The report, commissioned by the Independent Healthcare Provider Network (IHPN), found of those respondents that went private for treatment, 58% paid using private medical insurance (PMI) compared with 49% in 2023.
Separate figures from the Private Healthcare Information Network (PHIN) also showed a rise in patients paying for treatment. Newly published data for the first three months of 2024 saw the highest level of private admissions in a quarter ever recorded by PHIN. It also found the number of admissions funded by PMI increased in every English region from January to March this year compared with the last quarter of 2023.
While PMI can help pay for expensive private treatment, it isn't cheap and doesn't cover everything. Here, Which? takes a look at whether the perks of health insurance are worth paying for.
The cost of going private
Long NHS waiting lists mean many patients are choosing to pay private healthcare providers for diagnosis and treatment.
IHPN's survey found over one third of people would go private in the next 12 months if they needed treatment. More than two in five people who have gone private before went straight to pay for care rather than trying the NHS first.
A surprising number of young people are also willing to pay for medical attention, with 44% of 25 to 34-year-olds expecting to use private healthcare in the coming year. While more than half of all 18 to 24-year-olds who have used private healthcare in the past, did so to access private GP appointments.
Our research found that the cost of a private GP appointment can cost between £29 to £90, which you might think is worth it to be seen quickly.
However, paying for private treatment can burn a sizable hole in your pocket. For example, the average price of a knee replacement costs £13,412, according to recent data from health insurance provider WPA.
Find out more:.Is private medical insurance worth it?
Given the cost of going private, many people choose to take out a PMI policy.
Customers pay a monthly or annual premium, but those payments can soon add up and, if you're young and healthy, you may find you never need to claim.
We have weighed up the pros and cons of private medical insurance to help you decide if it is right for you.
Pros
Jump the queueWider access to some treatments Avoid big one-off costsBills are usually settled by the insurer Extra supportWellness perks ComfortCons
Expensive Not everything is coveredSome treatments may be extra The excess can be highPrivate doesn't mean betterWhich? Limited is registered in England and Wales to 2 Marylebone Road, London NW1 4DF, company number 00677665 and is an Introducer Appointed Representative (FRN 610689) of the following:
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source https://www.which.co.uk/news/article/more-patients-using-private-medical-insurance-what-are-the-pros-and-cons-aTGo63h5OYFB