Make sure you’re covered
Featured Products Promotional FeaturesPosted by: Dental Design 6th April 2022
Sustaining an injury can cause undue stress, especially when it prevents you from being able to work. Alongside financial insecurities, simply losing the ability to perform everyday tasks can be emotionally distressing at times. Acute injuries, such as breakages and fractures, may not be long-lasting but can prevent you from working for several weeks, perhaps even months depending on when you’re able to undergo treatment and how long is needed for recovery.
Private medical insurance may be a viable option for you, so you can receive treatment and get back to work as soon as possible. There are several things you should consider beforehand, to ensure you take out a policy that suits your needs best.
How can private medical insurance help you?
We depend on our health to be able navigate life proactively and when injuries or illnesses do occur, having private medical insurance provides a safety net that takes the weight off your shoulders. However, some may have doubts about the benefits of private medical insurance – is it worth the cost? What can I receive privately that I can’t with the NHS?
The NHS has been under excessive pressure as of late, which has had an impact on how efficiently these services can deal with demand – indeed, the average overall waiting time for treatment increased in August to 11.5 weeks.[i] The number of patients waiting over 18 weeks for treatment also increased to over 1.85 million.i
Plus, with our growing population, the NHS will most likely continue to be encumbered in the years to come. With private medical insurance, you’ll be able to bypass excessive waiting times, have access to private hospitals and receive private consultations. You’ll also be able to receive out-patient care, such as X-rays, tests and scans.
Most private medical insurance policies will provide you the option of private care, in addition to care provided by the NHS. Premiums can be paid monthly or annually: the cost is usually determined by several factors, such as your sex, age and any previous medical history you may have. It also depends on the type of cover you choose, so you’ll want to ensure that you select a policy that best suits you. Policies usually fall into three categories – standard, budget and over 60s.
Some things to consider
A standard policy usually gives the most comprehensive cover and there are a range of sub-divisions within this category. You should look out for certain things in their terms of policy, such as: treatments offered and excluded, the duration of the cover, hospitals to be used, accommodation, how to arrange a claim and how soon claims are settled.
For a budget policy, you’ll receive reduced cover in return for cheaper premiums. For example, the insurance company may limit the types of treatment that are covered and only pay out a given amount per year for treatment, even if your treatment costs more. The policy may also only come into effect if the NHS cannot begin treatment within 6 weeks.
The over 60s policy caters to those in a 60 to 75 age bracket. Those within this age range are usually considered to be more at risk of sustaining an injury, and the policies available reflect this.
It is crucial to make sure that your chosen policy will cover treatment for any health conditions that may arise. Cancer cover, for example, is usually included by most insurance companies in their standard policies, but what other illnesses are covered may differ from insurer to insurer.
You should also check how much the excess amount is for each policy. An excess means that you pay a portion of your treatment costs up to the amount of your agreed excess. If your treatment costs £4000, for example, and you’ve agreed on an excess of £500, then your insurer will pay the remaining £3500. Typically, the higher the excess amount, the lower your monthly premiums will be. Similarly, if you’d prefer a lower excess, then you’d be paying a higher monthly premium amount.
It’s also important to know what your policy will and will not cover. Most private medical insurers won’t provide emergency treatment, or provide cover for long-term conditions. Their aim is to provide cover for treatable, acute conditions.
Helping you choose
With so many policies available on the market, making the decision that’s best for your individual circumstances can be a challenge. As such, it’s important to enlist the help of experts, such as the award-winning team at money4dentists. Thanks to our comprehensive understanding of the market and our ability to evaluate individual circumstances, we provide honest and tailored advice to help dentists achieve their professional and personal goals.
Sustaining an injury or developing an illness can happen at any time and may have severe repercussions on your life. With the right private medical insurance, you can rest assured that should injure yourself and are unable to work, you’ll be able to receive treatment quickly and feel secure that you’re covered until you can return to work.
Richard T Lishman
Managing Director of the 4dentists Group of companies
For more information, please call 0845 345 5060 or 0754DENTIST.
Email info@money4dentists.com or visit www.money4dentists.com
[i] Dyson, Mel. “Pressure Points in the NHS.” The British Medical Association Is the Trade Union and Professional Body for Doctors in the UK., 2020, www.bma.org.uk/advice-and-support/nhs-delivery-and-workforce/pressures/pressure-points-in-the-nhs. Accessed 1 Dec. 2021.
