How much does private health cover for children cost?
As a parent, the health of your children is likely at the top of your worry list. If you have a child that is poorly, it can be frustrating just trying to get a doctors appointment sometimes. And if they need additional treatment, you could be left waiting for months to see a specialist.
As an adult you have the option of paying for private healthcare but is this an option for children?
In short, yes. In order to access private treatment, you could take out children’s private medical insurance which will pay for some or all of the diagnosis and treatment that your child requires.
How does private health cover for children work?
When a parent is looking for private health cover for children it is fairly common to take out either a policy that covers the entire family, or an individual policy which includes cover for any children.
If parents already have standalone health cover, for example through their employer, there are some providers which will offer separate private health cover for children, although it is still quite a niche area so options may be limited.
What is the benefit of private health cover for children?
The benefits of children’s health insurance will differ depending on the provider, so it’s always worth comparing different policies to find the right one to suit your needs.
Most offer phone or video consultations, either the same day or within 48 hours. If specialist appointments or procedures are required, you should be able to access these much faster than through the NHS.
If a child is admitted to hospital, some policies pay out a cash sum for each night that they stay in. This can be really helpful to cover expensive car-parking fees or additional accommodation for parents if they are unable to stay with the child at the hospital, although many private hospitals already provide accommodation for parents alongside their children.
Will my child still be able to access NHS services?
Yes, taking out private health cover does not mean you can no longer use the NHS. However, using private healthcare will mean reduced waiting times and access to specialist treatments that aren’t always available through the NHS.
If your child has an accident and requires emergency treatment, then they would still need to visit A&E. Private health cover does not cover accident or emergency treatment.
Is there anything else that private health cover for children won’t cover?
As per any private health policy, there will be exclusions – always check the small print or ask your provider to clarify what these are. Most private health policies will exclude pre-existing conditions. If your child becomes ill due to a pre-existing condition, you would need to go through the usual NHS channels to seek treatment.
How much will it cost?
There are different levels of cover which will affect the price of your policy. Some policies will be all-singing and all-dancing, however you could end up paying over the odds for benefits that you don’t really need. Some policies can be watered down a little. Remove elements that you don’t actually need, or won’t use, then it could make your monthly payments more affordable.
Also, don’t rule out taking out a policy for yourself that includes your children. It may work out just as cheap to insure the whole family, rather than just taking out a policy for your children.
Shop around to make sure you are getting a good deal. Better still, speak to a health insurance broker who can compare a number of different products for you, and find the one that suits both your circumstances and your budget.
Speak to a health insurance specialist today to discuss your cover requirements in detail and find cover that’s right for you.
The above post is intended to be informative but does not constitute advice – financial, legal or otherwise. Any opinions given are the author’s own and do not necessarily reflect the views of So Smart Protect or So Smart Financial Services.