Keys to deciding whether private health insurance is worth it

Public or private healthcare? In many countries, out of necessity, because they don’t have a good health system like Spain, or because they have a culture of private insurance, there is no debate. However, our country is gradually increasing this mix, mainly due to competition and the subsequent price war and growing waiting lists.

The average Spaniard continues to place almost blind trust in public health care for serious illnesses and delicate operations, but is increasingly choosing private health care. to be able to access a specialist more quickly and easily and not wait in queues or lists, although this is not always the case even through private services. So is it worth taking out private insurance or not?

What is private insurance and what does it offer you?

Like any insurance, it is a policy that you sign with certain conditions and which in this case provides you with a health service that will depend on the type of contract and cover that you choose within the package and/or individually, according to your needs. Therefore, You can hire anything from simple primary care to a complete package with all types of consultations and interventions.

In any case, if you can afford it or want to be fully covered, you can take out different insurances, with deductibles or without deductibles being the most common, although there is also reimbursement.

What is replacement insurance?

It’s like a insurance for insurance, this means that you can visit a consultation or a specialist of your choice, outside the medical list already offered by your insurer, paying for the service provided to you. After that, you will only have to request a refund from your insurer so that they can refund you the corresponding amount, which will be determined in the general and specific conditions of the insurance policy.

Refunds are usually made within 5 to 15 business days. The company can take care of a maximum of 80-90% depending on the agreed conditions. Plus, you have a set limit, so if you go over that budget, you’ll have to take care of 100% of your medical expenses.

Services included in the insurance

Of course, insurance without a commission is more expensive, but you don’t have to worry about additional costs. What you should keep in mind is to include the minimum services because it doesn’t cover everything public health, such as dental health, therefore regardless of what insurance you do, including dental insurance. Considering lifetime costs, it pays off.

It should also include your private insurance, good maternity and delivery benefits, hospitalization and surgery. What you should not forget is always the waiting period, i.e. the time from when you sign up for the policy until you can start using the service. Special care, of course, with pregnancy.

The complicity dilemma

If you want to spend as little as possible or if you are in good health, insurance with a deductible is the best for you, from The extra amount to pay is usually not excessive. For example, a general or pediatric consultation costs about 7 euros on average; emergency, about 14 euros; diagnostic test, between 11 and 45 euros, depending on its complexity; or rehabilitation and physio, about 5 euros.

As you can see, it can be worth it, just like in the case of a physiotherapist, who will cost you between 30 and 100 euros for any private consultation without insurance, depending on the service.

Advantages of private insurance versus social security

Above all, and this is the main goal or idea of ​​the average Spaniard when hiring him, is to save waiting time, especially with specialists, even though they are such. Being able to choose a center and doctor is also valued. You will thus be able to go to a doctor in another autonomous community, even if you are not registered in their health system. It’s also perfect if you’re traveling.

And of course, Private insurance covers everything that public health does not: dentist, physiotherapist or psychologist, at zero cost without a co-pay or very cheap with a co-pay. Keep in mind that this may be what you use and need the most for a large part of your life, especially the first two, although the third option is increasingly desirable.

Who should or should not take out private insurance

First, the profession factor. If you are self-employed, private insurance may be appropriate, especially if you suffer an injury or accident during the working day.. Also for elderly people, for pathological conditions and diseases where time is more important than ever, and for women who want to have children, if you wait for gynecological consultations.

If you’re young and never see a doctor because you hardly ever get a cold all year, private health insurance doesn’t make sense anyway, unless you consider that in the event of a surprise, you don’t have to suffer waiting lists that could be the key to stopping or preventing illness its worsening due to the fact that you could not see a specialist earlier.

Is family insurance suitable in this case?

There is no greater peace than your family covered in every way and with all types of insurance and the doctor is no exception. With family insurance, you can cover expenses that It can be around double or slightly more than individual insurance.but covers the whole family unit with useful coverage for the oldest and youngest.

Most companies offer promotional packages in their family health insurance with discounts that can be up to 30% for each insured, although it is more difficult to get it right, balance all the services that everyone is interested in, etc. Whether for deductibles, arrears or family, you have comparators split hairs and decide on the best option at the best price.

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