The lesser known benefits of Private Medical Insurance

“The first rule of Fight Club is you do not talk about Fight Club”.

Whether you’ve seen it or not, everybody knows the quote.

Way back in 1999, before the wonders of YouTube and when a rotten tomato was well, just a rotten tomato, I rented Fight Club based on its title. I thought it would be 2 hours of non-stop action and violence, but as the film went on, I started to realise there weren’t many action scenes in it at all. But, by the time the credits started rolling, I was thinking “wow what an absolutely mind-bending film.” I also had a newfound appreciation for the very talented Edward Norton (and the importance of getting a good night’s sleep).

So why am I talking about a 25-year-old movie? (Gosh, that makes me feel old) Well, the point of this intro is to show that we should not just expect something to be purely as its name suggests. Because we might be pleasantly surprised.

The lesser known benefits of Private Medical Insurance

Private Medical Insurance is, at its core, designed to help arrange and most importantly cover the costs of medical care when you have symptoms or a diagnosis of an acute illness or condition. Having cover provides you with prompt access to treatment, helping you to get back to good health and normal life as soon as possible.

If you’ve ever made a claim via your health insurance provider, you will have experienced the value of having this cover in place. But if you have (fortunately) never had to make a claim, you may feel you don’t need cover because you’re fit and healthy.

A common misconception is that Private Medical Insurance is just there to be used for private hospital treatment right? Wrong! On top of the core benefits, there can be lots of daily wellbeing benefits included such as cashback cover for routine dental and optical appointments, virtual and private GP services as well as an Employee Assistance Programs (EAP). Some insurers even offer travel insurance as part of the overall benefits package.

If that’s not enough, healthcare insurers also include added-value benefits via third parties. For example, you can get generous discounts on health assessments (a human MOT if you will) with leading names such as Nuffield Health, Bluecrest and Circle Health Group.

For the gym goers amongst your staff, discounted membership can also be offered (as somebody who pays a gym membership, I know a discount is always welcome)! On the subject of fitness and wellbeing, if you have a Vitality Health policy, you can even be rewarded for living a healthy lifestyle with regular benefits such as a free coffee, cinema tickets and streaming services as well as discounts at partnered brands and even hotel and spa days. Now who wouldn’t like a bit of pampering?

Please note: Discounts and offers provided alongside your cover are often non-contractual benefits which the insurer and/or their partners reserve the right to change or withdraw at any time.

How do I know what benefits my policy has to offer?

I’ve worked in the private healthcare insurance industry for well over a decade and I am still yet to meet a customer who knows their cover inside out (that’s what we’re here for).

Top Tips

1) Check your insurance summary

A summary of benefits selected for your policy is often listed on your membership certificate that is provided by the insurer when your cover starts / renews each year. As we move into a more paperless world, insurers will also provide you with online access to your benefits and services via apps and online tools such as the My Aviva app and the Bupa Touch app.

2) Talk about your benefits

This may break the first rule of Fight Club (don’t tell Tyler Durden) but you should talk about your benefits! And contact your insurer to find out more about your policy if you’re not sure. If your cover is provided via your employer, you can also speak to your HR representative or the Group Administrator of the policy who will be able to help provide you with this information.

As an employer, if you already offer Private Medical Insurance as part of your employee benefits package, you will know how valuable it can be when attracting new recruits as well as retaining your current employees.

But if you want to know more about what’s covered or what benefits you could be getting, please get in touch.