Healthplan Blog: Insights and Articles

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.