Protecting your health

Private healthcare options are on the rise as more people are looking at alternatives to the NHS through personal or workplace provision. 

Protection and insurance products can provide access to some primary healthcare options, such as GP and dental services, and often contribute towards the cost. 

There are significant differences between providers and products in price, coverage and exclusions, although none replicates the range of services available via the NHS. Understanding the details of each policy is key to finding the right option.

 

• Cash plan policies: Pay out a fixed contribution towards routine healthcare costs, such as dental and optician fees. 
• Income protection: An insurance policy that pays a fixed monthly income if you are signed off work through ill health. It can ensure essential bills are paid during a period of illness. 
• Critical illness: Pays a lump sum on the diagnosis of one of the serious illnesses listed on the insurance policy. The conditions will include most cancers, heart disease and stroke. 
• Private medical insurance: Typically covers the cost of private diagnostic tests, consultations and hospital treatment. Emergency cover is not included, nor is treatment for existing or ongoing problems such as asthma and diabetes, nor pregnancy-related complications. 

Many of these products now also offer a range of additional services, often at no extra cost.  This can include virtual GP services, mindfulness apps and online counselling, plus information on lifestyle issues – for example diet, smoking or exercise.

While these products can of course be bought individually, employers are increasingly offering some form of health benefit to their staff to improve staff retention and reduce long-term sickness absence. 

If you need to access health insurance at any point, or are looking to improve your health, it is worth checking what benefits may be available through your workplace, including access to healthy lifestyle services.

 

Contact Us

To arrange an appointment to discuss how we can help you with your financial planning, or other related matters, you can contact us via your usual MHA adviser, or directly on 01604 621 421, or email the team on enquiries@mhacaves.co.uk

 

General risk warnings & other important information

This is a marketing communication, for general information only, and is not intended to be individual investment advice, a recommendation, tax, or legal advice. The views expressed in this article are those of MHA Caves Wealth or its staff and should not be considered as advice or a recommendation to buy, sell or hold a particular investment or product. In particular, the information provided will not address your personal circumstances, objectives, and attitude towards risk. Therefore, you are recommended to seek professional regulated advice before taking any action.

Key Risks: Capital at risk. Past performance is not a guide to future performance. The value of an investment and the income generated from it can go down as well as up, and is not guaranteed, therefore you may not get back the amount originally invested. Investment markets and conditions can change rapidly. Investments should always be considered long term.

The Financial Conduct Authority does not regulate tax advice. Tax treatment varies according to individual circumstances and is subject to change.