Private medical insurance in the UK provides faster access to treatment, shorter waiting times and greater choice over hospitals and consultants. With NHS waiting lists remaining a concern for many households, more individuals and employers are exploring private healthcare cover as a practical solution.
This guide explains how private medical insurance works, what it covers, typical costs and how to choose a policy that aligns with your health needs and budget.
Contents
What Is Private Medical Insurance?
Private medical insurance, often called PMI, is a policy that covers the cost of private healthcare treatment. It does not replace the NHS. Instead, it gives policyholders access to private hospitals and specialists when eligible treatment is required.
Policies typically cover acute medical conditions rather than long-term or chronic illnesses.
What Does Private Medical Insurance Cover?
Coverage varies by provider and policy level, but standard benefits often include:
- Consultant appointments
- Diagnostic tests such as MRI and CT scans
- Private hospital treatment
- Surgery and anaesthetist fees
- Cancer treatment in many policies
- Outpatient consultations
Higher-tier plans may also include mental health support, physiotherapy and access to digital GP services.
What Is Not Usually Covered?
Private medical insurance is designed for treatable, short-term conditions. It typically excludes:
- Pre-existing medical conditions
- Chronic illnesses such as diabetes or asthma
- Emergency treatment provided by the NHS
- Routine pregnancy and childbirth
- Cosmetic procedures
Always review policy documentation carefully before committing.
How Much Does Private Medical Insurance Cost in the UK?
Premiums depend on several factors:
- Age
- Location
- Medical history
- Level of cover selected
- Excess amount chosen
As a general guide, basic policies for younger individuals may start from around £40–£60 per month, while comprehensive cover for older applicants can exceed £150 per month.
Adding family members increases total premiums but can offer better value compared to separate individual policies.
Individual vs Family vs Company Policies
Individual Cover
Suitable for self-employed professionals, contractors or individuals seeking faster treatment access.
Family Cover
Bundles multiple family members under one policy, often with shared limits.
Employer-Sponsored Cover
Many UK employers provide private medical insurance as a workplace benefit. This is considered a taxable benefit in kind.
Employer policies can offer broader cover at reduced cost compared to individual plans.
Types of Underwriting
When applying for private medical insurance, you will choose an underwriting method.
Moratorium Underwriting
Pre-existing conditions are excluded initially but may become eligible after a set symptom-free period.
Full Medical Underwriting
You disclose your full medical history at application stage. Insurers confirm specific exclusions before cover begins.
Understanding underwriting is critical to avoiding unexpected claim rejections.
Benefits of Private Medical Insurance
- Reduced waiting times
- Choice of hospital and consultant
- Private hospital facilities
- Flexible appointment scheduling
- Access to new treatments in some cases
For many policyholders, the primary motivation is speed of diagnosis and treatment.
Is Private Medical Insurance Worth It?
The value of private medical insurance depends on personal circumstances.
It may be particularly suitable if you:
- Want faster access to elective surgery
- Prefer private hospital facilities
- Are self-employed and cannot afford long recovery delays
- Have employer-sponsored access at reduced cost
It may be less essential if you are comfortable relying solely on NHS services.
How to Reduce Premium Costs
- Choose a higher voluntary excess
- Select limited hospital lists
- Exclude outpatient cover if not essential
- Use a health insurance broker for comparison
- Review policies annually to avoid automatic renewal increases
Balancing affordability with adequate cover is key.
Private Medical Insurance and Self-Employed Professionals
For contractors and business owners, private healthcare can protect income by reducing time away from work. Some policies may qualify as allowable business expenses when structured correctly, though professional tax advice is recommended.
Fast access to diagnostics and treatment can reduce prolonged income disruption.
Private Healthcare vs the NHS
Private medical insurance does not replace the NHS. Emergency care remains NHS-based, and many complex treatments are handled through public healthcare services.
The main differences include:
- Waiting time reduction
- Hospital environment and facilities
- Choice of specialist
- Scheduling flexibility
Many UK residents use a combination of NHS and private services depending on circumstances.
Frequently Asked Questions About Private Medical Insurance
Does private medical insurance cover pre-existing conditions?
Generally no. Most policies exclude pre-existing conditions either permanently or for a defined period.
Can you still use the NHS if you have private insurance?
Yes. Private medical insurance complements rather than replaces NHS services.
Is private medical insurance tax deductible?
For individuals, premiums are not usually tax deductible. Employer-provided policies are considered taxable benefits.
Final Thoughts
Private medical insurance in the UK offers faster access to treatment, greater comfort and increased choice for eligible medical conditions. While it involves ongoing monthly costs, it can provide peace of mind and financial protection against unexpected healthcare delays.
Before purchasing a policy, compare providers carefully, review exclusions in detail and consider your long-term health needs. A well-chosen policy can deliver meaningful value, particularly for working professionals and families seeking greater healthcare flexibility.