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Many people are now opting to go the private route and sign up for private medical insurance plans as the prices have dropped and are no more considered as exclusive for the rich and famous. Moreover, private health plans also provide benefits such as reduced wait timed for treatment, greater access and choice of specialists and facilities as well as convenience in determining the time of appointments, treatments and surgeries. Though it is known by various names such as private medical insurance, hospital plan, health plan, cash plan etc.. it all ultimately refers to assisting the insured with costs related to healthcare. However, there are some fundamental differences in principle between Private Medical Insurance and cash plans. They are: Private Medical Insurance plans typically pay for all the costs of treatments and stay in the hospital. There might be certain policies which impose a limit on the types of treatments covered and the number of hospitals where treatment can be undergone. Moreover, there are also different types of coverage such as basic, mid-range and comprehensive cover that are offered by various policies. The costs associated with these covers are directly proportional to the extent of coverage offered by the plans. The more you pay, the greater will be the choice of hospitals, doctors and typed of treatment covered by the plans. The insurer will pay the specialists invoices for consultations, diagnostic tests and treatments after the GP gives his referral. Private Medical Insurance plans are typically costlier options as compared to cash plans. Cash plans, otherwise known as hospital cash plans are cheaper alternatives to PMI. Cash plans provide coverage for routine and everyday medical expenses such as optical and dental bills. Cash plans are designed to complement the services provided by NHS. They are lower cost options that pay for recurring treatments as the claims are made several times in a year. A good example for this is regular visits to the dentist, optician or a physiotherapist. It also offers some additional benefits in the form of coverage for consultations and treatments that are typically not medicinal, such as physiotherapy, chiropractic treatments as well as alternative medicine treatments such as reflexology and acupuncture. Cash plans are more suitable for people who look to get maximum value within a restricted budgetary allowance. Cash plans are typically cheaper than PMI due to the fact that they pay for bills up until a certain limit as opposed to PMI which pays for the cost of treating a specific illness. Thus the premiums in cash plans are lower. There is also the option of opting for both to be completely covered. People subscribe for both PMI as well as supplement it with a cash plan. Thus, they are ensured that all their healthcare needs are comprehensively covered and provides a great sense of safety and security! Check out health protected site, which offers private health insurance UK from various other insurance companies and helps you professionally to find out the best choice of yours. It provides exclusive individual and family health insurance in UK.
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