Personal Medical Insurance

What Is PMI?

PMI, also known as Private Medical Insurance, is a type of coverage that helps cover the costs of private healthcare services. It’s like having a VIP pass to medical care! You pay a monthly or annual fee (premium) to your insurance provider. In return, your insurance policy covers some or all of the expenses related to private treatments and healthcare services.

How It Works

You receive private healthcare (such as consultations, tests, surgeries, or specialist appointments). Afterward, you make a claim to your insurance provider for reimbursement. PMI typically covers new conditions that arise after your policy start date. So, it’s not retroactive – no time-traveling ailments!

Benefits of PMI

• Fast Access: You get speedy access to private healthcare services. No waiting in long queues!
• GP Appointments: Many providers offer digital GP apps, allowing you to book appointments quickly.
• Referrals: You can get referrals to further private treatments without delay.
• Physiotherapy and Mental Health Support: Some policies grant direct access to physiotherapists and mental health specialists.

Coverage

• Policies vary, but PMI generally covers private treatments.
• Some policies also include diagnosis and ongoing support for conditions like cancer or mental health issues.
• Emergency treatments, maternity care, and management of long-term conditions (e.g., arthritis, diabetes) are usually not covered.
• Pre-existing conditions (those you had before taking out the policy) are also not normally covered.

Excess

• You can choose to include an excess (an amount you agree to pay toward claims each year).
• Opting for a larger excess can reduce your monthly payments, but you’ll need to pay the excess if you make a claim.

Making a Claim

• Each provider has its own process.
• Typically, you visit your GP first for a referral.
• You choose from a list of approved healthcare providers.
• Your insurer pays these providers directly, so no need to claim money back.

Choosing the Right Policy

• Consider your individual needs and what you want from health insurance.
• Compare policies to find one that ticks all your boxes.