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:
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.
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.
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.
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.