Health insurance for people over 70 is as valuable as ever, as it can help you avoid some of the worst of what's happening in the NHS. But, getting health insurance over 70 is a minefield, so, our team of private medical insurance experts have created this comprehensive guide explaining your options, who the best providers are, how to get a policy and save money.
Health insurance for those over 70 is the same as a plan for someone younger. However, there are often restrictions to be mindful of, alongside the need for a more careful approach to medical underwriting.
At its core, over-70s health insurance covers the cost of treatment in private hospitals should you need it. You pay a monthly premium; in return, your health insurer will cover the cost of inpatient and day-patient treatment for eligible conditions.
There are numerous ways to extend your health insurance plan, such as by adding out-patient treatment and diagnostic testing, dental cover, and more.
Primary differences with health insurance if you're over 70:
There's often confusion about health insurance and whether health cash plans, like those from Benenden or SimplyHealth, are insurance products. To help you know the difference, here's a brief explanation:
Health insurance covers unpredictable health conditions that typically require hospital treatment or surgery. Private health insurance often extends to other services such as physiotherapy and mental health care, but crucially, it covers unpredictable health issues.
Health cash plans help you budget for routine medical expenses such as trips to the dentist, opticians, audiologists and sometimes physiotherapy. These plans aren't insurance, as they're there to cover predictable costs.
We have a detailed guide explaining why health insurance gets more expensive as we age. But in short, it's because we're at a higher risk of developing medical conditions as we age. Treatment also becomes more complicated and costly due to patients often having comorbidities that have to be considered. Finally, recovery from treatment often takes longer, again pushing the cost of claims up for insurers.
The benefits of private medical insurance for to the over 70s are significant and go far beyond simply faster treatment:
*Pre-diagnostic consultations are typically only available if you opt for out-patient cover
All health insurance in the UK is designed to cover new, acute medical conditions that come on after taking out a policy. Basic policies will usually cover the cost of treatment in private hospitals once you are diagnosed, with more comprehensive policies including out-patient cover so that you can go private for diagnostic testing and consultations, too.
A note on cancer and mental health conditions
Both cancer and mental health conditions can share characteristics with both acute and chronic conditions. However, they are usually covered so long as you have the appropriate policy options.
While each insurer will have a list of exclusions, which is well worth looking at, the two exclusions of particular note are chronic and pre-existing medical conditions. Chronic conditions are those that require management and where a full recovery often isn't possible, for example diabetes and asthma.
Pre-existing conditions are things you've suffered from or sought treatment for in the past. With Moratorium underwriting, anything in the past five years will automatically be excluded, whereas with Full Medical Underwriting, your insurer will be more specific about your exclusions.
Underwriting is the process your insurer goes through to assess the risk of insuring you, and with private medical insurance, you usually get a choice between several types, moratorium, full medical, and switch underwriting.
Moratorium underwriting is often the simplest option when getting a new policy, as your insurer will ask only a limited number of questions about your medical history. With moratorium underwriting, your insurer will usually automatically exclude any health conditions you've suffered from in past five years, including those you've had treatment for, or merely sought advice about. If you get a policy and don't experience symptoms of a previously excluded condition for two years, it'll be covered in future years.
Full medical underwriting takes a different approach. You'll need to complete a medical questionnaire about your history of illnesses, injuries and previous conditions. Your insurer will then use that information to provide you with a list of exclusions, and you'll have the choice as to whether you'd like to continue and take out the policy, or not. Unlike moratorium underwriting, once you have exclusions on your policy from full medical underwriting, it's unlikely to be removed unless you were to negotiate it with your insurer.
Benefits of full medical underwriting:
Finally, if you already have a health insurance policy and you're looking to switch to a new provider, you'll have the option to consider "switch" underwriting. With this type of underwriting, you can move to a new insurer while preserving your current list of exclusions, i.e. minimising the risk of more being added. Each insurer has different switch criteria you'll need to meet to benefit, and it won't be an option for everyone.
Our team of private healthcare and insurance experts regularly review the market of UK health insurance companies to help you better understand how they all compare. We look at policy benefits, limits and restrictions, costs and customer satisfaction to provide a balanced view of the private healthcare market.
In 2024, our top private health insurance providers for over 70s are:
Our latest 2024 research found that the average cost of private health insurance for a 70-year-old was £141 per month for a plan without out-patient cover and £203 with out-patient cover.
These prices are purely indicative and depending on where you live, your cover options and other factors your premiums could be higher or lower.
When you start looking at private health insurance cover there are several key considerations and decisions you'll need to make. Here we summarise some of the main ones to be mindful of, and to raise with your broker come the time you speak with one.
Health insurance is a relatively complicated financial product, so we always recommend you speak with a health insurance broker or financial adviser before buying a policy and getting expert advice. They don't charge you for their service; you'll pay the same, and sometimes less than you would go direct, and you'll have an expert on hand to answer any questions you have. If you compare health insurance with myTribe, we'll introduce you to one of our highly-rated, fully vetted health insurance brokers. Each of those we work with is excellent, and we continually get glowing feedback from people about them.
Disclaimer: This information is general and what is best for you will depend on your personal circumstances. Please speak with a financial adviser or do your own research before making a decision.
In short - yes, over 70s can get private health insurance. However, what's covered will depend on your medical history, with at least conditions you've sought treatment for or had advice about in the past five years excluded, which is the same regardless of your age.
We think it is, yes. The NHS is still struggling with close to record numbers of people waiting for medical treatment, and while the new Labour Government plan to fix it, most experts agree it'll take time. Private health insurance is an annually renewable product, so you could take it out now, to protect yourself from the current issues in the NHS, but then cancel it in a few years if all goes to plan and the NHS get's back to it's former strength.
Our research has shown that Bupa, Vitality, and The Exeter are all well-priced for 70-year-olds, but you may find that another provider is cheaper when you compare quotes.
Based on pricing, plan limits, customer reviews and policy benefits, the top five private health insurance companies for senior citizens are Bupa, The Exeter, Vitality, Axa Health and Saga.
No, most insurers will automatically exclude any pre-existing conditions you've suffered from in the five years before taking out a policy if you opt for moratorium underwriting.
Yes, health insurance can provide peace of mind and financial security for seniors, especially while waiting times are still extended in the NHS.
No, senior health insurance is usually the same as it would be for younger people, albeit there may be more restrictions or joining criteria when you get the policy.
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*Based on 461 quotes between 01/22-01/23