Tips for Choosing Private Medical Insurance


The Big Decision

Choosing private medical insurance is a huge milestone in a person’s life. Investing anything extra in order to secure a broader offer of covered medical services is a plus. But there is this lingering feeling of “is this a necessary investment?” This is because you know you’d be getting the basics anyways, without private insurance.

Well, we’re known to lessen the importance of future events we know nothing about. As a species, we focus more on present events and the present amount of money we have. In turn our future can take a backseat.

That’s why it’s crucial that we choose private medical insurance just after we have covered as much ground as we can. Any kind of investment is a significant one. Knowing where your money is going is a must.

We’ve complied a useful list of the best advice for choosing private medical insurance. Use this as a starting point towards a calmer and healthier future. Your private insurance can bring you this.

What’s a Premium?

Before we dive into our tips for private insurance, we’ll lay out the definition on a “premium”. A premium is the amount of money you pay to your employer in order to get medical coverage. You pay it monthly to your company, though lots of employers partially cover those costs.

Premium Costs

Bear in mind that you will need to pay the full premium cost if you are to insure yourself. This can seem like a daunting thing, since there isn’t one form of private medical insurance and you have heaps of options to pick. It’s just important that it suits your lifestyle as much as possible. Luckily, there are companies out there that offer fair insurance premiums.

How to Choose a Private Health Insurance Plan?

Assess In Which Group You’re In

Not everyone needs the same kind of health coverage. Check out the following groups to see where do you fit in the most:

Young Adult

If you’re around 26 years old (check out more detailed age categories for each health coverage provider), you have probably been covered by your parents’ insurance up until this moment. Now you are most likely in need of your own.

Unemployed Adult

Unemployed people find themselves in different situations. Some of them are covered by Consolidated Omnibus Budget Reconciliation Act (COBRA), in case they have left their job recently at a company that takes part in COBRA. This Act allows people to carry on holding the same health insurance, but at their own cost.

Part-Time Worker

These positions seldom cover all the health benefits you need. If you’re in this group and working less than 40 hours per week, you probably have to deal with your own health insurance situation.

Self-Employed People

Such individuals are usually freelancers or own their own business. While some of them opt for health insurance via their legal partner’s plan, some have to deal with their own situation.

Business Owner With Employees

It’s always a plus if you offer employees health insurance, since it makes you a more competitive employer. This means buying a business health insurance plan, called a group plan.

Retired Person

Retirees are not eligible for employer-covered medical insurance. If you are younger than 65 and a healthy adult, you will require a private health insurance plan until you hit the 65 milestone and can apply for Medicare. Lots of retired people pick private Medigap or Medicare Advantage plans, apart from Medicare. This is done for the plain fact that this gives them extra covered medical conditions. Bear in mind that all of the aforementioned plans are individual – your partner and family are not covered via them.

Dropped by the Previous Insurer

The Affordable Care Act means that an insurance company cannot cancel your plan or deny coverage if you have a pre-existing condition. But there are still loopholes that can see you getting dropped by the insurer. Or, worse still, your insurance becomes so costly that you cannot pay it out.

Is the Company Promoting Equality?

Some not-so-shocking details emerged recently, revealing that women opting for private medical insurance are frequently charged up to 50% more than men are, monthly premiums-wise. The percentage even crawls up to 81 percent at times!

This sort of “gender rating” is unacceptable and illegal, and if you’re a woman, you need to pay special attention to the insurance companies you’re looking at, in order not to be duped into paying more just due to gender.

If you are planning on getting pregnant one day, you should be on a lookout for a private insurance company that provides pregnancy benefits.

Equality For All, Regardless

Even if you’re a man, you can take part in the fight by bypassing an individual insurer that charges one gender more than another.

Find a fair provider of medical insurance that won’t incur astronomical additional costs for women (Image source: Shutterstock)

Extra Costs

Ask yourself some additional questions, such as:

  • Does the insurer provide coverage for prescription drugs?
  • How much do you pay extra for certain lab tests and x-rays?
  • Do you need to pay for emergency room visits?
  • Do you get dental coverage and how much are you willing to pay for it?

What Kind of Coverage Do You Strive for?

Typically, you can choose between three levels of private health insurance:


This health insurance policy covers treatment and other expenses while you are in inpatient treatment in a hospital.


Medium private health insurance policies usually encompasses outpatient care, apart from inpatient care.


Apart from covering everything mentioned above, comprehensive plans cover bonus treatment – from physiotherapy to mental health.

In Conclusion

Something big as private health insurance is something you need to approach wisely. Take your time in researching the internet, talking to experts and reading other blog posts on our website that concern your needs.

Always take into consideration your pre-existing conditions, your wallet, the laws and your lifestyle when choosing your private medical insurance.

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