13th November 2023
Record Level Backlogs at the NHS
The National Health Service is preparing for a difficult path ahead, as waiting lists are expected to grow before any noticeable improvements occur. With an already staggering 7.77 million patients waiting for treatment, we have had more inquiries about the possibility of buying Private Medical Insurance and therefore easing the anxiety of waiting lists and delay.
Source: FE Analytics
The Private Healthcare Information Network (PHIN) released a report indicating that procedures funded through private medical insurance have reached their peak levels since the onset of the pandemic. Moreover, the year 2022 saw a higher number of self-pay admissions, where individuals opt to finance their healthcare directly instead of relying on private health insurance, compared to previous years.
Private Medical Insurance offers several benefits that can be attractive to individuals who want additional healthcare options beyond what is provided by public healthcare systems. Here are some benefits of having private medical insurance:
- Shorter Wait Times
- Choice of Healthcare Providers
- Access to Specialist Care
- Enhanced Facilities and Amenities
- Peace of Mind
- Family Coverage
As with all insurance, you can cover many or fewer scenarios and the cost will fluctuate depending on this. The landscape of Private Medical Insurance can be complex and therefore provides a barrier to entry for many individuals. A&J Wealth Management has expertise in this area and has relationships with Private Medical Insurance providers and can advise you on the different options available to you.
The content of this publication is for information purposes and should not be treated as a forecast, research or advice to buy or sell any particular investment or to adopt any investment strategy. It does not provide personal advice based on an assessment of your own circumstances. Any views expressed are based on information received from a variety of sources which we believe to be reliable but are not guaranteed as to accuracy or completeness. Any expressions of opinion are subject to change without notice.