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What is the average cost of family health insurance in the UK?

As more and more people are looking for insurance cover during a pandemic, we are receiving inquiries from individuals and families alike. One of the questions that we get asked the most is regarding what families can expect to pay for health insurance in the UK. While we can easily offer you a free quotation, this Pacific Prime UK article offers a closer look at what the average cost of health insurance is in the UK to deepen your understanding. Note that the cost of private health insurance in the UK will differ based on your needs and from one insurer to another.

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What is family health insurance?

Family health insurance is a policy that provides private healthcare for all members of the family. Unlike individual health insurance, this type of plan can cover you, your partner and your children. Families that have this type of insurance can access treatment at a faster rate than on the NHS, which is the UK’s healthcare system.

Additionally, this type of policy gives you a wider choice of medical facilities, including hospitals and clinics, as well as locations. Family health insurance plans cover a wide variety of illnesses, injuries and symptoms you claim for along with the various forms of treatment.

Factors that affect the cost of family health insurance

In our 2022 Cost of International Health Insurance Report, the UK ranked as the twelfth most expensive country in the world. The average cost of family health insurance in the UK is USD $13,035. This marked an increase from USD $11,556 in 2021. Remember that this amount is only an average and your premium can vary significantly. After all, the cost of a family health insurance policy is based on several factors.

Some questions that will be asked to determine the cost include:

  • How many people will be on the policy?
  • What are the ages of each family member?
  • Where in the UK is the family located?
  • How many people on the policy are smokers?

In addition, other potential variables that will affect the cost include:

  • Private medical treatment costs
  • Preferred hospital list
  • The excess on the plan
  • The type of underwriting (inpatient and outpatient care)
  • The level of coverage
  • Optional add-ons

How to compare health insurance for your family

There are two main costs that you should check when comparing health insurance policies: the premium and the excess. The premium is the amount you pay annually, or monthly, for your policy. The excess, on the other hand, is the amount of the bill you pay yourself if you make a claim.

The average cost of family medical insurance tends to be higher if you have a large family, such as if the policy has to cover over three people. It’s always a good idea to check the average cost of health insurance for each person to make sure you’re actually saving. With that said, family plans usually include a discount for covering several people on a single policy.

Moreover, it’s important to check the age limits since some policies have a maximum age for children and adults covered. For instance, some policies only cover children under the age of 21 and adults under the age of 70. Be sure to check the limits before making your decision.

What to consider when shopping for family health insurance

Depending on your preferences and circumstances, family medical insurance costs can vary dramatically. Even so, it’s crucial to ensure that your family has coverage in case any unexpected healthcare costs occur. Medical emergencies and other healthcare costs can end up costing you and your loved ones large sums of money if you aren’t prepared.

Looking for the right family health insurance plan can be daunting and arduous. For instance, if you are wondering what the average health insurance cost for a family of 4 is, we can help you with a plan that meets your budget. Moreover, we can also help you and your family find the best private health insurance in the UK by comparing plans from the leading global and local insurance providers. What are you waiting for? Contact us to receive impartial advice and a free quote or plan comparison today.

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Content Creator at Pacific Prime UK
​​Jantra Jacobs is a content writer at Pacific Prime. On a typical workday, she writes and edits articles, guides, and anything else word-related. She loves creating content that is both easy to understand and enjoyable to read.

In her free time, she’s likely to be writing poetry and prose, geeking out on her latest interests, reading, or practicing yoga.