Health insurance premiums
Understand health insurance premiums, how they work, and how they’re
calculated.
Edited by Hannah Ramsden,
health insurance expert at Bupa
Last updated 30 October 2024
2 minute read
What is a health insurance premium?
Your health insurance premium is the amount you pay each month or each year for your health cover.
This price is based on your age, level of cover, and a few other key factors, including the excess you choose.
Your insurer will review your price when it’s time to renew. If you’ve made any changes, this may affect your premium.
How are my health insurance premium costs calculated?
All health insurers work out the cost of premiums differently. But often, the price you pay for cover is based on a number of key factors.
Factors that affect price
- Age – Prices are higher for older customers.
- Where you live – Healthcare costs are different around the country. Your price reflects the cost of care where you live.
- Whether you smoke – Cover will cost more if you smoke.
- Your BMI – Some insurers offer discounts if you have a BMI within a certain range.
- Who you cover – Some insurers offer discounts for couples or family policies.
How does excess affect the price of health insurance?
Excess is what you agree to pay towards your treatment costs when you make a claim.
As an example, if treatment costs £3,000 and you have an excess of £500, you will pay £500 and your insurer will pay the remaining £2,500.
You can keep your premiums lower by choosing a higher excess amount. Choosing a lower excess amount will increase your premiums but will cost less when you claim.
Existing customers
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Health insurance guides
Health insurance excess
Learn how excess works and how much you should pay.
How to choose health insurance
Learn what to look out for when comparing cover.
How much is private health insurance?
See example costs and how price is calculated.
How to make health insurance more affordable
See example costs and how price is calculated.
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Bupa health insurance is provided by Bupa Insurance Limited. Registered in England and Wales with registration number 3956433. Bupa Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Arranged and administered by Bupa Insurance Services Limited, which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales with registration number 3829851. Registered office: 1 Angel Court, London, EC2R 7HJ.
