There are many ways to save money on your health insurance, but first you need to decide what kind of coverage you want and if you want coverage just for yourself or for your whole family.
Depending on how much coverage you need, the cost of health insurance can vary a lot. If you took all the options available in private health insurance, the premium would be astronomical, which is something that very few people can afford. You can get good coverage for a reasonable price, though, if you shop around and follow these tips.
Always check the policy because it might include things which you don't need, for instance if you are a single man and a policy includes costs for pregnancy then this obviously won't be needed. Even though this might seem like common sense, it is surprising how many people don't look into what is in the policy they are buying. So, always look at the different packages that are available.
If you want the cheapest health insurance, you might want to buy a policy that only covers major illnesses. Limited coverage is one of the cheapest ways to get private insurance, but it won't cover small illnesses or accidents.
If you offer to pay a higher excess, you can lower the cost of your premium. Before your insurance kicks in, you will have to pay something toward the cost of your treatment. This can start as low as GBP100. You could offer to share a portion of the cost, which would also lower your insurance premium.
While most people take out private insurance to beat the waiting lists that the NHS are noted for, it can help to bring your premium down if you choose to have a waiting period. For example, you could choose to wait for 6 weeks. If you can be seen on the NHS during that time, that's great. If not, you go to a private doctor.
