Self Employed Health Insurance

Self-employed health insurance provides people that work for themselves an affordable way to access private healthcare. With the UK’s ever-increasing number of self-employed individuals, both sole traders and directors of companies rarely receive sick pay, so getting better and back to work quickly is vital.
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self-employed health insurance
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Aviva Logo Vitality LogoAXA PPP Healthcare LogoBupa LogoThe Exeter Logo
WPA LogoFreedom LogoCS Healthcare LogoGeneral Medical Logo
Aviva LogoVitality LogoBupa Logo
The Exeter LogoAXA PPP Healthcare Logo
WPA LogoGeneral Medical Logo
CS Healthcare LogoFreedom Logo
Aviva LogoVitality LogoAXA PPP Healthcare LogoBupa LogoThe Exeter LogoWPA Logo
CS Healthcare LogoFreedom LogoGeneral Medical LogoHealth Online Logo

Who can benefit from self-employed health insurance?

Whether you’re a director of a limited company or a freelancer, private health insurance provides an extra level of protection and numerous benefits should you ever need to call upon it. The most common users of self-employed health insurance are:
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    Company directors
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    Freelancers
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    Tradespeople
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    Contractors
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    Consultants
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    Entrepreneurs
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    Actors and musicians
Self-employed health insurance

Benefits of health insurance for someone who is self-employed

Private medical insurance comes with a variety of benefits, some of which will be unique to your policy and provider, with others being more broadly applicable to everyone. Here are what we consider the main benefits for a self-employed individual:
  • 1
    Be seen and treated faster - avoid delays on NHS waiting lists and get the treatment you need quicker.
  • 2
    Be treated at a time that suits you - choose when and where you are treated, perfect if you have a busy schedule.
  • 3
    Access to the latest drugs - receive treatments which are cost-prohibitive on the NHS.
  • 4
    Choice of consultants - have a bigger say over who is treating you.
  • 5
    Privacy in hospital - get a private room when you are in hospital, with relaxed visiting hours.
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What is covered by health insurance for the self-employed?

What is and isn’t covered by your health insurance will depend on your own medical history and the policy options you have chosen. Broadly speaking though, you can expect any policy to cover the treatment costs relating to acute conditions where an overnight stay in hospital is required. Chronic conditions (those which cannot be cured), aren’t usually covered and outpatient treatment (those which don’t require an overnight stay), will only be included in more comprehensive policies.

Self-employed medical insurance plans

When choosing your medical insurance plan there will be many options to consider, but most significantly, you will be choosing between a budget, mid-range and comprehensive policy.

The most affordable self-employed health insurance will be a budget policy, which typically only includes inpatient treatments and often has a limited hospital list. A mid-range policy will usually provide some level of outpatient treatment with comprehensive being the most, inclusive.

All of the leading insurers allow you to adapt your policy to your own requirements, which can be very useful when trying to make your plan more affordable.
Self-employed medical plans

How much does health insurance cost for someone who is self-employed?

The cost of your self-employed health insurance cover will vary significantly based upon a number of variables. Some of these will be within your control, while others will be outside of it. Some of the primary factors affecting the cost of your policy include:

  • Whether you have outpatient cover on the policy
  • Where you are located and your chosen hospital list
  • Your age, medical history and smoking status
  • Any additional extras you add to the policy
  • Whether you have an excess on the policy
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If you are between the ages of 30 and 40, are of good health, a non-smoker and live outside of London, you can expect to pay anywhere from £60-£90 per month for a comprehensive policy.

Lowering the cost of self-employment health insurance

There are lots of ways you can lower the cost of your private health insurance without losing out on cover.

Add an excess

Adding an excess is the most popular way to make a policy more affordable, without sacrificing the level of cover you have on the policy. A word of caution with excesses though, always try to keep them fairly low and affordable, as no-one appreciates a big bill when they are unwell.

Reduce your hospital list

Most policies will include a hospital list that has locations where you could receive treatment nationwide. By limiting your hospitals to those most local to you, and avoiding those in expensive locations such as central London, you can reduce the cost of your policy without losing out on cover.

Add a 6-week wait

Finally, our least favoured option would be to add a 6-week wait to the policy. This means you agree that if the waiting time is 6 weeks or less on the NHS, you will be treated on the NHS, not privately. In our opinion, this compromises some of the benefits of private medical insurance and therefore we wouldn’t usually recommend it.

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Self-employed health insurance FAQs

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