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Over 50 Health Insurance

Enjoy the privacy and comforts which private health insurance can provide.

Having private health cover means that you can access medical treatment quickly and at a time and place to suit you rather than spending time on a waiting list putting up with pain and discomfort.

Over 50s Health Insurance

Private health insurance is a form of personal insurance which can cover the costs of medical treatment. It can be used to pay for consultant fees, treatment at a private hospital, physiotherapy and further care at home. It is important to note that it is designed to cover the costs of what are termed ‘acute’ conditions. These are illnesses or diseases which are likely to respond quickly to treatment, for example, a fractured arm or cataract surgery.

What it does NOT cover is pre-existing and chronic conditions. Basically, these are illnesses which the policyholder had (or has) before taking out the insurance. A chronic condition is one which is likely to be long term and so require constant monitoring, check ups and control of symptoms.

It is important to note that private health insurance does not cover accident and emergency treatment. This requires specialist facilities, such as a trauma unit, which are best dealt with by an NHS hospital. This type of treatment is not catered for at most private hospitals. In general, the NHS is still your best bet if you are involved in an accident or an emergency.

For many people, health insurance means that they can have instant access to treatment rather than having to wait. Rather than having to spend time on an NHS waiting list, which can mean putting up with pain and discomfort as well; health insurance can avoid this and so provide peace of mind. It means being able to see a consultant or specialist quickly, and at a time and date to suit you. If you have to be admitted to hospital then you have a choice of hospital and location.

Staying in a private hospital will mean a private room with en-suite facilities and other home comforts. This can also include one to one nursing care. This is especially attractive to those people who value their privacy and their home comforts.

You can buy private health insurance from an insurance company, an independent adviser or from an insurance agent (includes banks, building societies or retail outlets). Before you do so, it is important to decide upon what type of cover you need (and what you don’t need) beforehand. There are many types of cover available which also include cover for specialist issues such as sports injuries, children and road traffic accidents.

In general, there are six main types of health insurance which includes cover for the over 50’s and the elderly. As you get older the body does not always work as well as it used to and so is prone to things going wrong, such as arthritis, heart disease and cancer. Statistically, an older person is more likely to require medical treatment than a younger person. If this medical treatment is non-urgent then you are looking at treatment on the NHS which can mean long waiting lists. This is where private health insurance can be most useful.

What is worth bearing in mind is that many insurance providers will charge a higher premium for an older person than a younger person, and, this premium rises with age. A provider will see an older person as more of a risk than a younger person even though this is not always the case.

However, there are some companies, such as AXA PPP Healthcare and Standard Life which can offer special schemes for the over 50’s or non age-related premiums. Other options include checking with your employer to see if they offer a health insurance scheme for retired employees. Another option is to see if your union does any special deals for older or retired employees. If you are self-employed then many providers will offer packages aimed at small businesses. These include BUPA, Standard Life and AXA PPP Healthcare.

If you are retired or about to retire and are planning to spend a set amount of time abroad then it is worthwhile considering expatriate health insurance. You may have bought a second home aboard, for example, southern Spain, or looking to do some travelling around the world. If so, then it would be wise to have some form of health insurance in case you are taken ill or involved in an accident.

If that happens in the UK then you have the NHS to fall back on but if you are in another country then very often this can mean extortionate bills for medical treatment. Many countries do not operate a free healthcare system like the UK, and if even they do, you need to have the right paperwork to access this treatment.

Healthcare abroad can be better or worse than the UK but if you do not have cover then you are faced with expensive bills, or having to travel to another country in order to access a decent standard of treatment. Expatriate health insurance will cover the costs of medical treatment aboard plus the costs of flying you back to the UK. Plus, if you have been outside of the UK for more than 6 months (within the EU) then you are not eligible for free NHS care.