Will
My Health Insurance Premiums Increase?
Inflation of Healthcare
It
doesn’t matter which health insurance scheme you choose,
your insurance premiums may rise above the rate of inflation.
This is because of outside factors which affect how healthcare
is provided in the west. Every year more and more people claim
on their health insurance for private medical treatment. A
hip replacement costs from about £7,000 to £10,000
and is a most common operation for older patients.
The
complexity, number and cost of health treatments to improve
quality of life is steadily increasing. Private medical insurance
policies try to cover these treatments as they become established
medical practice and available privately. Also the complexity
and sophistication of medical tests used to diagnose injury
and illness are increasing as well. These tests are becoming
widely available in many private hospitals. It is highly unlikely
that you will find all of these insurance options in any one
policy, but a combination of these will probably be available.
There is another factor that affects your premium and that
is a no-claims discount or payment method.
Will My Health Insurance Premiums Increase With Age?
When
people get older they are more likely to need and receive
private medical treatment, this means that private medical
insurance premiums will have to increase with age to
reflect this. Someone aged 45 would pay 25% more than
someone aged 35. A 65 year old would also pay more than
twice the premium of a 45 year old. The exact figures
change depending on each insurance company. You can
ask your insurance company to provide the current premium
for someone older than you when you ask for an initial
quote.
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