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Health
Insurance
Health Insurance that puts you first
Do you need a Health Insurance quote? Discuss your requirements with Matt Gibbs at Coversure Health to source the right policy for you from a range of leading UK Health Insurers. Coversure’s independent service means you can speak with an impartial advisor who can listen to your needs and help you secure peace of mind when it comes to sourcing your Health Insurance.
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Contact us to get your Health Insurance quote
What Products & Services can Coversure offer?
- Health Insurance for Individuals, Couples and Families
- Group and Business Health Insurance: Healthy and Happy employees
- Group Life Insurance: Supports employees and their families in case of death, with financial and practical assistance
- Group Income Protection: Support employees when they are unable to work due to illness or injury
- Group Critical Illness: A policy that can cover multiple employees at a business or organisation
- Group Scheme Leavers: For those that are leaving employment and wish to continue receiving their health insurance benefit
- Business Health Cash Plans: Can help pay towards medical treatments and services
What is Health Insurance?
Health Insurance, sometimes called private medical insurance, is an insurance policy that covers the costs of private healthcare, from initial diagnosis to treatment. You pay a premium that covers all, or some of the cost of treatment for acute conditions that develop after your health insurance policy has begun.
Various things can be covered such as:
- Private Consultations
- Treatment in Private Hospitals
- In the event of needing x-rays, tests or scans as an out-patient
- Physiotherapy for certain conditions
What are the core benefits of Private Health Insurance?
- Reduced Waiting Times
Health insurance can give you quick access to consultants, diagnostic tests and treatment. Getting seen quicker for medical conditions maximises your chances of a swift recovery - Specialist Treatments
With private health insurance, you could have access to cutting-edge technology, treatments, and drugs that may not be routinely available via the NHS - Hospital and Specialist Choice
All private medical insurers give you access to their networks of private hospitals in the UK, and you have the freedom to choose where your treatment takes place - Flexible Appointments
Unlike the NHS, where you may be given minimal appointment choices, private medical insurance gives you more flexibility about when your treatment happens - Private Rooms
If you’re admitted to hospital for treatment, you’ll stay in a private room, often with an ensuite bathroom, “hotel-like” facilities and relaxed visitation rules - Recovery and Aftercare
Your health insurance can also cover the cost of follow-up appointments after your initial treatment, giving you the best chance of a successful recovery
The best way to find out how much protection you need is to contact your local Coversure. They’ll be able to advise you as to what you need and create a package of Health cover for you.
Health Insurance FAQ
What is Private Medical Insurance (PMI)?
Private medical insurance (PMI) is a policy that provides coverage for private healthcare should you require medical treatment.
The primary advantage of PMI is access to private treatment and independent advice for conditions covered by the policy, potentially avoiding long waits often associated with the NHS. Rather than paying a lump sum, PMI can cover or contribute to the costs of diagnosis and treatment directly at private healthcare facilities, where possible.
Can I still use the NHS if I have private health insurance?
Yes, having private health insurance does not prevent you from accessing NHS services.
How much does private health insurance cost?
The cost of private health insurance can vary based on several factors, including your age, lifestyle, the terms of your policy, whether you include family members on your plan, and more. To receive an accurate estimate, it’s advisable to speak to an advisor who can offer a personalised quote.
Can I lower my premium?
Coversure Health can review your current coverage to ensure you’re not paying for unnecessary extras. It’s potentially possible to reduce costs by selecting a smaller hospital network, adding a waiting period to your plan, or opting for a higher excess.
What types of underwriting are available?
1. Moratorium – Refers to a policy where pre-existing conditions are automatically excluded from claims for a set amount of time.
Different insurers may have slightly different Moratorium wording. Whether you are purchasing business health insurance or individual health insurance, you will not have to fill in a health questionnaire when applying for cover. The underwriting will be done at the point of a claim. The insurer excludes any medical conditions where you have received medication, advice or treatment, or for which you have experienced symptoms, whether the condition has been diagnosed or not in the five years before the inception date of your private health insurance policy. These are called pre-existing conditions. Related conditions (those which are medically considered to be associated with a pre-existing condition) will also not be covered. However, if you have not had any such symptoms, treatment, medication or advice for pre-existing conditions or any related conditions for a continuous period of two years after the start date of your policy, the condition will become eligible for cover. This period is known as the Moratorium. Though the two-year moratorium is most common, some insurers offer other lengths of moratorium.
If you are looking for personal health insurance, you can compare moratorium quotes from a range of leading providers and an adviser will give you a call to assist you.
2. Full Medical Underwriting (FMU) – A health questionnaire is completed on the application form. After reviewing the completed questionnaire, whether this be for an individual or employee application, the insurer will let them know at the outset the basis on which they can offer cover, listing any pre-existing conditions they may have that would not be covered on the policy. If necessary, they may ask the member’s doctor for further information. It is important that joiners provide full and accurate information. It is important to focus on answering the questions accurately and completely to make sure that the policy provides valid cover.
3. Medical History Disregarded (MHD) – This method of underwriting is only available to business schemes with over 15 employees and can be very valuable. This method of underwriting allows for pre-existing conditions to be covered without medical exclusions but is still subject to the terms and conditions of the policy.
4. Continued Personal Medical Exclusions CPME (Switch) – Plans include continuous cover for pre-existing conditions and are as shown on your current insurer’s medical certificate. Exclusions shown on the current certificate will be continued (subject to the terms and conditions of the policy itself). As clients have had prior medical insurance he/she will be covered on CPME (Switch) terms. If there are any declarations made when answering the switch questions, exclusions may be applied. A copy of the current certificate(s) will be required with the application.
5. Continued Moratorium – The moratorium underwriting term of your current insurer will apply and the start date of the moratorium underwriting does not start again. Please note that the benefits and terms and conditions of your new policy will apply and it is only the dates of underwriting with your current insurer that will be matched. There must be no break in insurance cover since underwriting. A switch declaration will also need to be completed to facilitate the transfer. These are questions and criteria that need to be satisfied and allow the new insurer to assess your eligibility to access this method of underwriting. If the eligibility for transfer is not met, the insurer may refuse to offer cover on this form of underwriting.
Am I covered when travelling abroad?
Many of the policies we offer have the option to add holiday medical insurance in addition to your standard travel insurance. This will cover medical costs abroad, as well as lost passports, luggage, and trip cancellations.
What is typically not covered by Private Health Insurance?
It’s important to understand the exclusions in your policy before purchasing. Generally, the following are not covered:
- Chronic conditions
- Emergency treatments
- HIV/AIDS
- Fertility treatment
- Cosmetic surgery
- Pregnancy and childbirth
- Organ transplants
- Treatment for alcoholism or substance abuse
Can I get cover for pre-existing conditions?
Cover for pre-existing conditions may not be available, depending on the condition. If you have a pre-existing condition, it’s best to speak with one of our experienced advisors, as certain underwriting options may be more suitable for your situation.
Do I need to pay an excess if I make a claim?
Whether you pay an excess depends on the options you chose when setting up your policy. An excess is typically used to reduce premiums — the higher the excess you select, the lower your monthly payments will be. To find the best option for your needs, we recommend speaking with one of our expert advisors.
Business Health Insurance FAQ
Why should a small business invest in Health Insurance?
Small businesses can opt for Group Health Insurance for several reasons, including:
- Supporting Employees: A healthy workforce benefits the business, and showing genuine concern for the health and wellbeing of your staff fosters a positive workplace culture.
- Reducing Sickness Absence: Unlike larger businesses, the impact of staff absences can be much more significant for small businesses. Reducing absence rates helps maintain productivity and ensures smooth operations.
- Meeting Increased Demand: Since the pandemic, demand for health insurance has surged. Employees want assurance that they’ll have access to essential healthcare when they need it most.
- Boosting Recruitment and Retention: Offering health insurance is a strong incentive for staff and is increasingly expected across various sectors. To attract top talent, having private health insurance as part of your employee benefits package can make a significant difference.
- Taking Advantage of Innovations: Health insurance policies have evolved over the past five years, now offering features such as virtual GP consultations and mental health support services, in addition to standard treatment options.
How much does Business Health Insurance cost?
The cost of business health insurance can vary depending on several factors, such as:
- Industry type
- Employee count
- Level of coverage selected
- Employee health history
- Average age of employees
As with any insurance, policies are tailored to meet your company’s needs. For example, you may only want to cover senior employees or those with a minimum tenure. If you’re comparing policies or seeking advice, it’s best to consult us, as we can offer expert guidance over a general broker or financial adviser.
At Coversure Health, we’ll assess the market for you to ensure you receive the most appropriate policy for your business. Remember, we are compensated by the insurer, so the premium you pay remains the same whether you use a broker or not.
Can small and medium enterprises (SME’s) take out Small Business Health Insurance?
Absolutely! We’re proud to offer Small Business Health Insurance tailored to small and micro-businesses. Our dedication to helping the small business community has earned us amazing reviews. From solo entrepreneurs to SMEs and larger organisations, we have solutions that fit all types of businesses.
Small Business Health Insurance is our core focus, and we have options with insurers to provide competitive cover for small and micro-businesses in the health insurance market.
How do medical histories affect premiums? (Medical Underwriting)
Your business may have employees with various medical conditions. Will they be covered by the policy, and how will their health history affect premiums?
Medical underwriting determines the coverage of pre-existing conditions and can affect premiums. There are three types of underwriting for Company Health Insurance policies:
- Moratorium Underwriting
This is the quickest way to set up a policy, as staff don’t need to disclose their medical history. However, conditions and treatments from the past five years may not be covered initially. If there are no symptoms or treatments for those conditions within two years, they may then be covered. - Full Medical Underwriting
This requires full disclosure of employees’ medical histories, usually through a medical questionnaire or GP report. The insurer then decides if any exclusions apply to specific conditions. This allows you to understand exactly what is and isn’t covered from day one. - Medical History Disregarded (MHD)
This is the most favourable underwriting option, where insurers don’t require medical history from any employee, and all pre-existing conditions are accepted. However, this option is typically only available for larger businesses (usually with 15 employees or more) and comes with a significantly higher premium.
Is Group Private Medical Insurance taxable?
Many businesses are misadvised on the tax implications of Business Health Insurance. Under current HMRC rules, Business Health Insurance is usually considered an allowable business expense, and your company can receive tax relief on premiums at the end of the year.
However, insurance provided by the employer is considered a P11d taxable benefit for employees. Employers must report these benefits to HMRC and complete a P11d form. Employees should be made aware of their tax liability for this benefit.
At Coversure Health, we help guide businesses in communicating this liability to employees and ensure full compliance. While we specialise in health and protection, we recommend consulting an accountant or tax specialist for detailed tax advice.
How can I arrange a Business Health Insurance policy?
Coversure Health offers a free comparison service for arranging a new Business Health Insurance policy. We don’t charge any fees as we are paid by insurers.
To arrange your policy, we’ll first conduct a business fact-find to understand your needs and business profile. Every business is unique, so we ensure the policy reflects that. After assessing your requirements, we conduct a comprehensive market review, comparing insurers’ pricing, service ratings, and claims payout records. Once you’ve reviewed our report, we’ll discuss any adjustments and finalise your decision.
Does Company Health Insurance exclude anything?
As with all insurance policies, there are exclusions to be aware of when investing in Company Health Insurance. Common exclusions include:
- Chronic conditions: Long-term conditions that cannot be cured are typically not covered by health insurance.
- Pre-existing conditions: Unless you choose a medical history disregarded policy, pre-existing conditions may be excluded for a set period or indefinitely.
- Non-participating hospitals: Your insurer will provide a list of hospitals where treatment can be received. Treatment at a hospital not included in the policy may not be reimbursed.
Can I continue my Company Health Insurance after leaving my job?
If you’ve been covered under your employer’s Business Health Insurance policy, you may be able to transfer to a personal plan using a health insurance continuation option. Most insurers provide up to 30 days after leaving your current policy to make the transition, but it’s recommended to arrange this during your notice period to avoid any gaps in coverage.
Need a Health Insurance quote?
If you’d like a Health Insurance quote from Coversure Health, start your quote here. Our independent brokers will search their markets to find you the right policy at the right price to keep your business protected.
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* Policy information is correct at the time of writing. Policy details, limits, and exclusions are subject to insurer’ changes. When taking out a policy, your local Coversure office will be able to advise you of the specifics of your cover.
