Can You Afford Not To Have Private Medical Insurance?
Almost 4 million people in the UK have private medical insurance, with the NHS offering free healthcare why would anyone pay this? 1 in 2 people in the UK have been or will be diagnosed with cancer in their lifetime. How can Private Medical help? These are some of the questions that Willis Wealth Management can assist with.
- Some specialist consultants only work 1 day a month for the NHS.
- 60 million GP appointments in the UK result in a wait of 1 week or longer.
- The waiting times to see a consultant following on from a GP Referral can be more than 6 months.
- The waiting time for treatment referred by the consultant can also be more than 6 months.
- Diagnosis of illness and disease can take months meaning that treatment can be harder especially in cancer cases.
- The consultant recommended is not conveniently located or available at a time that suits you.
1 in 2 people in the UK have been or will be diagnosed with cancer in their lifetime. How can Private Medical help?
- Diagnosis can take months on the NHS, resulting in cancer that has reached advanced stages. This is due to the waiting times on the NHS for specialist consultations, MRI’s, X-Ray’s and biopsies. A Private Medical Plan should allow you to get private treatment within days of referral.
- If you do use the treatment on the NHS for cancer then most private medical plans will offer NHS cash benefit meaning they will pay you a set sum per day that you use the NHS for cancer treatment.
- The NHS has withdrawn 25 of the latest cancer drugs from service for Bowel, Prostate and Breast Cancer due to the cost and a further 12 newly developed drugs shown in clinical trials to be effective have been refused due to extra cost. The majority of proven cancer drugs as well as some experimental treatments will be eligible with Private Medical cover.
- The NHS guidelines show that cancer patients should receive treatment within 2 months of being referred. In 2014 they did not manage to hit this target in any of the 4 monitored quarters.
- Palliative Care is offered by most Private Medical plans following on from cancer. This focuses on providing patients with relief from the symptoms, pain, physical stress, and mental stress of a serious illness. This is usually not provided by the NHS and people must rely on charities to help them with this.
Private Medical Insurance
- No NHS waiting lists to contend with.
- Puts you in control over when and where you receive treatment.
- Fast access to out-patient appointments, diagnostic tests and treatment.
- Private en-suite rooms.
- 24 hour access to a private GP through your smartphone or tablet (selected providers.
- Peace of mind that your consultant has recommended your treatment because it’s the best for you, not because its cost effective.
- Immediate treatment in the hands of the most experienced doctors and nurses.
There is a large choice of providers and cover in the Private Medical Insurance market. To make sure you get cover that matches your needs and budget then it is important to take advice. At Willis Wealth Management we compare the leading PMI providers on your behalf and advise on the plan that is best suited to you. If you already have a Private Medical Insurance plan in place then it is important to make sure that you check the market each year at renewal to ensure you are still receiving the most appropriate cover at the best price. It is usually possible to continue cover for pre-existing medical conditions so you won't have to worry about not having cover for conditions you have previously claimed for. It is also worth pointing out that Corporate Private Medical Insurance is usually sold at a much reduced premium to Individual Private Medical Insurance so for business owners it may be more financially viable to do a Corporate Private Medical Insurance Plan that included other owners, directors or employees. If you have any questions on the content above or wish to receive free impartial advice on your Wealth Management needs, contact Stephen Willis at Willis Wealth Management on 028 9032 9042 or firstname.lastname@example.org