A recent report by the Royal College of psychiatrists warns that mental health services in the NHS could be adversely affected because of the governments new spending review. Mental health problems present a significant cost to both the NHS and private health insurance companies.
The report calls for significant investment in mental health services which it says will not only benefit the individual but also society and ultimately will save the country money. The report says:
‘Reducing sickness absence and promoting an early return to work following an episode of illness are important strategies as part of a public mental health policy.
Dealing with ‘presenteeism’ (going to work when unfit to work) and managing work environments so that they become healthier is also a significant challenge in a harsh economic climate where unemployment is a threat.’
Even though mental health services cost the government more than any other NHS sector many individuals, families and organisations agree with psychiatrists and are not happy with the resources that are available and would like to see an increase in provision.
Mental health issues are often not the first thing that people think of when considering medical insurance. However with an estimated 10% of people suffering with a mental health problem at any one time it is well worth considering. However once you have decided to look for a policy with psychiatric cover it is not as straightforward as you might think.
Due to the fact that many people suffer with mental illness of one form or another over the course of their lives it is an expensive type of cover for health insurance companies to provide. In effect this means that many private health insurance companies do not provide psychiatric health cover at all.
Some of the more expensive health insurers provide comprehensive cover which includes psychiatry. Some companies include it in their more expensive policies and others include it as an additional option which incurs an increase in your monthly premium. There is a great degree of variance between what different policies offer you as you can see in the examples below.
Pruhealth includes psychiatric cover in two of its health policies: Comprehensive and Select Core Value.
Comprehensive Health Insurance
Outpatient cover: combined £20,000 per year
Inpatient cover: combined £20,000 per year
Select Core Value Health Insurance
Outpatient cover: combined £7,000 per year with a sub limit of £759
Inpatient cover: combined £7,000 per year
Freedom Healthnet offers cheap health insurance cover and provides psychiatric health care as an optional extra as part of their top health insurance product, Platinum Plus.
Platinum Plus Health Insurance
Outpatient cover: £1,500 per policy year
Inpatient cover: a maximum of £10,000
Be aware that if a psychiatric condition becomes chronic then your health insurance company will not continue to cover your costs indefinitely.. Once a condition moves from the acute to the chronic stage then it is no longer coverable by any insurance company.