Last Updated on February 20, 2025 by ClinicNearMe
If you’re a small business owner in the UK, your health is vital to your success. While the NHS offers free healthcare, long waiting times for treatments can disrupt your work and income. Private health insurance for business owners gives you faster access to care, more treatment choices, and peace of mind. In this guide, we’ll explain how private health insurance works, what it covers, and why it might be the right choice for you. We’ll use simple language so everyone can understand, even if English isn’t your first language.
What Is Private Health Insurance for Small Business Owners?
Private health insurance is a policy you buy to cover private medical treatments. Instead of relying on the NHS, you can use private hospitals and specialists. This means shorter waiting times for appointments, tests, or surgeries. For example, if you need a knee operation, the NHS waiting list might take months, but with private insurance, you could have the surgery within weeks.
This type of insurance is designed for self-employed people, freelancers, or small business owners with no employees. It focuses on your health needs, but you can often add family members (like a partner or children) to the policy for extra cost.
How Does It Work?
- Choose a Provider: In the UK, popular insurers include Bupa, AXA Health, and Aviva. You can compare plans online or speak to a broker.
- Pick a Plan: Most insurers offer different levels of coverage. For example:
- Basic Plans: Cover hospital stays, surgeries, and cancer treatments.
- Mid-Level Plans: Add extras like mental health support or physiotherapy.
- Comprehensive Plans: Include dental care, eye tests, and alternative therapies (e.g., acupuncture).
- Pay Monthly Premiums: The cost depends on your age, health, and the coverage you choose. For example, a 40-year-old might pay £80–£150 per month.
- Use Your Insurance: If you need treatment, contact your insurer. They’ll approve your claim and arrange care at a private hospital or clinic.
Key Benefits of Private Health Insurance
- Skip NHS Waiting Times
The NHS is excellent, but it’s very busy. In 2023, over 7 million people in England were waiting for hospital treatment. With private insurance, you can get seen faster. For example:- An MRI scan on the NHS might take 6 weeks, but privately, it could happen in 3 days.
- A hip replacement might take 12 months on the NHS vs. 2–4 weeks privately.
- Choose Your Specialist or Hospital
Private insurance lets you pick where and who treats you. For instance, if you prefer a hospital closer to home or a specialist with great reviews, you can choose them. - Cover for Serious Illnesses
Most plans cover cancer treatments, heart surgeries, and other major health issues. Some even offer access to new drugs or therapies not yet available on the NHS. - Mental Health Support
Many plans now include counselling or therapy sessions, which is crucial if stress from work affects your mental health. - Tax Benefits
If you buy insurance as a business expense (not a personal plan), you might claim tax relief. Talk to an accountant to see if this applies to you.
Who Is Private Health Insurance Best For?
- Solo Business Owners: If you work alone (e.g., freelancers, consultants), this ensures you stay healthy to keep earning.
- People with Ongoing Health Issues: If you have a condition like arthritis, private care can help manage flare-ups faster.
- Those Wanting Family Coverage: Add your partner or kids to your plan for extra security.
What’s Not Covered?
Private insurance doesn’t cover everything. Common exclusions include:
- Pre-Existing Conditions: Most insurers won’t cover illnesses you had before buying the policy (e.g., diabetes diagnosed last year).
- Routine Check-Ups: Basic plans might not pay for GP visits or NHS-style health screenings.
- Cosmetic Surgery: Unless it’s medically necessary (e.g., after an accident).
Always read the policy details carefully!
How Much Does It Cost?
Costs vary based on:
- Your Age: Younger people pay less (e.g., £50/month for a 30-year-old).
- Your Health: Smokers or those with pre-existing conditions pay more.
- Coverage Level: A basic plan might cost £80/month, while a comprehensive plan could be £200/month.
Example: Sarah, a 35-year-old graphic designer, pays £90/month for a mid-level Bupa plan. It covers hospital stays, mental health therapy, and scans.
How to Choose the Right Plan
- Check What’s Included: Does it cover specialists, drugs, or therapies you might need?
- Compare Excess Fees: The “excess” is the amount you pay toward a claim (e.g., £250). Higher excess = lower premiums.
- Read Reviews: Look at customer ratings for insurers on sites like Trustpilot.
- Ask About Discounts: Some insurers offer lower prices if you pay yearly instead of monthly.
Case Study: A Small Business Owner’s Experience
James runs a bakery in Manchester. He bought private insurance after waiting 8 months for an NHS physio appointment for his back pain. With his Aviva plan, he saw a specialist within a week and got treatment. He says: “The insurance pays for itself because I can’t afford to close the shop for months. My health is my
business.”
Conclusion
Private health insurance gives small business owners control over their healthcare. It’s ideal if you want faster treatment, more choices, and less stress about NHS delays. Compare plans from UK providers like Bupa or Aviva to find one that fits your budget and health needs. By investing in your health, you’re also protecting your business’s future.
Yes! Private insurance works alongside the NHS. You can still use your GP for routine issues.
Some insurers exclude pre-existing conditions, but others might cover them after a waiting period (e.g., 2 years).
Only in comprehensive plans. Basic plans usually don’t cover dental.