In the UK, the NHS provides a vital and useful service but from time to time it can do with a bit of help. Unfortunately finding health insurance for people over 65 years old can be a bit of a struggle, especially if you don't want to pay the earth.
However, it is possible to get affordable health insurance after 65 if you know what to look for. Here's a few tips about how to get the best deals on private health insurance for over 65.
Only pay for health cover you need
One of the easiest ways to get a price for over 65 health insurance is to simply to get a quote for a pre-prepared package offered by an insurer. Whilst this might work out OK, the chances are you could get a better deal if you opted for a more tailored policy so you only have to pay for what you need.
There are a whole host of different options available and the right one will depend on your individual circumstances.
If you want the assurance of knowing you have private cover in place but are able to contribute to the cost of your treatment should the need arise, you might want to opt for a plan where this cost is shared. This provides you with full cover but at a reduced upfront price. You will however need sufficient funds in order to be able to pay your portion of the costs if you need to claim.
While you may have a particular preference about which hospital you are treated at if you can be more flexible you could get the healtch cover you need far more cheaply.
Another alternative is only taking out health insurance for over 65 years old which covers the essentials. Inpatient care and treatment are the core components of every policy but outpatient care isn't included in every policy. Of course being able to have physiotherapy or tests privately would be ideal, but cutting out the peripheral non-critical treatments can mean a sharp reduction in your premium.
Go to the experts in over 65s health cover
Although it's possible to find a number of providers offering cover, when you compare over 65 health insurance quotes the chances are you will get the cheapest price from those who specialise in this area.
There are different ways that an insurer might offer a policy: either blanket cover which will exclude all previous illnesses (known as a moratorium) or individual underwriting tailored to your age group.
Insurance which is provided on a moratorium basis means no difficult health questions to answer when you apply but it also means that none of your existing conditions or illnesses will be covered if you were to need further treatment.
To find health insurance for over 65s with pre existing conditions, you need to apply to an insurer who assesses your risk and underwrites your application on an individual basis. Whilst this means you will have to complete a longer application form, the terms you get offered will be specific to what you need.
In addition, if you carry out an over 65 medical insurance comparison, you will probably find the best rates come from those who specialise in this area. This is because the underwriters at these companies will be more experienced in dealing with applications from more mature individuals. Other insurers who target a more general audience can often be more cautious which can result in a higher premium for older applicants.