What is private health insurance?

Private health insurance is a policy that covers the cost of private medical treatment for acute conditions. It gives you faster access to specialists, diagnostic tests, and surgery without relying on NHS waiting lists.

How much does private health insurance cost in the UK?

Premiums typically range from £50 to £150 per month for an individual, depending on your age, medical history, level of cover, and chosen excess. Family policies cost more but often offer better value than insuring each person separately.

Does private health insurance cover pre-existing conditions?

Most standard policies do not cover pre-existing conditions. Some providers offer moratorium-based underwriting where pre-existing conditions may become covered after a period without symptoms or treatment, typically two years.

Can I use private health insurance alongside the NHS?

Yes. Many policyholders use the NHS for routine care and their private cover for specialist referrals, elective surgery, or when NHS waiting times are long. Some policies include a six-week NHS wait option to reduce premiums.

What is the difference between an excess and a co-payment?

An excess is a fixed amount you pay towards each claim or policy year before your insurer pays. A co-payment means you pay a percentage of every claim. Both reduce your premium but increase your out-of-pocket costs when you claim.

How do I compare private health insurance plans effectively?

Compare policies based on the level of cover, the hospital and consultant network, exclusions, excess amounts, and annual claim limits. Getting quotes from multiple providers ensures you find the best value for your needs.

Private Medical Insurance Quotes UK

Getting Private Medical Insurance Quotes

Private medical insurance (PMI) is the same product as private health insurance — the term is more commonly used by employers, HR departments, and financial advisers. If you have been asked to "get a PMI quote" by your accountant or financial planner, this guide will help you understand the process and compare options effectively.

PMI Quotes for Individuals

If you are buying PMI for yourself (not through an employer), the quote process is identical to getting a private health insurance quote. You will need your date of birth, postcode, and preferences for cover level, excess, and hospital list.

Key differences when comparing individual PMI quotes:

Underwriting method — choose between moratorium (no medical questions upfront, faster) and full medical underwriting (disclose your history, get certainty about exclusions)
Tax position — individual PMI is paid from post-tax income. There are no tax reliefs for personal health insurance in the UK.
Continuity — if you are leaving an employer scheme, ask about CPME (Continued Personal Medical Exclusions) to preserve your existing cover.

PMI Quotes for Businesses

If you are an employer looking for corporate PMI quotes, the process differs from individual quoting:

Small Businesses (2–49 employees)

Most providers offer SME schemes with simplified underwriting. Premiums are typically based on the average age of the group rather than individual assessments. Expect to pay £40–£80 per employee per month for mid-range cover.

Key considerations:

Medical History Disregarded (MHD) — available for groups of 10+, this means no one is excluded for pre-existing conditions. The group premium absorbs the risk.
Flexible benefits — some schemes let employees choose their own cover level or top up the employer contribution.
Tax treatment — PMI is an allowable business expense and attracts no employer National Insurance contributions. Employees pay income tax on the benefit value (P11D).

Large Businesses (50+ employees)

Large group schemes are typically brokered through specialist corporate health insurance brokers. Premiums are negotiated based on claims history, group demographics, and volume. Significant discounts are available at scale — large employers may pay 30–50% less per employee than SMEs for equivalent cover.

PMI Quotes for the Self-Employed

Self-employed individuals buying PMI should be aware of the tax position: PMI for yourself is not a tax-deductible business expense. You pay from post-tax personal income, just like an employed person buying individually.

However, if you operate through a limited company and provide PMI as a company benefit, the company can deduct the cost as a business expense. You will pay personal tax on the benefit (P11D), but the overall tax treatment may be more favourable than paying from personal income.

Providers that are particularly strong for self-employed PMI:

The Exeter — designed plans specifically for self-employed people, with flexible cover and competitive pricing
Vitality — rewards programme provides tangible value for health-conscious freelancers
AXA Health — competitive pricing, 24/7 GP access is valuable when you cannot afford to wait for an NHS appointment

What Affects Your PMI Quote?

Factor	Impact on Premium	Your Control
Age	Premiums double between 30s and 50s	None — but buying younger locks in lower starting premiums with some providers
Location	London +15–25% vs national average	None
Cover level	Comprehensive costs 2–3x inpatient-only	Full control — choose what you need
Excess	£250 excess saves 15–25%	Full control — balance premium vs out-of-pocket risk
Hospital list	Limited list saves 10–20%	Full control — check local hospitals are included
Six-week wait	Saves 20–40%	Full control — biggest single saving available
Medical history	Varies — may add exclusions or loadings	Limited — choose moratorium vs FMU underwriting

Comparing PMI Quotes Effectively

When you have quotes from multiple providers, use this checklist:

Standardise the comparison — ensure all quotes use the same excess, cover level, and hospital list type.
Check outpatient limits — the most common area where policies differ. One provider might offer £1,000 outpatient limit while another offers unlimited.
Verify cancer cover — look for "no financial limit" on cancer treatment. Some budget policies cap cancer cover.
Review mental health terms — check the annual limit and whether it covers ongoing therapy or only initial assessment.
Check the claims process — can you pre-authorise online? How quickly are claims processed? What do customer reviews say about claims?
Factor in additional benefits — 24/7 GP access, health assessments, and wellness perks add real value beyond the core cover.

Private Medical Insurance Quotes