We all pay our taxes, or at least we should all be paying our taxes, and as a part of the taxes, we pay into the NHS/National Health Service. You can view this contribution on your wage slip as NI or national insurance. And for this monthly contribution, we have access to medical care or health insurance; a socialized medical care program that began shortly after WW II.
It all is so easy and very clean for us; we work, we pay our taxes, we get health care. The same situation is in Canada. People can protect themselves and their families with the means of safeguarding lives. It is possible to cover any possible risks and even do this with 3-in-1 life. Also, if you have not heard yet, cannabis is legal in Canada. It is allowed to use Indica, watermelon haze, pink death, etc., for medicinal purposes there.
There are other countries, such as America, where there is no formal medical or health insurance provided by the government; at least not yet in America. And in those countries, you need to take out health insurance, which pays should you need to see a doctor or if you are in an accident or take ill. Many health insurance policies can be provided by an employer as they can get better rates due to it being a large group policy. But the individual still has to pay something towards the premiums and also may have a co-pay or an amount they need to pay each time they see a doctor or are treated.
There is private health insurance in the UK, and many people use it as opposed to the NHS. They still have to pay their taxes and contribute to the NI, but they can use private insurance if they choose. Of course, they pay for this private insurance and the premiums for such a policy can vary according to many factors.
In some instances and for some things private health insurance does serve a purpose, especially for elective or cosmetic procedures. But again, you do pay for this insurance.
So how can you keep the premiums reasonable for private health insurance, there are a few things you can do.
Try to stay in reasonable shape. If you are overweight, get on a diet, exercise and lose the extra pounds. Changing your lifestyle just a bit, walking, riding a bike, etc, can make a big difference.
And while we are mentioning lifestyle, if you smoke, quit. It is easier said than done, but smoking is unhealthy. You can also watch how much you drink, and I don’t mean watch it as it goes down your neck.
You can also reduce the cost of a private health plan by increasing your deductible/excess or the amount you need to pay or cover should you use the policy.
There also are «shared responsibility» plans, where you pay a percentage of any claim, say 25%, up to an agreed limit, and the insurer pays the balance.
Group health plans are a way of receiving insurance at a lower rate. Some employers offer private health care. Also in some instances, a family plan may work out better if you are looking to insure yourself and any family members.
There also may be the option of mixing and matching on some policies. You can opt for certain coverage but not others, which may save you money. The key here is to not be penny wise and pound foolish, you don’t want to save a few quid now only to have to pay later.
And of course, for all emergencies, our own NHS will be there to catch us. So if considering private health insurance, there can be a few ways to reduce the expense.