Private Health Insurance: Complete Buyer's Guide

Private health insurance can mean faster treatment, more choice of doctors and access to private hospitals — but it is only worth it if you understand what you are buying. This guide walks through everything to check before you sign.

What private health insurance covers

Private medical insurance typically pays for treatment in private hospitals, shorter waiting times for procedures, a choice of specialist and often a private room. Depending on the policy it may also include outpatient care, diagnostic tests, mental health support and dental or optical extras. What it covers varies enormously between policies, which is why reading the schedule of benefits matters more than the headline price.

What it usually does not cover

• Pre-existing conditions, at least for an initial waiting period
• Routine pregnancy and childbirth, unless specifically added
• Cosmetic procedures that are not medically necessary
• Chronic conditions that need ongoing long-term management
• Emergency care that the public system already provides

Key things to compare before buying

When comparing private policies, look beyond the monthly cost. Check the annual benefit limit, which caps how much the insurer will pay. Check the excess, the amount you pay toward each claim. Check waiting periods, hospital lists and whether the policy is "full medical underwriting" or "moratorium," because that decides how pre-existing conditions are handled.

Is private health insurance worth it?

For some people it is clearly worth it: those who want to avoid long public waiting lists, want a choice of specialist, or want the reassurance of a private room. For others, especially those in countries with strong public health systems, the value is more marginal. The honest answer depends on your health, your finances and how much you value speed and choice.

Frequently asked questions