1Q - Why should I have private medical insurance?
A - To help alleviate pressure upon the NHS, thereby giving access to consultation and subsequent hospitalisation without the all too frequent many months of waiting to be referred by the GP to a consultant, whilst helping to alleviate financial constraints which can so easily lead to misdiagnosis, coupled with a reduction in the all too familiar reports of NHS hospital waiting list times.
2Q - In considering taking out Private Healthcare, having had previous health issues, will these be covered by the health insurer?
A - Private Healthcare is primarily aimed at insuring against new conditions that may arise after taking out cover, however if a condition has not reoccurred in the five years prior, it can be covered from day one of taking out cover, and even if it is preexisting within the previous five years, if it can go two consecutive years without any further reoccurrence whilst on cover, it can subsequently still be covered at that point.
3Q - Being currently insured, I appreciate that I may be able to increase cover whilst reducing costs, however I’m reluctant to consider moving insurers as I’m concerned that I’ll stop being covered for health conditions that I’ve claimed for and would currently be continued to be covered for - Would a new insurer continue to cover these conditions?
A - Being keen to encourage transfer of policies, the U.K. insurer’s underwriting dept’s do indeed offer favourable ‘Switch’ terms, known as C.P.M.E., being an acronym for Continuous Personal Medical Exclusions, as long as the current insurer’s Certificate of Cover is provided, which would detail any current health exclusions that were applied prior to their inception, which can then provide the new insurer with the platform to continue to provide ongoing cover for health conditions that had actually previously been claimed for.
4Q - Having an individual policy, running my own business, I’ve heard that it could be cheaper with more tax advantages, transferring to a company policy. If this is so, what is the minimum number of employees needed for a company policy?
A - Although you can have a company policy with just 1 or 2 employees, the most popular U.K. company paid healthcare policy is for 3-5 employees, whereby typical premium reduction is 30-50% compared to individual policies, with the more employees added further marginally reducing premium. The premium, although treated as a P11d benefit in kind for the employee, can then be offset against corporation tax by the company, as opposed to having been paid for out of taxed income for individual policies.
5Q - What are some ways in order to reduce premium?
A - Reduced Outpatient module - limiting the number the consultant appointments available / Excess - apply or increase / NHS 6 Week wait - relying upon the NHS for up to 6 weeks from consultant referral till hospital treatment as well as reducing the hospital choice available.
6Q - As well as the immediacy benefit what are some of the other benefits of Private Healthcare?
A - As well as the primary immediacy benefit, thereby ensuring a return to the best of health as soon as is physically possible from the very best surgeons available, private hospitals offer the privacy of your own room, with an overall environment more conducive to optimum surgery recovery timeframes. In financial terms, the more costly cancer drugs, which simply aren’t always available within the N.H.S. as they often fall outside of the N.I.C.E. guidelines, can be of particular benefit to the Private Healthcare client.
7Q - Being called Surrey Circle Health does that mean that you only have Surrey based clients?
A - Absolutely not! We are based near Woking in Surrey however have Clients from all over Southern England, predominantly within the Greater & Outer London as well as Home County areas.
8Q - If I’m very pleased with the service that Surrey Circle Health provides and therefore subsequently wish to recommend to family, friends and colleagues is there any sort of incentive for doing so?
A - Indeed there is! This brokerage has been built up upon personal recommendations and actually relies upon such. Any Client introduced generates a £100 payment to the introducer.
9Q - Is it worth the hastle and faff of transferring insurers?
A - The logistics of transfer is a half hour review discussion, followed by the provision of up to half a dozen quotes by SCH, which routinely offer premium savings of between 20 - 50% for similar and often more comprehensive cover. SCH then subsequently complete the online application process, keeping your underwriting fully intact, followed by your new policy documents dropping into your in-box within 5/10 days, incorporating a statutory FCA regulated 14 day cooling off period, thereby protecting you the consumer so that you can fully review your new policy before it effectively goes into force.