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Explaining Health Insurance for Over 70

Seniors’ health insurance over 70 is a recent development for many. Many insurers did not offer policies because of the risk of illness, injury, and disease of the age group.

With that all changing, many over 70 consider health insurance for themselves and partners for protection against acute conditions. This article explains all you need to know about health insurance for those over 70.

Am I Able to Get Private Health Insurance at Over 70?

Many insurers don’t offer policies past the age of 65. However, the industry has developed, and some specialized providers will provide private health insurance for over 70s.

Historically, private medical care plans were not available for senior citizens. However, the healthcare sector has seen changes that have allowed these services to be feasible.

There are some differences to policies for over 70s than for younger persons, in any case. That’s mainly in part to the increased risk of illness, injury, and disease at an advanced age.

Monthly premiums for policies will also be significantly more expensive than previous plans, should you have had private medical insurance before. The cost would leave many over the 70s wondering whether the price is worth the health insurance.

Is it Worth Getting Health Insurance Over 70?

We compare plans from the leading health insurance providers

There’s no necessity for anyone to get private health insurance at any age. The NHS is always available to render its healthcare services. That would weigh upon whether health insurance is worth the investment.

Many over 70 tend to take advantage of newly found access to private health insurance, given the specific benefits for personal medical care. Some of the critical factors that drive purchasing a plan include more comfortable hospital stays, skipping ahead of NHS waiting times, and leveraging other services the NHS doesn’t usually provide.

If you feel that you’d be more content with the option of private medical treatment should you fall ill or have an injury, health insurance for over 70s is worth the investment. We’ll elaborate on the benefits further in this article. However, you’re probably pondering what has coverage in an over 70s health insurance policy.

What Coverage Do I Get in an Over 70s Health Insurance Policy?

The coverage found in over 70s health plans would not be as extensive as those in younger categories. Generally, over 70s health insurance will cover inpatient, outpatient, and daycare for acute conditions only. Those are illnesses and injuries that are unexpected against your medical history and are treatable.

Insurers will allow over 70s to customize their plan depending on their coverage requirements. Most of the below will have some form of availability for coverage in policies:

  • Inpatient medical treatment
  • Outpatient care
  • Therapies
  • Cancer cover includes treatments with leading-edge drugs
  • Dental and eye care
  • Mental health support
  • Choice of medical facilities
  • Private doctor
  • Specialist referrals

The rule of thumb is that the more you want to cover, the higher the price of monthly premiums. We’ll look at the costs of policies further on in the article. But first, we’ll highlight what does not have coverage in an over 70s health insurance plan.

What Would Not Have Coverage?

A few things would not have automatic coverage in an over 70s health insurance policy. Those are:

  • Chronic conditions
  • Pre-existing conditions
  • Organ transplants

Note that over 70s health insurance usually only has full medical underwriting in the policies. That means that you will likely have to provide a complete medical history before being accepted into a plan.

How Much Do Over 70 Health Insurance Policies Cost?

Insurers can vary on what coverage they include in their policies, especially as over 70s health insurances is specialized. But it’s usually broken into three tiers of coverage, varying in price.

The different categories of over 70s health insurance are:

Basic

Basic level over 70s health insurance will only cover day care and inpatient treatment. That means you’ll only have coverage for your hospital visits that require overnight stays and day visits for appointments. This type of cover would be the least expensive, costing around £65 a month.

Mid-Range

The mid-range plan will cover inpatient treatment and outpatient care with a cap of around £1100 on the latter. This policy would see all your overnight hospital stays covered, with outpatient diagnostics and consultations covered up to the amount aforementioned. Policyholders can expect to pay £110 a month.

Comprehensive

Comprehensive medical insurance will cover the full suite of inpatient treatment and complete outpatient care in the terms agreed with your insurer. The whole nature of this policy means you will pay the highest premium of around £140 a month.

Are There More Affordable Options?

Health insurance cover for over 70 arguably is the priciest set of policies. However, there are ways to drive down the price of your premiums if you include specific terms in your plan. Those include:

  • No previous health insurance claims – If you’ve had an active policy for numerous years without ever making a claim, you’ll find eligibility for a discount.
  • Including excesses – If you’re willing to cover some of the costs of treatments, health insurance premiums will be lower. The more you pay yourself, the less the medical insurance.
  • Waiting periods – You agree with the insurer that you’ll use the NHS for treatments should they be available to see you within six weeks. If it’s longer or the treatment is not available, the insurer will cover the expenses of private medical care.
  • Limiting medical facilities – Limiting the hospitals you can choose between will lower the monthly costs.
  • Lifestyle – Proving that you lead an active and healthy lifestyle can make health insurance cheaper. You must prove to your insurer that you do not smoke and are in generally good health.

With possibilities to get a more affordable plan, you may still weigh up if the benefits outweigh the expense of health insurance for over 70s.

What are the Benefits of Private Medical Insurance for Over 70?

There are a wealth of benefits in over 70s private medical insurance despite the higher premiums you’ll need to pay. Advantages are:

  • Access to specialists – You’ll have the ability to get a second opinion or consult with experts about your condition.
  • Skip the waiting lists – If you need treatment for a condition, you won’t have to sit on an NHS waiting list for the procedure.
  • Choice of medical facilities – You’ll have more flexibility in having treatment.
  • Broader spectrum of treatments – You’ll have access to more medicines and specialist treatments that would not usually be available on the NHS.
  • Privacy – Should you require a hospital stay, you’ll have access to private rooms with open visiting hours.

A Summary of Over 70s Health Insurance

Find below a summary of this guide for over 70s health insurance:

  • Specialized providers offer health insurance for over 70
  • Comfort and peace of mind is the driving factor behind purchasing an over 70s policy
  • Coverage is limited, but there are many add-ons to customize your plan
  • Over 70s health insurance costs between £60-£140 a month depending on desired coverage
  • The main benefits of policies include faster treatments, privacy, and accessibility

Contact your broker or insurer if you still have any questions, queries, or concerns about health insurance for over 70s. They will have all the guidelines relating to their particular over 70s policies.

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