New Ways of Paying for Health Care
Ian Youngman, April 2011, Pages: 100
We are all being urged to take greater responsibility for our health. This means physical and financial commitment. The three main ways of paying for healthcare are NHS, private health insurance and self-pay.
The NHS budget is stretched, and the individual private medical insurance market has struggled for years. Alternatives such as health cash plans and dental plans are a success.
There are two newer ideas in the UK that have both seen recent activity
- Hospital/medical treatment plans –where you get a cash sum for treatment and keep the difference if you get a cheap deal at home or abroad.
- Medical and dental membership plans where for an annual fee you get up to 20% off the price of dental and cosmetic surgery and other healthcare.
Larger insurance groups have snapped two of the main medical treatment plans providers up in recent weeks, while a third has left the market.
The US market leader for membership plans has entered the UK, as has an Irish company offering treatment in the UK and overseas.
In the USA, conventional insurance has often been replaced by health savings plans; could they work in the UK?
This report ‘New ways of paying for healthcare – medical treatment, health and savings plans:”is part of a new series of short reports looking at new products and products with potential in the UK financial services sector.
Strategic overview
Health insurance in the UK
The need
The private health market
NHS Reform
The private health market view on NHS reform
NHS and private patients
Welfare reform
Sickness absence reform
The OFT review of the private healthcare market
The gender ruling
The new age laws
The health insurance market
Profiles of leading providers in health insurance
Profiles of providers of medical treatment plans
Profiles of providers of medical and dental membership plans
Product overview
Competing products
Why dental membership plans are not dental insurance
What membership plans can cover that health insurance cannot
What medical and hospital treatment plans offer that PMI cannot
Health savings accounts in the USA
Health savings accounts in the UK
Product profiles of all known UK medical and hospital treatment plans
Product profiles of all known UK medical and dental membership plans
Product profiles of withdrawn UK medical /hospital treatment/membership plans
The potential
Conclusions
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