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  • FIRST POST
    • ARH
    • By ARH 15th May 17, 11:53 AM
    • 13Posts
    • 4Thanks
    ARH
    Private medical
    • #1
    • 15th May 17, 11:53 AM
    Private medical 15th May 17 at 11:53 AM
    I'll soon be moving jobs and becoming a higher rate tax payer, which I'm very happy about The new job comes with private medical insurance, which is worth c.£1,500 a year (for me as a single person) so I understand I'll have to pay c. £600 in tax.

    This seems like a lot. £600 seems like plenty to spend on anything that might happen to me e.g. seeing a physio if hurt myself and didn't fancy the NHS waiting list. After all, if anything serious happens, your not covered and on the NHS anyway.

    I'm considering opting out of the medical cover. What do you think?

    Thanks,
Page 1
    • Undervalued
    • By Undervalued 15th May 17, 1:41 PM
    • 3,038 Posts
    • 2,779 Thanks
    Undervalued
    • #2
    • 15th May 17, 1:41 PM
    • #2
    • 15th May 17, 1:41 PM
    Well, it is like any insurance....

    If you have a big claim then you are glad you had insurance.

    If you don't you begrudge having paid the premium!

    Personally, given the state of the NHS, I'd pay just over two quid a week for private medical cover without hesitation!
    • TELLIT01
    • By TELLIT01 15th May 17, 2:10 PM
    • 3,693 Posts
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    TELLIT01
    • #3
    • 15th May 17, 2:10 PM
    • #3
    • 15th May 17, 2:10 PM
    After all, if anything serious happens, your not covered and on the NHS anyway.

    I'm considering opting out of the medical cover. What do you think?

    Thanks,
    Originally posted by ARH
    Can you explain why you think this? I required major surgery on both knees and my private medical cover paid the costs from initial consultation with the specialist, through the operation, room and follow up physio. The operations alone would have cost several thousand pounds each.
    You may also find that a cash payment would be made to you in the event of you requiring NHS in-patient treatment, for example following an accident of some kind.
    The great benefit of private cover is the potential massive reduction in waiting time for operations. My brother-in-law is currently waiting for hip replacement on the NHS, his consultant told him last December that it was an urgent case and should be done by the end of January. He has just been given a date of the end of June. If he'd had private cover it would have been done within a couple of weeks.
    • pimento
    • By pimento 15th May 17, 2:19 PM
    • 5,162 Posts
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    pimento
    • #4
    • 15th May 17, 2:19 PM
    • #4
    • 15th May 17, 2:19 PM
    Another example as to why you should opt in.

    My husband had lung cancer treatment privately. They did his chemotherapy at home. They included the expensive drugs that the NHS wouldn't give him because of the cost. He never had to wait to see his consultant. If we emailed his consultant on a Sunday, he replied.

    I never paid a penny but saw every bill and he had about £100,000 worth of treatment.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
    • anamenottaken
    • By anamenottaken 15th May 17, 3:47 PM
    • 3,961 Posts
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    anamenottaken
    • #5
    • 15th May 17, 3:47 PM
    • #5
    • 15th May 17, 3:47 PM
    Well, it is like any insurance....

    If you have a big claim then you are glad you had insurance.

    If you don't you begrudge having paid the premium!

    Personally, given the state of the NHS, I'd pay just over two quid a week for private medical cover without hesitation!
    Originally posted by Undervalued

    How about almost £12/week?
    • Undervalued
    • By Undervalued 15th May 17, 3:55 PM
    • 3,038 Posts
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    Undervalued
    • #6
    • 15th May 17, 3:55 PM
    • #6
    • 15th May 17, 3:55 PM
    How about almost £12/week?
    Originally posted by anamenottaken
    Sorry, quite right!

    I meant to say just over two quid per (working) day!
    • engineer amy
    • By engineer amy 15th May 17, 4:59 PM
    • 596 Posts
    • 1,102 Thanks
    engineer amy
    • #7
    • 15th May 17, 4:59 PM
    • #7
    • 15th May 17, 4:59 PM
    I'm a big supporter of keeping the medical insurance - a few hundred quid per year in tax is nothing compared to the relief of stressing over NHS waiting lists and speed of test results.


    In my case, I have Prudential Vitality. It costs £470 per year, I pay £14 per month through my wages and the company pays the rest, I pay tax on the cash benefit of £302. It covers nearly everything, plus has worldwide travel cover.


    In 2013 when I thought I was having a heart attack every single time I ate anything, I went to the hospital and was told I had gallstones. One quick call to Vitality and I had a private consultation and ultrasound scan that evening, and was booked in for keyhole surgery 9 days later. An acquaintance was told she would be waiting 12-15 months on NHS surgery. The cost of this private surgery and recovery in a private room was in excess of £7000, and I didn't have to pay a penny.


    it is well worth a few extra pounds in tax for me.
    You are right in that in the event of an emergency, you will still be taken to an NHS A&E department and get the same standard of treatment as Joe Public, but if you then require follow up procedures, treatment, physio or anything else as a result of the accident, you can call on the private medical insurance and get to the front of the queue.


    The level of cover you get will depend on how much you (or your company are willing to pay for) - mine doesn't include dental as I already have a suitable dental plan in place. Its also worth asking the question on what basis you are to be insured - medically underwritten, continuous cover or exclusions. Most medical insurers will require you to fill out a health questionnaire and disclose anything you have received treatment for in the last X years. They then may decide either to exclude any future treatment for that same ailment for the next X years, or charge an additional premium to include it.
    If you are relatively fit and healthy, then this should be no issue for you.
    A colleague recently decided not to join our plan as she had a number of health issues. The cost of including these treatments was prohibitively high, but by excluding them, what was covered was not worth it, in her opinion.
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    • somethingcorporate
    • By somethingcorporate 16th May 17, 11:59 AM
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    somethingcorporate
    • #8
    • 16th May 17, 11:59 AM
    • #8
    • 16th May 17, 11:59 AM
    We have private healthcare - used it quite a few times for a few minor things. Worth every penny.

    Are you sure £1500 is right? Ours is about that for family cover - personal was closer to £1200.

    As per the above you get cash payments for NHS treatment and overnights which kind of covers you in both scenarios.
    Thinking critically since 1996....
    • jobbingmusician
    • By jobbingmusician 16th May 17, 12:14 PM
    • 18,611 Posts
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    jobbingmusician
    • #9
    • 16th May 17, 12:14 PM
    • #9
    • 16th May 17, 12:14 PM
    And another thought.

    If I were your employer, and offered you free private medical insurance, I would expect a speedy return to work if you WERE sick. If you got sick, had to wait for NHS treatment, and were off work in the mean time, I would apply the absence management procedure without much mercy. After all, you would be costing me money and sick pay due to your refusal of the work scheme. So, although I appreciate that you are young, you should be looking at this as employment insurance to some extent, as well as health insurance......
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    • *~Zephyr~*
    • By *~Zephyr~* 16th May 17, 12:44 PM
    • 576 Posts
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    *~Zephyr~*
    And another thought.

    If I were your employer, and offered you free private medical insurance, I would expect a speedy return to work if you WERE sick. If you got sick, had to wait for NHS treatment, and were off work in the mean time, I would apply the absence management procedure without much mercy. After all, you would be costing me money and sick pay due to your refusal of the work scheme. So, although I appreciate that you are young, you should be looking at this as employment insurance to some extent, as well as health insurance......
    Originally posted by jobbingmusician

    This is a very good point. Employers don't offer medical insurance just for the fun of it - it costs them a substantial amount of money each year but generally they do it to minimise absenteeism.
    • seashore22
    • By seashore22 16th May 17, 1:17 PM
    • 499 Posts
    • 957 Thanks
    seashore22
    I'm also intrigued as to why you think you wouldn't be covered if anything serious happened.

    My husband was diagnosed with cancer 8 years ago and has been in and out of hospital on a regular basis ever since. I dread to think how much it has all cost and we haven't paid anything for this fantastic care.

    As a side note, we were perfectly happy to go with the NHS, but an administrative error meant that we had to speed things up and use our health insurance. My experiences of the NHS have always been very good.
    • *~Zephyr~*
    • By *~Zephyr~* 16th May 17, 1:39 PM
    • 576 Posts
    • 1,128 Thanks
    *~Zephyr~*
    I'm also intrigued as to why you think you wouldn't be covered if anything serious happened.
    Originally posted by seashore22

    Yes, that bit confused me too. Hopefully the OP will come back and clarify things. I assume they mean anything that sees them treated as an emergency in A&E.

    My Dad was diagnosed with an Aortic Aneurysm and frankly, if it wasn't for his private medical cover, he wouldn't be around today.

    Our company policy has covered two instances of breast cancer, both had their chemo at home which was a much nicer experience than having to schelpp down to the hospital every time (if anything about chemo can be referred to as "nicer"!).

    Another colleague had a knee replacement and it covered all his treatment, physio and consultations. £11.5k worth.

    Luckily, I've not had to use my policy in the 5 years I've had it, but I certainly don't begrudge the £13 a month it costs me in tax.
    • martinsurrey
    • By martinsurrey 16th May 17, 4:32 PM
    • 2,975 Posts
    • 3,608 Thanks
    martinsurrey
    Another example as to why you should opt in.

    My husband had lung cancer treatment privately. They did his chemotherapy at home. They included the expensive drugs that the NHS wouldn't give him because of the cost. He never had to wait to see his consultant. If we emailed his consultant on a Sunday, he replied.

    I never paid a penny but saw every bill and he had about £100,000 worth of treatment.
    Originally posted by pimento
    And another.

    I was a member in my mid 20's when a lot of my peers opted out.
    A family member was diagnosed with a rare heart issue, which they thought was genetic.

    Me and my brother were both advised to go and see specialists.

    Him on the NHS, he waited for 6 weeks for an appointment to get referred to the specialist, took him 6 months to get sorted, which was fine medically but did his stress levels no good.

    I was in front of one of the UK's leading specialists in the condition within 4 days, and all sorted within a month.

    Worth its weight in gold WHEN you need it.
    • jamesperrett
    • By jamesperrett 18th May 17, 9:43 PM
    • 647 Posts
    • 317 Thanks
    jamesperrett
    Not sure how far over the higher rate threshold you are, but if you are only slightly over you could always think about bumping up your pension contributions to keep you out of the higher rate band.
    • AylesburyDuck
    • By AylesburyDuck 19th May 17, 1:58 PM
    • 656 Posts
    • 1,488 Thanks
    AylesburyDuck
    Another example of it being a good thing,
    Husbands perks is FAMILY health cover, in the 4 years we've had it, I've had my gallbladder out, Daughters had a total thyroidectomy (the expensive bloodless type), she's also had an exploratory laparotomy (sp), and husbands had knee physio.
    Definitely our moneys worth.
    ,
    Fully paid up member of the ignore button club.
    If it walks like a Duck, quacks like a Duck, it's a Duck.
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