Having trouble with affording your private medical care? These eight tips should help you to start saving the money to get the treatment you desire.
As a nation, we are so lucky that we have a system where medical care is, for all intents and purposes, free at the point of contact. This means that basic healthcare isn’t something that only a select few can afford; it is available to the masses.
That said, when it comes to elective medical treatment, for example surgeries, cosmetic retouches, and dentistry, funding the treatment may not be free. After all, there comes a point where the treatment may not come as part of the NHS, so funds will have to be at the forefront.
In this article, we’ll be taking you through eight ways you can better afford your private medical care. From getting in contact with medical negligence solicitors to saving of your own accord, there are a myriad of options. Take a look…
1. Set Up a GoFundMe Page
For some, treatment is something that may not be deemed essential, but could really add to a person’s quality of life. For example, cosmetic surgery after an accident, or surgery for chronic pain, could be all it takes for a person to start living properly again.
That said, not all treatments are covered under the NHS, and can cost hundreds of thousands of pounds. So, setting up a page where people can donate to your cause could really help. This way, you can appeal to friends and family to try and get some sort of pot building up in the background.
2. Treat it Like a Tax
In the UK, we all pay our taxes, which go towards ensuring everyone has access to medical care as and when they need it. That said, if you’re saving up for an elective surgery, why not treat your savings like a tax in itself too? This way, you can gradually save up the money you need to pay it off.
To do this, you first need to assess how much you’ll need to save to be able to afford the treatment. Then, set a realistic amount of money you wish to set aside each month on pay day. Set up a standing order into a savings account to make it as stress-free as possible.
3. Put Forth a Medical Negligence Claim
In some cases, you may have experienced some sort of medical negligence which leaves you requiring more treatment. It may also lead to a lower quality of life for you, as well as disability care, and the like.
If this is the case, you should seek the help of a medical negligence solicitor to help you put forward a claim for compensation. If granted, the compensation will likely cover any further medical costs, any lost earnings along the way, and any disability or living costs you may incur too.
4. Take Out Health Insurance
Some people choose not to use the NHS altogether, and may decide to use insurance to cover all private medical costs. This is because they might wish for speedier check-ups with a focus on their needs alone.
Basic insurance will usually pick up the cost of most in-patient treatments, like tests and surgery. Other policies may cover out-patient treatments, like specialist and consultant treatment. With this, you may have to pay a small, fixed amount for each night you spend in the hospital.
That said, health insurance doesn’t cover everything, so it’s best that you know what you’re getting if you want to go down this route. Some of the typical areas of medical care that aren’t covered by this include:
- Treatment for pre-existing medical conditions
- Pregnancy and childbirth
- Organ transplants
- Sport injuries
- War injuries
- Cosmetic surgery to improve one’s appearance
- Treatment for chronic illnesses
5. Local Authority Funding
For those who are growing too old to take care of themselves, and want to move into a care home, there are also options for you. The NHS does cover some bills, especially for those who have a complex medical condition or disability. That said, a lot of places require personal funding.
To ensure you can afford your elderly care, your local authority may be able to help. They can help you to fund a number of costs, including:
- Home modifications
- Equipment to help with daily tasks
Usually, they will only offer to pay if your savings and income is low.
6. NHS Low Income Scheme (LIS)
Even with the NHS subsidisation, prescription costs are usually always required to be paid by the individual. For those who truly can’t afford their regular prescription, for example for asthma or diabetes, you can apply for government help. This will be accepted if your income and savings is below the capital limit.
7. Personal Health Budget
For those who require more long-term NHS care, a personal health budget may do the job. This is an amount of money, agreed between you and your medical support, to help achieve your long-term health needs. This is essentially a way to assess where your funds should go, and how money should be spent differently to cater for your needs.
Borrowing money off of friends and family could also be the way to go. No one wants to see someone they love in pain, so choosing to take a loan from them which you can gradually pay back could work. This way, you can get treated ASAP, without the potential guilt you may feel from using gifted money instead.
Affording Your Private Medical Care Doesn’t Have to be a Stress…
As you can see, there are a number of methods you can use to subsidise your medical care. Whether you decide to save up yourself, or rely on the generous help of others, it’s up to you. You might even wish to use multiple methods to help rake together your funds more quickly.
Whatever method or methods you choose, we wish you luck in affording your private medical expenses. Get well soon!