It’s a question I get asked at least once a week, so I thought it was about time I put pen to paper – or fingers to keyboard. The answer? Probably not as much as you think. In fact, some of my clients pay as little as £5 per month and that keeps them protected for the entire year! Here, I look at the average cost of private health insurance in the UK, as well as how you can bring your premiums down.

Remember, if you’re looking for insurance to protect your health, life, or income, Moore Health & Protection can help. That’s what we’ve been doing for over 20 years now and there’s no fee payable when you get in touch. 

The Association of British Insurers says that over 1.6 million UK households have private health insurance and it’s believed that the average cost is around £85 per month. But, at Moore Health & Protection, many of our clients are enjoying the benefits of health insurance for only a few pounds a month!

In all honesty, the average price listed above is just a number. It’s very difficult to say exactly how much an insurance policy will cost as it depends on several factors. Two of the biggest factors that can affect the cost of private health insurance are your personal circumstances and the level of cover you choose. Keep scrolling to find out more.

What impacts the cost of private health insurance?

Private health insurance cover is designed to protect you which is why providers need a whole host of personal information in order to tailor their quote. This personal information can impact the overall cost of your insurance but it’s important that you never lie about any information provided as it could make the insurance void if a claim is needed. 

• Age – This is one of the biggest factors that determines insurance costs. Simply put, the older you are the more likely health insurers believe you are to get ill or injured.
  
• Address – Your postcode can also affect health insurance quotes as well as the private hospital that you choose to receive treatment in. Areas around London are likely to be more expensive compared to rural locations.
  
• Smoking – Some health insurers include a premium if you smoke because it means you’re at risk of more health problems, and therefore could require additional medical treatment.
  
• Health – You’ll need to give details of any previous and existing conditions. Some won’t be covered, others may increase the cost of your premiums if it’s believed the condition may increase your risk of other illnesses.
  
• Claim history – If you’ve had private healthcare insurance before and have made frequent claims, your provider may increase the price if they think you’re going to claim more often. Think of it like the opposite to a no claims discount in the case of car insurance.

Making health insurance costs more affordable

If you’re considering private medical care, you may be pleased to know there are a few different ways that you can make your individual policy more affordable. 

• Prioritise yourself – If you can show health insurers that you live a healthy lifestyle, and don’t smoke, you’ll be less likely to become ill or injured and could find that it helps to reduce the cost of your private health insurance.
  
• Pay annually – Some providers offer a discount on your private medical insurance if you pay in one lump sum rather than monthly installments.
  
• Increase the excess – When we talk about excess, it’s the amount that you would need to pay for diagnosis or treatment before your health insurance policy kicks in. The higher your excess, the less your provider will be required to pay and usually the cheaper your premiums. 

Another tip when it comes to finding private health insurance is to only take out what you need. You may also find that covering multiple people in your family brings the cost down. Of course, if you need any help with this, Moore Health & Protection can help you to weigh up your requirements and options. 

Get more for your money with Moore Health & Protection

It’s always nice to know exactly what you’re getting for your money, and we work with a range of health insurance providers who don’t just cover you for the costs of private medical treatment and hospital care. Nowadays, you can get support for mental health, you can enjoy 24/7 direct access to medical professionals, and many will even help you return to work if you’ve faced long-term absence because of an accident or illness. 

For over 20 years, we’ve been helping people like you to buy private health insurance that meets their needs and budget. And, if we find a cheaper option than the one you’re already on, we’ll let you know. It’s also completely free to get in touch so why not arrange a chat today? You’ve got nothing to lose and so much to gain. 

Moore Health & Protection is a trading style of Tony Moore which is an appointed representative of The Right Mortgage Limited. The Right Mortgage Ltd is registered in England and Wales no. 08130498. Registered Address: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH.