You are here: Home - Uncategorized -

Brits undervaluing health cover

0
Written by:
23/08/2006

Britons consistently underestimate the value of the healthcare treatments they receive on the NHS, according to new research by Legal & General.

The findings of Legal & General’s ongoing Health Uncovered Index show that Britons underestimate the cost of common medical treatments by over a third (38%), undervaluing the financial benefit of both the NHS and private medical insurance cover.

The cost of cataract removal was the most under estimated. Over two thirds (67%) of respondents thought the cost was £1,362, 58% below the actual value of £3,275. Britons would expect to pay £5,104 for a new hip and £4,107 for a new knee. However, the reality is that if they were to cover the costs of these procedures themselves, they would be looking at paying £8,530 and £5,130 respectively; 40% and 20% above their estimate.

Tessa Webster, Customer Services Director at Legal & General HealthCare said: “Few are aware of the actual costs of treatment should they need an operation, which only the minority could afford if they were expected to pay it themselves.

“The NHS and private medical insurance provide invaluable services which it would appear people may take for granted. Despite negative press coverage the service the NHS provides can be invaluable. But, for total peace of mind and quality service when you need it, private health insurance can provide an affordable way to budget for the cost of treatment.”
 
 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Car spending tops £36bn a year

Brits spent £36.4bn on purchasing new and used cars last year, new research from Halifax Unsecured Personal Loans has revealed.

Close