Private Health Insurance

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Canfordhacker

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Putting aside the social arguments of the rights and wrongs of this...

I have just handed in my notice and will retire in 3 months (hopefully as lockdown end, the weather is perfect and golf courses are in prime nick). One of the perks I have enjoyed throughout my career has been private health care. I have seen numerous other threads about people at this stage of life and just wondered what your thoughts are on self insurance (ie take it out of the pension pot if the need arises) vs paying monthly for a policy. If you chose the latter, what avenues did you follow, as it looks a tad expensive.

Grateful for your input!
 

spongebob59

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if you can afford it, I'd say do it.
I have private healthcare and my cancer treatment went on during the lockdowns.
Im seeing the consultant tomorrow to plan this year's surveillance program and I'm not sure that would have happened without it.
the one thing I noticed at my last appointment was how bus y the hospital was, it seems to me more people are using private healthcare.
as I see it, I won't be taking up any NHS waiting list s once resources are freed up.
 

NearHull

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I kept mine running after retirement and have continued to do so for the past 5 years. It provides joint cover. The cost did jump up on leaving my company, I believe there was a discount being applied. I put up the excess amount to compensate a little.
We will probably never use it unless either of of us suffer a major illness. I view the. sum of circa £120 as a reduction of my income rather than a outgoing payment - if that make sense.
 

Doon frae Troon

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I do not think my wife would be alive today if it were not for private health care.
When she became ill she worked for an American company and it was part of the salary package.
For two years she had cancer treatment and medicine that she would not have got on the NHS.

It leaves us feeling a bit strange as we are both strong supporters of the SNHS and later in life she had two further cancer operations and received first class treatment.
 

Patster1969

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Putting aside the social arguments of the rights and wrongs of this...

I have just handed in my notice and will retire in 3 months (hopefully as lockdown end, the weather is perfect and golf courses are in prime nick). One of the perks I have enjoyed throughout my career has been private health care. I have seen numerous other threads about people at this stage of life and just wondered what your thoughts are on self insurance (ie take it out of the pension pot if the need arises) vs paying monthly for a policy. If you chose the latter, what avenues did you follow, as it looks a tad expensive.

Grateful for your input!
Depends on a couple of things really:-
* who your company plan is with, as that insurer might offer a discount continuation plan (with various options to reduce the premium ie excess, reduced outpatient limits) from your company plan, which would cover any pre-existing conditions (although more pricey),
* your medical history - if you have had next to nothing or not claimed on the plan that much, you could look at a new moratorium (quick administration but claims take a bit longer) or full medical underwriting plan (longer administration process but you know exactly what you are or aren't covered for), as this reduces the cost from the all singing, all dancing continuation plan,
* where you live, as the insurer may have a reduced hospital list (excluding the expensive hospitals inside the M25), and
* an 'open referral' plan (you have to get everything pre-authorised and the insurer sets up specialist referrals for you within their 'network' of providers) - this depends on the insurer though.

Apologies - work for a broker in global employee benefits, so UK individual benefits aren't my bag but let me know if you need anything. There is probably something else that I'm forgetting though - if I think of something else, I'll add to thread.
 

arnieboy

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Useful thread. I also retire in three months time and will be looking to carry on with the company private health scheme.
 

PhilTheFragger

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Had it as part of my ex wifes employment benefits

Used it several times, however I found that it just paid for convenience in having an op done when you wanted it
all of my ops would have been done within a few weeks anyway as they were all urgent

The proper life saving stuff was done by the NHS anyway so I befefitted from the NHS cash benefit

Obviously a minor op is a different thing entirely

But i dont do Minor

Now solely at the mercy of the NHS
 

pauljames87

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Nothing wrong with private medical insurance

Takes away patients from an overun health service

Used to have it after I waited 2 years for a replacement ligament on the NHS and I was worried would happen again so took it out and they covered it after 3 years

Gave up a while back now but was nice to have that security
 

arnieboy

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To be honest it would be more for my wife's benefit as she has had major bone surgery over the years and wants the cover. I would be happy to stick with the NHS.
 

GaryK

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I used to have Private Health cover at my previous company and so glad that I had it.
Went through a period of 3 years with cervical spine issues which was initially treated with injections into my spine.
The effectiveness wore off after a while and in the end I had a couple of discs replaced and have been so much better over the past 3 years.

The main benefit was the lack of waiting lists - I'd see my consultant at the start of the week and he'd have me in for the procedure / op within a week.
I was slightly disappointed that I wasn't treated like royalty (think long haul 1st class air travel standards LOL), but did get my own private room each time I was in hospital.

I was made redundant 18 months after the main op and enquired about continuing my cover (including any spinal issues), but the cost was nearly £300 per month.

Due to the nature of the op and disc replacement is a relatively new procedure with new products becoming available, I have annual reviews with the same consultant, but on the NHS.

If you can afford the premiums, then go for it - especially considering the number of non-urgent / elective surgeries that have been postponed on the NHS, thanks to COVID.
 

NearHull

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Not much more than a.golf membership.
I hadn’t thought of it in that way but it does bring it into perspective and you have cleared away any lingering doubts on whether it is worth it. As it says on the tin, it’s insurance. Thanks 👍
 

Doon frae Troon

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A word of caution if cherry picking private care.
A relative had a hip replacement as a one off due to long NHS wait in her area.
She expected the NHS to treat her after she was home after the operation.
That was not the case and as she lived alone she was basically stranded.
My Mrs and I had to care for her for over a week before we could persuade the NHS to attend.
 

JamesR

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I had a year long illness, which the consultant I was seeing didn’t deal with.
I ended up going private out of sheer exasperation, and was sorted in a matter of weeks.
It cost me 2 grand, but was well worth it. So our firm are considering medical insurance in future, for the directors.
 
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