Getting Cheaper Premiums
Health insurance has become more affordable in recent years thanks to the growing demand for access to private medical services. Whilst National Health Service offers one of the most comprehensive public health systems in the world, public resources are often stretched, and wait times for care can be lengthy. Health insurance offers the opportunity to extend your medical care with prompt treatment in comfortable private facilities. Getting cheaper health insurance premiums will make private medical cover even more affordable.
You may get cheaper health insurance premiums by purchasing private medical cover through your employer. These days, many small and large businesses offer private health insurance as part of an employee benefits package. If you have the opportunity to buy group insurance through your company, taking advantage of this benefit may reduce your costs. Insurance rates for groups are generally lower than rates for individual policies.
Premiums and Excess
Private health insurance is paid for in two basic ways, through premiums and through excess. Premiums are often charged monthly, and premium payments may vary depending on the extent of your cover and the range of treatment options you require. The more comprehensive your coverage, the higher your premiums will generally be. You can lower your premiums by limiting your cover to those benefits that are essential to you and your loved ones.
For many families, a basic package that covers fees for physician consultations, diagnostic exams, outpatient procedures, hospital accommodations and a 24 hour helpline is sufficient for their needs. You can get cheaper premiums by selecting a health insurance plan that covers the basics, with no options that may never use. If benefits like chiropractic care, physiotherapy, private hospital rooms and psychiatric services are not necessary, choose a package that is less inclusive to minimise your premiums.
Opting for a high excess health insurance plan will entitle you to lower premiums. The excess, or co-insurance, is the portion of your medical care that you pay for out of pocket. With high excess plans, also known as shared risk policies, the insured accepts a higher level of financial responsibility. In return, your monthly premiums are cheaper, and you may have access to a wider range of practitioners and facilities.
If you rely on private health insurance for specific services, paying for these treatments as needed may be a more affordable option than a package plan. You may also get cheaper premiums by accepting care through specific hospitals. If you are willing to accept certain limitations on your options, such as seeing NHS doctors when timely appointments are available, your monthly costs may be cheaper.
Insurance Premiums and Your Health
Maintaining a healthy lifestyle may entitle you to cheaper premiums. By eating nutritious meals, exercising properly, omitting tobacco and moderating your alcohol use, you may make fewer claims on your health insurance. As a result, you may qualify for a no claims discount through certain providers. Over time, a no claims discount may lower your premiums considerably.
Certain insurance providers offer discounts if you complete wellness courses. These programmes are designed to reduce your risk of chronic disease and help you achieve optimal health. By completing courses in weight management, fitness, smoking cessation, diabetes prevention or other important topics, you may achieve lower premiums and enjoy better health.
Even if you've found a competitively priced private health insurance plan, getting cheaper premiums is a priority for many members. Ask your insurance provider about discounts that may be available for meeting health goals, participating in wellness schemes. The more you do to protect your health, the cheaper your premiums are likely to be.
We were actually surprised how easy to use the site was. We found a new policy that has the same coverage as our old one but is 20% cheaper. 
Chloe and Jack A, Cardiff UK
