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All About Health Insurance for Over 60

Is private health insurance worth it when you’re over 60? Can I even secure a policy? These are burning questions for those heading towards retirement or already retired.

This guide will answer all frequently asked questions about health insurance for over 60 year-olds.

Can I Get Health Insurance If I’m Over 60?

Private medical insurance is undoubtedly available for over 60 year-olds. However, there are a couple of factors to consider about the policies.

Insurers are cautious in offering plans with extensive coverage to those over 60, mainly as they are more likely to fall ill. Some companies may not insure them at all.

Should an insurer offer private health insurance for over 60, you’ll likely find the premiums to be more expensive, even if you fit the prerequisites of good health. If you want to purchase a plan, though, specialists can decipher the most relevant policy to your needs.

Prospective policyholders over 60 must consider that private health insurance coverage becomes more limited as they age. Some insurers will not renew your policy at all, begging the question of whether there’s an age limit.

Is There an Age Limit?

It’s not uncommon for insurers to not offer policies after the general retirement age of 65. However, that’s not the case with all of them. Some will provide new terms beyond the age of 65 and even 70.

There’s no strict age limit for health insurance for those over 60. The policies provided are at the discretion of the insurer. But almost all offered insurance plans will have significantly higher premiums than those when you are younger.

Would it be worth the investment for health insurance when the NHS is available if these costs are so expensive?

Is Health Insurance for Over 60 Worth the Investment?

We compare plans from the leading health insurance providers

The primary argument for investing in a health insurance plan over 60 is that you will have treatment immediately with an increased risk of illness, injury, or disease.

Private healthcare plans are a more accessible, comfortable way of getting medical care and avoiding the disadvantages of the NHS. Many older people enjoy the concept of having top-quality treatments and consultations when they may need them most in their lives. That notion justifies the expense of the premiums, and we’ll elaborate further in the ‘benefits’ section.

What Coverage Do I Get in Over 60s Health Insurance?

The coverage offered in most health insurance cover plans for over 60 is private medical care for acute, treatable conditions. The insurer will cover expenses for most inpatient, outpatient, and daycare.

Insurers vary on the extent of coverage offered, especially since you are over 60. It’s essential to discuss what will get covered with your health insurance providers and outline your needs according to the policy. Generally, the private health insurance pays for the following:

Inpatient Treatment

Inpatient treatment refers to procedures that will require a hospital bed. The coverage will extend only to acute conditions with a root cause known as treatable. Your expenses for overnight stays in medical facilities will generally have coverage.

Outpatient Care

Outpatient care is medical consultations and treatments that don’t require a hospital bed. These include diagnostics and medical tests such as CT scans, X-Rays, blood tests, and more.

Day Care

Day care is where a hospital visit limits today, having procedures and care that don’t require hospital beds. Again, these are limited to acute conditions.

Should your proposed plan not cover the extent of your needs or concerns, insurers offer a series of add-ons for your overall policy. The premiums would be more expensive but may be worth the investment for peace of mind.

Additional Add-Ons

The add-ons include:

  • Cancer cover with access to leading-edge cancer drugs
  • Therapies such as physiotherapy
  • Dental and optical care
  • Mental health support
  • Wider choice of private medical facilities
  • Private GP appointments and specialist referrals.

Consider your circumstances and outline with our insurer what you’d like covered. There are some things that over 60s health plans will not generally cover, in any case.

What Doesn’t Have Coverage in Health Insurance for Over 60s?

Like most other health insurance policies, chronic and pre-existing conditions do not have coverage in over 60s health care plans. The insurance addresses unexpected illness, injury, or disease for those considered good health.

Some policies will offer options to include them in the coverage. However, as you are an older person, it’s more unlikely that you’ll find a plan that covers chronic and pre-existing conditions.

What are the Benefits of Health Insurance for Over 60?

As premiums are more expensive than those younger than 60, and coverage may find more limitations, you might weigh up the benefits of whether health insurance for over 60 is right for you.

Advantages of private medical insurance in parallel with NHS access include:

  • Avoiding lengthy NHS queues when illness or injury pose a higher risk as an over 60
  • Choosing the hospital you’d like to have treatment – possibly one closer to your place of residence
  • You can get medical treatment, consultations, and recovery in private rooms
  • Unrestricted visiting hours from friends and family should you require a hospital stay
  • Accessibility to various specialists and medications not typically found on the NHS

Your right to use the NHS is always there, even if you opt into private health insurance cover. Paring a plan with public health care access means having peace of mind. You’ll have a consultation, diagnosis, and treatments for acute issues no matter the circumstances.

How Much Does Health Insurance for Over 60 Cost?

You’ll probably wonder the meaning behind the ‘higher premiums’ mentioned throughout this guide. What exactly does that mean in health insurance for over 60?

The higher risk of illness, injury, or disease usually means that price-determining factors don’t consider the monthly premium. Again, this can vary by insurer, but you’ll most likely find policies broken down into three tiers of coverage.

We define each tier, what they generally cover, and the UK average cost:

Basic

  • Inpatient care has coverage
  • No outpatient treatment
  • Average monthly premiums are around £51 a month

Medium

  • Inpatient care covered
  • Outpatient care covered up to £1000
  • Average monthly premiums are around £78 per month

Comprehensive

  • Complete inpatient care covered
  • Unlimited coverage for outpatient care
  • The average monthly premium is £105

While comprehensive coverage would take care of everything available in an over 60s private medical plan, you may feel it won’t be necessary given the expense. Specialists are available to walk you through your health insurance options to ensure your project touches all bases.

A Summary of Health Insurance for Over 60

Find below a summary of this guide for health insurance for over 60:

  • Private health insurance policies are available to over 60s, but more expensive
  • It’s worth the investment for fast access to top-quality care
  • Inpatient, outpatient, and daycare for acute conditions have coverage with optional add-ons
  • Benefits include eliminating waiting times and more comfortable care
  • Cost range between £51-£105 per month depending on care

Do you have any more questions, queries, or concerns about over 60s health insurance? Discuss them with your health insurance providers to ensure you completely comprehend the policy before investing.

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