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You Should Know About Private Health Insurance If You’re Self-Employed

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Starting your own business is already a stressful affair, and adding healthcare into the mix does not alleviate any of the pressure. If you are over 80 years old then this website will be useful for you in getting life insurance. However, if you’re not then you know that Millennials and healthcare do not usually go in the same sentence together. Thankfully there are coverage options for young entrepreneurs that will fit the lifestyle of you and your business.

When buying any kind of insurance, it is important to take two particular factors into particular consideration:

  • The extent to which the cover offered suits your particular, individual needs and circumstances; and
  • The price of the premiums you need to pay.

These twin factors are closely interrelated so that the cover offered is at least as important as the price – and your choice becomes one based on value for money, rather than rock-bottom price.

Private Health Insurance

When choosing health insurance, these twin factors are more important than ever, simply because of the especially wide range of variables in this type of cover. And that, in turn, makes the gathering and assessment of private health insurance quotes a critical part of your selection process. 

Factors Affecting the Quotes you Receive

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So, what are some of the variables likely to determine the private health insurance quotes you receive?

Fully underwritten or moratorium cover

One of the principal determinants is whether the insurance cover is provided on a fully underwritten or moratorium basis; The former is typically more comprehensive (and therefore more expensive) and requires a full and detailed disclosure of your medical history, explains the Consumer Association’s Which magazinemoratorium health insurance, on the other hand, is generally a cheaper option but may incorporate blanket exclusions for the treatment of pre-existing medical conditions you have disclosed.

Levels of coverage

Probably the greatest variations in the private health insurance quotes you receive are a reflection of the choices and level of provision in the key areas covered by the typical health insurance plan.

Inpatient treatment

If you need to be admitted to hospital for treatment, for instance, the cost of your health insurance premiums may vary according to the range of choice of both NHS and private hospitals – levels of accommodation and the facilities and nursing services provided may vary quite widely.


Some policies may cover the use of drugs and other treatments not otherwise available on the NHS – although any such drugs are of course approved by the National Institute for Health and Care Excellence (NICE).

Additional coverage

  • Even with private health insurance quotes for more comprehensive forms of coverage, there may still be a wide range of additional treatments included;
  • Among these, for example, may be covered for certain types of psychiatric illness (distinguishing between those which are curable, which may be included, and those which are not – and therefore excluded);
  • Some of the more expensive plans may also include complementary and homeopathic treatments and therapies, nursing care at home, access to private ambulances, accommodation for you if your child is admitted to a hospital, and access to 24-hour helplines.

Securing good value for money when it comes to the purchase of medical health insurance typically involves a combination of choosing carefully the cover you are likely to need and the price you are able to pay for that cover in terms of the premiums charged.

These are the critical elements at the heart of your private health insurance quotes, which are likely to bear close scrutiny to ensure that you obtain cover to suit your particular, individual needs and circumstances. I understand the difficulty of starting a business, and health insurance is a priority for you so make sure you pick the right plan for yourself. If you have any questions, just leave a comment below!

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