optional benefits, level of cover and excess

If you decide to buy a policy, you will need to give some further details. We explain these below.

Step 2: Compare quotes and choose your policy

Once you have your quotes, compare them to see which suits you best. Consider both the cost and the cover.

The right cover for your needs

Cover ranges from inpatient treatment only, with no outpatient cover, to plans that include inpatient and outpatient treatment, mental health care, cancer cover and therapies. The more cover you choose, the higher the premium.

Getting the right balance between cover and price is usually the hardest decision. One size does not fit all, so it is important to compare quotes and find the one that works for your circumstances.

How much does health insurance cost?

By shopping around and being flexible about your level of cover, you should be able to find options for most budgets. The cover you choose is not the only thing that affects your premium. It can also depend on:

• your age, as premiums usually rise with age
• where you live, as some insurers charge more in areas where medical costs are higher
• your health, including medical conditions you already have, whether you smoke and how active you are

Read more about what affects the cost of private health insurance.

It can be tricky to compare policies on price and cover alone, because each insurer sets premiums differently and there are many variables. Deciding which benefits matter most to you can make it easier.

Step 3: Buy your health insurance

Once you have chosen a policy, you can apply. You can usually do this online, by phone or face to face.

What information do I need to give when I apply?

When you apply, the insurer will need a few more details, including:

• your occupation, as some jobs may have certain exclusions
• your full address
• your cover start date, which can usually be up to 28 to 30 days in the future but cannot be backdated
• your payment details

Do I need to give details about my health?

It depends on the type of underwriting on your policy. Underwriting decides which medical conditions you already have will be excluded from your cover, and for how long.

The most common types are moratorium underwriting and full medical underwriting. Read more about medical underwriting.

What happens after you buy private health insurance?

Once your policy starts, you can use private healthcare for eligible claims. You can still use NHS services if you wish.

Read all the documents your insurer sends you, so you understand your cover, your exclusions and how to make a claim. You usually have at least 14 days after buying to cancel your policy and receive a full refund, if you have not made a claim.

Everyone has different health needs. It is important to find the right balance between the cover you need and the premium you are willing to pay. Do your own research, and get advice if you need it.

Looking for health insurance?

Read more about our individual and family health insurance. If you are looking for cover for your business, read about group health insurance. If you have any questions, contact us.

Freedom Health Insurance cannot give advice on which cover is right for you. For independent advice and to compare providers, you can find a health insurance intermediary through the Association of Medical Insurance Intermediaries.