Private Medical Insurance 101
Once you decide that you need a private medical insurance, one of the first things that you need to do would be to ask for private medical insurance quotes. Aside from asking for quotes, however, you should also make sure that you understand how this type of policy works. Here are some useful information about private medical insurance which should help you in having a better understanding of how it works and how it can cover you.
1. Pre-existing conditions may be covered.
Although in the US, where health insurance plans are more widespread, pre-existing conditions are usually not covered, in the UK, there are many policies which use moratorium underwriting. Moratorium underwriting means that although you may not be covered at the start of your policy for a condition that you have had in the past, you may be able to get coverage for it after you have had the policy for at least two years. Aside from this, you can also be covered for a previous condition that you have suffered, provided that you had it at least five years before applying for the policy and have already been declared as cured by a physician.
2. Chronic conditions are usually not covered.
This is something important to remember when looking for a policy, especially if you think you have a higher chance of being diagnosed with a chronic illness or condition. However, you can be covered by getting a comprehensive medical insurance policy which covers critical conditions or a critical illness cover which is specifically meant for providing coverage for various chronic conditions. Some examples of critical or chronic conditions include asthma and HIV. These conditions usually last for a long time or even permanently and the methods of treatment used are often for the relief or the alleviation of symptoms and not for completely curing or treating the disease.
3. If you already have a policy, switching to another insurer does not mean that the period for the excluded pre-existing conditions would be starting over.
Because most insurance companies today make use of a system called Continued Personal Medical Exclusion, policyholders have the opportunity to check out what is being offered by other insurance companies to make sure that the policy they have comes with the best available coverage at the best available price.
