Why should I buy Private Medical Insurance?

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Private Medical Insurance is not there to take over the NHS, it complements it.

The NHS has an envious reputation for its Accident & Emergency services, its approach to treating such conditions as cancer, and the perceived ‘free’ access to medical care for anyone in the UK. But can you rely on a system that is overloaded by demand?

Could you wait to receive your healthcare, provided you can get a bed in the first instance? What is the quality of the treatment and the environment at your local hospital?

Consider the facts:

  • 8 months for cataract surgery
  • 11 months for a hip replacement
  • 12 months for a knee replacement
  • 5 months to repair a slipped disc
  • 5 months for a hernia repair
    Source: Dr Foster (Independent medical researchers) Current Waiting Times in England and Scotland (May 2004)
  • The average age of a cancer sufferer is Age 42
  • The average age for a Heart Attack is Age 47
  • The average age to suffer a stroke is Age 44
  • The average age to suffer Multiple Sclerosis is Age 38
  • The average age for By-Pass Surgery is Age 49
  • The average age for Parkinson’s diseases Age 47
    Source: Scottish Provident 2004 - average ages of claimants on Critical Illness plans

Can you afford not to consider Private Medical Insurance?

If you’re self employed, buying health insurance is absolutely essential. A minor condition could prevent you working for months if you have to wait for the NHS to provide treatment. Having Private Medical Insurance on the other hand could mean that treatment is immediate. Private healthcare could get you well and back to work before the first consultation by the NHS.

If you have a busy life, then you need to plan the timing of your treatment. The NHS will provide treatment when it can but with Private Medical Insurance; you can plan your treatment to suit your schedule, avoiding holidays, business trips, sporting events and so on. Private Medical Insurance will mean that you are in control.

Private health insurance will also mean that if you do need treatment, you will enjoy five star comforts. Private health care will usually mean a single en suite bedroom, your own choice of high quality meals all in an environment free of infection. Most people find sleeping in a busy ward while recovering from an operation extremely difficult. In contrast Private health care will provide the peace and quiet to help you sleep.

Private Medical Insurance will mean that the consultant that is responsible for your care will treat you personally. Good as the less qualified doctors are, you will be buying medical insurance to ensure that you are treated by the expert.

Now, Can you afford not to consider Private Medical Insurance?

Next section:
I already have Medical Insurance

Disturbing Statistics

2.5 million people suffer from acute chronic back pain every day of the year.
Source: National statistics online

4 out of 5 adults will experience back pain at some time in their lives.
Source: National statistics online

The cost of back pain to the NHS, business and the economy is an estimated £5 billion per year.
Source: National statistics online

1 in 3 people will be diagnosed with cancer during their lifetime.
Source: National statistics online

Cancer is the cause of a quarter of all deaths in the UK.
Source: National statistics online

A staggering 2.7 million people are estimated to be living with coronary heart disease.
Source: British Heart Foundation

Almost 1 in 8 people have been diagnosed with coronary heart disease.
Source: British Heart Foundation

More than 1 in 5 men die from coronary heart disease.
Source: British Heart Foundation

More than 1 in 6 women die from coronary heart disease.
Source: British Heart Foundation

1 person every 2 minutes suffers a heart attack in the UK.
Source: British Heart Foundation

Stroke is the third most common cause of death in the UK.
Source: The Stroke Association

More than 1 in 3 people in the UK die from disease of the heart and circulatory system.
Source: British Heart Foundation

There were 2,401,147 people waiting for their initial consultation appointment in England during July - Sept 2003.
Source: The Department of Health Hospital Waiting Times - quarter 3 2003.

There were 973,126 people waiting to have in-patient or day-patient treatment in England during July - Sept 2003.
Source: The Department of Health Hospital Waiting Times - quarter 3 2003.

There were 151,645 people were waiting six months or more to be treated in England during July - Sept 2003.
Source: The Department of Health Hospital Waiting Times - quarter 3 2003.

The full impact of absence costs UK private sector employers about £1,550 per employee per year - or around 9% of their annual payroll.
Source: Robertson Cooper Limited, 2001 - Survey conducted with 87 major UK employers.

In the UK as many as one in five workers are suffering high levels of work-related stress.
Source: Health & Safety Executive Website - Nov 2000.

The majority of companies are spending between 2% and 16% of their annual budget on sickness absence alone. Private Medical Insurance will probably only cost around 1% of payroll and could save the employer thousand of pounds of down time.
Source: Costing Sickness Absence in the UK, The Institute of Employment Studies 2001.

34% of employers still don't have any kind of strategy in place for reducing sickness absence costs.
Source: Employee Benefits Survey, 2002.

Some of the highest sickness costs are in the building and retail industries where 40% see such absence costing them between 3-5% in payroll costs.
Source: Employee Benefits 2003.

The number of employees who value Private medical insurance has risen from 47% to 59% over the past year.
Source: Chase de Vere 2003.

Private medical insurance has been cited as one of the key employee benefits in helping to strengthen employee / employer relationship.
Source: Cover Magazine 2003.

Over 2 million people aged 20-64 have been unable to work and claiming State Incapacity Benefit for more than 6 months, and may never work again.
Sources: IAD Information centre (DWP) 5% sample 31 May 2003.

People are 20 times more likely to be incapacitated and off work for more than 6 months, than to die before the age of 65.
Sources: IAD Information centre (DWP) 5% sample 31 May 2003. ONS Annual Abstract of Statistics 2002 - 98,992 people aged 20-64 died in the UK on 2000.

2,463,000 people of working age were off work due to health reasons. 2,273,000 of these were suffering from long-term sickness or disability.
Source: 2001/2 Labour Workforce Survey.

94% of employers say that absence is a 'significant' or 'very significant' cost to their business.
Source: CIPD - Employee Absence, a survey of management policy and practice June 2001.

Long term absence in the workplace accounts for 40% of the total working time that is lost to absence each year.
Source: CBI 2001.

80% of companies would relocate an incapacitated employee's work to other staff as part of their normal duties.
Source: Employee Research conducted on behalf of Norwich Union Healthcare, 2001.

Now, Can you really afford not to consider Private Medical Insurance?

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