How Much Does Private Health Insurance Cost?

We all know that getting sick is one of the worst things that could happen to us. While we would hope that the NHS could eventually provide the treatment we need, have you ever considered how much it would cost to get private health insurance arranged?

Strangely, while a serious health problem is something that a lot of people worry about, it is common for us only to do something about it once we are affected by sickness in one way or another. Having recently seen a close relative suffer a couple of months in a hospital due to illness, I decided that it was time to see how much private health insurance really costs. Given the importance of this issue and the fact that I used to work in insurance, I’m actually amazed that I had never seriously thought about doing it before now.

It Pays to Shop Around

As with any other type of insurance you take out, it would be a good idea to shop around and take the time to compare health insurance quotes from various companies before you settle on one. The type of cover and the cost vary fairly widely with different insurers, so it makes sense to get some quotes in order to see what the best price is. However, unlike with some other types of insurance it might not be quite as simple as typing in a few details and then seeing a figure appear on screen in front of you. The importance and relative complexity of private health insurance means that it is better to speak to an expert and get them to help you through the quote process professionally. Even if you have already got cover arranged, you might still want to see whether a fresh quote could give you a lower price or better cover for the same cost. Spending just a few minutes sorting this out in the right way will mean that you can arrange your cover effectively and then forget about it after that. As a ball park figure a comprehensive Private Healthcare Insurance Policy would start from around £500 per year for someone in their 30’s and this figure would rise depending on factors such as age, medical history and the number of people on the policy.

The Factors to Take Into Account

Ok, so we have already seen that you can’t simply put a figure on the cost of private medical insurance and apply it to everyone. This is because your personal circumstances are used to work out the cost of the insurance. So, what type of factors will be taken into account when you get a quote worked out? Your age is the basic starting point. As with life insurance and other types of health cover, the younger you are the less it will cost. This means that it makes sense to sort it out early so you can benefit from lower rates. Another factor that always makes a difference to any type of health insurance or life cover is whether the insured person is a smoker or not. Non smokers can expect to pay a good bit less than those who smoke, obviously due to the health risks associated with cigarettes. Being overweight or having a significant alcohol intake are other factors that can push up the premium. Where you live is also a factor for some insurance providers, as some areas have more issues with certain medical problems than others. As you can see, there are a lot of factors to take into account, meaning that there is no point trying to guess the cost or working it out on the basis of what someone you know already pays.

The Advantages

If you’re going to get a quote for private health insurance then you will want to know what kind of advantage having this sort of cover offers. The main one is generally that you are able to get access to private treatment that can help you get tests or treatment carried out quickly and professionally. Anyone who has had to wait a long time for treatment knows that being able to get things sorted out more quickly is something that can be invaluable. Even just being able to get hold of someone to talk over your problems can be a huge relief if you are worried about your health.

If you asked 100 people whether they would like private health insurance if money wasn’t an issue then I’m pretty sure that close to 100 of them would say that the benefits make it worthwhile. So why not go and get a quote to see whether you can afford it or not? It makes sense to spend a few minutes getting the figures and working out whether you can get this useful cover arranged for a price that is within your reach. You are unlikely to regret it in the future and you might just see it as being one of your best financial decisions ever.


It is impossible to pin down an exact figure for private health insurance but that is no reason for not finding out more details. You lose nothing by getting a quote done and seeing whether the cost is reasonable.

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2 Responses to How Much Does Private Health Insurance Cost?

  1. Alexis says:

    I have to go through private insurance and I do find it to be a bit more expensive than going through an insurance company through my work.

  2. I did a little experiment recently and went to my state’s private insurance exchange (ie, Obamacare). I selected insurance that would be similar to the insurance I get through my employer (they subsidize the insurance). I was just about fell out of my chair with sticker shock….we need to do *something* different in the US….
    Brock @CleverDude recently posted..How Much Does Medication Really Cost?My Profile

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