Last updated on November 12th, 2023 at 05:43 PM
There has been a 65% jump in private medical insurance enquiries year-to-date in the UK.
The surge comes amid soaring NHS waiting lists and growing awareness of the importance of healthcare in the wake of the pandemic and heightening geopolitical tensions reports one of the world’s largest independent financial advisory organisations.
Of the jump in enquiries, Juan Serey, Private Medical Insurance Advisor, at deVere Group’s strategic partner, Secure Mortgages and Protection, comments: “The sharp rise in enquiries for private medical insurance underscores the increasing recognition among individuals of the need for reliable and timely healthcare solutions.
“With NHS waiting lists reaching highly concerning levels, people are increasingly frustrated and are unwilling and/or unable to wait. As such, they’re turning to the private sector to secure faster access to medical services.”
The trend is undeniable. Private hospitals in Britain set a record in 2022 by treating 820,000 inpatients and day case patients, according to data in the public domain from the Private Healthcare Information Network (PHIN).
It also comes as patients waiting for NHS care are being encouraged to use the health service’s app to book their operation at a private hospital under government plans to tackle the huge care backlog.
He further notes: “The current environment, marked by ongoing geopolitical tensions and the lingering impact of the global pandemic, has heightened awareness about the fragility of public healthcare systems.
“Clients are increasingly valuing the peace of mind that private medical insurance provides, ensuring they can access medical care swiftly and efficiently.”
The experienced team of financial advisors has been at the forefront of guiding clients through the complexities of the healthcare landscape.
As geopolitical tensions persist and uncertainties surrounding public healthcare systems prevail, the importance of having a robust private medical insurance plan has become more evident than ever.
Clients are seeking comprehensive coverage that goes beyond traditional medical expenses, providing them with a safety net in an unpredictable world.
The Private Medical Insurance Advisor continues: “In the face of global geopolitical tensions, such as conflicts and wars, individuals are increasingly recognising the significance of financial planning and protection.
“Private medical insurance has become a critical component of comprehensive financial strategies, offering individuals the assurance that their health and well-being are safeguarded.”
He concludes: “We should stress the importance of a tailored approach to private medical insurance, considering individual needs, preferences, and budget constraints.”