Healthplan Blog: Insights and Articles

Health insurance for your business is a necessity. But what type of underwriting should you choose? Did you know that MHD works to cover pre-existing conditions? With this type of cover, your past medical history is ignored and replaced to include the health challenges that will come up in the future. Medical History Disregarded can be availed if you have 20 or more employees in your business. Below we provide a comprehensive study of MHD, how to get it, what it includes, the cost, and pros and cons.

Before you purchase health insurance and even before you can get a quote, you need to decide on your excess amount. It’s only payable if you, or someone on your policy, claims on the policy. It might sound counterintuitive to pay for treatment before your insurer, but it helps to keep your premium more affordable. Are you willing to take on a portion of the expenses before your insurance policy kicks in? This is what medical excess is all about.

Moratorium underwriting is a process by which insurers determine the terms of health insurance, where they exclude all pre-existing conditions from the last five years for a period of two years. After that, the list of pre-existing conditions is reconsidered, and insurance policy exclusions may change. It is an alternative to full medical underwriting, where some pre-existing conditions are excluded permanently. A moratorium takes the recurrence of an illness into account, allowing for more flexibility in the cover.

Getting private health insurance is an option many UK residents consider. However, you need to get to know more about its specifics to set clear expectations of what can get out of it. In this article, we will cover the main aspects of private medical policies in the UK.

Though the NHS provides quality free healthcare to everyone in the UK, many people choose private health care. The main benefits are shorter waiting lists, comfort, and personalisation. Private health insurance cost comparison UK options reveal these benefits often come at a premium.

The NHS provides free healthcare to the majority of UK people. Yet, many individuals purchase private medical insurance, which covers the price of treatment by private healthcare providers. Before you get private health insurance, you should learn how it works, when it’s a good idea, its benefits and drawbacks, and a few other details that we will cover.

The confusion of whether or not private health insurance premiums are deducted from income in the United Kingdom is a common topic. Yes, medical insurance premiums are deductible from your taxable income. There are, nevertheless, certain requirements that must be followed in a tax-efficient way. As long as a company pays for the private medical insurance of an employee or director, the premiums are deductible as business expenses, and the company benefits from tax breaks on those expenses. Employees and directors who get private medical insurance will be taxed and subject to national insurance (NI) on their premiums.

All information stated is correct at time of publishing and can be amended at any time. Due to the impact of Covid-19, things are changing rapidly. We are doing our best to update this page regularly. However, please check with your health insurance provider or PMI advisor directly to confirm any details are correct.