Paying your own medical costs can be an alternative to the NHS and private healthcare, but is it worth it?
Self-pay healthcare is medical treatment that you pay for yourself, rather than having it funded publicly – through taxes – or privately – via health insurance.
You might pay for your own medical treatment if:
While medical costs in the UK aren’t as high as places like the United States and Canada, bills can still reach the thousands. However, your charge will depend on other factors, such as the degree of treatment you require and the hospital you’re treated at.
Self-insuring is another option you may want to consider to help pay for medical costs. You pay a set amount of money into a savers’ account every month, rather than paying for insurance, so you have a pot ready to dip into if you need to receive treatment.
Keep in mind that while this can save you on premium costs, you’ll have to have a decent chunk put away for it to be worth it.
Paying for your own medical treatment costs can offer some benefits, such as having more control over the treatment you receive, and the opportunity to avoid waiting times. However it’s up to you to consider whether it’s worth the additional overall cost, or whether paying a monthly premium could leave you better off so you won’t have to pay for the actual treatment.
It’s worth noting that private health insurance can still be used alongside the NHS. This way you’ll be able to take advantage of free care at your GP and in A&E, while using your private health insurance policy for more extensive treatment and outpatient care.
Finding a cheaper deal on private health insurance is easier when you compare quotes online. With MoneySuperMarket and our preferred partner ActiveQuote, all you need to do is tell us a little about yourself and your lifestyle and we’ll do the hard work for you.
We’ll provide you with estimates for basic, medium, and comprehensive levels of cover, before one of our experts will call you personally to discuss your options. This way you’ll be able to find a policy that provides everything you need for the best price possible.
Self-pay health care can be costly, even if it might help you avoid waiting lists – that’s why there’s health insurance.
Health care cash plans are a great way to top up the services offered by the NHS, assisting with costs towards treatments that would otherwise not be covered.
