To spend £650 each month on health insurance?

(255 Posts)
startingallover Sat 16-Jan-16 23:52:33

£650 pays out monthly to cover me, dh and our four children. We can't really afford it but we're making it a priority over other things. Dh wants us to cancel and says it's a waste of money. He says we could put some money in a pot and use it if we needed to pay for treatment. I know this wouldn't happen though as we have actually reduced our bill lately and have to pay £250 excess per year. Since then we are being far more careful. Cancer runs in my family and I do worry about getting ill. The peace of mind of being able to go in and get checked the same week is worth the sacrifices we make. But dh really wants me to cancel it. It's a big payment each week but I can't bring myself to ring up and cancel it. AIBU?

BBQueen Sat 16-Jan-16 23:55:34

Are you in the uk? Is there a reason you wouldn't want to use the NHS?

BBQueen Sat 16-Jan-16 23:56:33

At first read of your post, I would say YABU but I suspect there's more to it

theycallmemellojello Sat 16-Jan-16 23:57:43

If you're in the uk, you're mad.

wickedwaterwitch Sat 16-Jan-16 23:57:44

It's a lot - why so high?

coffeeisnectar Sat 16-Jan-16 23:58:01

Yes, where are you? Because if you are struggling to fund it and could use the NHS then imo you need to cancel it.

wickedwaterwitch Sat 16-Jan-16 23:58:20

Tbh I would t be without it but we get it free with jobs so it's different to paying

SushiAndTheBanshees Sun 17-Jan-16 00:00:02

This is one of those things that's impossible to decide on based on pure logic. There will be algorithms out there to push you towards the right answer, but it can never be definitive. Health issues, especially of the ilk of cancer, are random.

Ultimately, you need to know (1) what the small print of your policy says for the costliest treatments (2) how much ready cash you could get your hands on in the event of two or more members of your family needing expensive treatment in the same year (including the breadwinner).

Also remember that premia only ever go up, insurance companies are fuckers, and if you are dealing with oncologists you don't want to be dealing with lawyers too.

Can you access the NHS? I can't (live abroad), pay slightly less than you would per month for a family of four. I'd give a lot for to have universal healthcare of the standard of the better bits of the NHS.

StarTravels Sun 17-Jan-16 00:00:12

I would keep the insurance, but shop around. It seems very high? How many people does it cover?

arethereanyleftatall Sun 17-Jan-16 00:00:13

That's a lot of money to pay out when we have a free nhs.
It wouldn't occur to me to have health insurance unless I was offered it as a work perk.

987flowers Sun 17-Jan-16 00:01:07

I'm guessing you can't be in the UK. If you are then yes it is unreasonable to pay such an amount if you are somewhere else then it depends on what is on offer

Akire Sun 17-Jan-16 00:01:28

I think the NHS gives any private company run for its money on most serious illness you would probable see the same DR private or NHS in a major hospital.

Is there an option if you did cancel and found a lump say where you could just pay a charge for any tests? Given most cancer tests are in weeks now not months probable only a few days in it. While of course you want to know ASAP its weighing up if it's £8000 year more important?

startingallover Sun 17-Jan-16 00:06:55

Yes, we're in the UK! The times we've used it we've been seen privately within a few days. We can't change to another provider because there would now be too many exclusions due to having various checks/treatment.

AliceInUnderpants Sun 17-Jan-16 00:08:23

So what is wrong with the NHS?

987flowers Sun 17-Jan-16 00:08:33

If you were to get cancer you would get no better service privately and I know this as a fact from personal experience so if this is your worry then stop your money!

ChipsandGuac Sun 17-Jan-16 00:08:45

I live in the US where a ridiculous amount of money goes to healthcare. A recent ER trip cost us $3000 altogether and that was WITH very good health insurance. So, if you're in the UK, I think you're bonkers! Make use of one of the things that Britain does well!

BackforGood Sun 17-Jan-16 00:09:22

Good grief. Unless you are actually rolling in it, and trying to look for things you could possibly waste spend money on each month, then, presuming you are in the UK I can't think of any earthly reason why I'd even spend 1/10th of that on health insurance. Makes no sense.

clary Sun 17-Jan-16 00:10:15

That is a vast sum of money then OP.

If it was spare cash to you <boggles at thought but it must be for some people> then whatever works for you, but you say you can't really afford it.

I couldn't either. That's more than I spend feeding and clothing my 3 DC each month. I would go with the NHS unless there is a lot more to this than you are saying.

Usernamegone Sun 17-Jan-16 00:10:15

The cost of your medical insurance seems very high? Do either of you of your DH employers have a corporate health insurance policy that you could pay to be added to. Where I work we get single cover BUPA but can add partners and children on (at our own cost) which would been under £100 per month.

theycallmemellojello Sun 17-Jan-16 00:11:01

Yeah, I can't understand why you would want private insurance for cancer. I can understand you might want to use it to skip waiting lists for small operations and to get seen by a gp whenever you feel like it. But if you've got cancer then you want to go to a big hospital with a specialist doctor, not some tiny private hospital.

Excited101 Sun 17-Jan-16 00:11:46

This is absolutely insane! Unless you're rolling in it, there's just no point! Why not put £500 into a medical expenses account and enjoy the remaining extra?!

pilpiloni Sun 17-Jan-16 00:11:45

It makes a lot more sense to take that money and save it rather than spend it on insurance which isn't a need.

multivac Sun 17-Jan-16 00:11:53

You are 'umming and ahhing' over whether you can afford £650 a month for "peace of mind"?

What are you cutting back on, to afford this not-entirely-necessary-payment?

Have you considered, I don't know, hypnotherapy?

Samantha28 Sun 17-Jan-16 00:12:13

Does your insurance cover all your cancer treatment ? Really ? Is that all in a private oncology centre or in a private wing of an NHS oncology hospital ?

OutToGetYou Sun 17-Jan-16 00:12:22

If you're really worried, just cover you and dp. Though I'd not bother with it.
NHS is great with kids stuff and the cancer care is also excellent now.

The things that take longer, well I recently chose to go private for a consultation on something and it cost me £150, I then slotted back into the NHS system with better information on the problem and it was totally worth it.

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