One PMI’s Take on the Budget 2018

13th December 2018
budget briefcase

Could the NHS have wished for a better 70th birthday present? When Theresa May declared an extra £20.5 billion a year by 2023-24, we were all intrigued to hear more. The Chancellor of the Exchequer confirmed the sectors to be targeted.

On Monday 20th October 2018, Philip Hammond delivered an hour-long address to the House of Commons outlining the Conservative Party’s plans behind the Autumn Budget. In regards to the Nation Health Service, we learned that the Autumn Budget would target areas such as mental health and social care.

We frequently hear about the struggles of mental health services. Matt Hancock, health and social care secretary, reports that mental health support has been failing over the last 6 years. The budget will provide an extra £2bn for support in A&E departments, a 24 hours crisis service and a much-needed cash injection towards specialist ambulance services. Mental health difficulties can arise for unknown reasons and even if we have family support it can be something better dealt with through a professional. As a nation, we have buried our head in the sand about this issue for long enough.

The other area in the spotlight for funding is social care. As British culture has developed, many of us tend to dispense ourselves across the country, rather than historically settling a stone’s throw from our family. Many of us have been affected by the lack of resources towards the older generation. As such, the NHS have picked up the responsibility for this over the years, whether it be medically or socially. The conservatives have now identified this issue and aim to put the appropriate funding in place.

We all know what an invaluable service the NHS provides to our country. While it continues to survive under pressure, many citizens are eager to help alleviate some of their burdens. The availability of health insurance predates the NHS. It works to cover any unexpected conditions that require treatment. While only 10.5%* of the UK’s population has a private medical insurance policy, an increase in the use of private medical services could drastically reduce the strain on the NHS.

It is a common misconception that private medical insurance (PMI) is unaffordable. The cost of PMI dependent on your age and postcode. Private medical insurance is flexible in terms of limits of cover. Our dedicated team can assist in setting limits to keep your premium low, with cover tailored for you.

Get in touchwith our team to find out more.

*Source: UK Parliament (2017)

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