PMI is available at a range of different levels of cover at various premiums designed to meet the needs of different customers. For example, you can have choices around the types of treatment covered, what level of cover will apply to those treatments, the location where your treatment is provided and the contribution you might be willing to make to the treatment cost (called ‘the excess’).
Private Medical Insurance (PMI) is designed to cover the cost of private
medical treatment for ‘acute conditions’ that start after your policy
begins.
A premium is the amount of money an individual or business pays to an insurance company for coverage. Health insurance premiums are typically paid monthly. Employers who offer an employer-sponsored health insurance plan typically cover part of the insurance premiums. If you need to insure yourself, you’ll be paying the full cost of the premiums.
It is common to be concerned about how much it will cost to purchase health insurance for yourself. However, there are various options and prices available to you based on the level of coverage you need.
When purchasing your own insurance, the process is more complicated than simply selecting a company plan and having the premium payments come straight out of your paycheck every month.