Legal & General has published research that it says that over 70% of people intend to pay for private healthcare out of their own pockets when and if needed without taking out a Private Medical Insurance Policy yet 57% underestimated the costs of an operation.
57% estimated that the cost of a knee replacement operation was £4,000 and 29% had no idea of the cost. The real cost, of which only 3% guessed correctly, is currently £6,000.
Our view
This is a worrying survey, many people say that they will consider private health care given the alleged crisis in the health service, yet the numbers of people taking out private medical insurance are falling and the costs for health care are expensive. Yet people seem not to take seriously how they will pay for care suggesting that credit cards, savings or family members will cover the costs if needed.
Our advice – the cheapest way to cover the costs for such a need is via insurance, you along with millions of other policyholders, technically share the costs should one of you need health treatment.
Contact us for guidance on private medical insurance. Visit the Help Zone.