TL;DR
With private medical insurance (PMI) premiums in the UK on the rise, managing your renewal cost is crucial. As FCA-authorised brokers who have helped arrange over 900,000 policies of various kinds, WeCovr can guide you through smart changes that significantly lower your premium without sacrificing the core protection you need. 5 smart tweaks for your 2026 renewal Increasing excess, the 6-week NHS rule, and removing Central London Hospitals to save up to 40% As your 2026 private health cover renewal approaches, you’ll likely notice an increase in your premium.
Key takeaways
- Age-Related Increases: Statistically, the older we get, the more likely we are to need medical treatment. Insurers factor this increased risk into their pricing, typically applying an age-based increase each year.
- Medical Inflation: The cost of private medical treatment—from new drugs and advanced surgical techniques to hospital running costs—consistently outpaces general inflation. Insurers pass these rising costs on. In 2024 and 2025, medical inflation ran significantly higher than the Consumer Price Index (CPI).
- Your Claims History: If you have made claims on your policy, your insurer may apply a "claims-rated loading" at renewal. Conversely, if you haven't claimed, you may see your No Claims Discount increase, partially offsetting other rises.
- If the NHS waiting time is longer than six weeks, your private treatment is authorised immediately.
- If the NHS can provide the treatment within six weeks, you will use the NHS for that procedure.
With private medical insurance (PMI) premiums in the UK on the rise, managing your renewal cost is crucial. As FCA-authorised brokers who have helped arrange over 900,000 policies of various kinds, WeCovr can guide you through smart changes that significantly lower your premium without sacrificing the core protection you need.
5 smart tweaks for your 2026 renewal Increasing excess, the 6-week NHS rule, and removing Central London Hospitals to save up to 40%
As your 2026 private health cover renewal approaches, you’ll likely notice an increase in your premium. This isn't personal; it's driven by factors like your age, rising medical costs (known as medical inflation), and the increasing use of private healthcare services across the UK.
The good news is you are not powerless. You can take control of your premium by making intelligent adjustments to your policy. These tweaks allow you to share a small, manageable part of the risk with your insurer, resulting in substantial savings. This guide will walk you through the five most effective strategies.
Understanding Why Your Health Insurance Premium Increases
Before we dive into the solutions, it’s helpful to understand why premiums rise. There are three main reasons:
- Age-Related Increases: Statistically, the older we get, the more likely we are to need medical treatment. Insurers factor this increased risk into their pricing, typically applying an age-based increase each year.
- Medical Inflation: The cost of private medical treatment—from new drugs and advanced surgical techniques to hospital running costs—consistently outpaces general inflation. Insurers pass these rising costs on. In 2024 and 2025, medical inflation ran significantly higher than the Consumer Price Index (CPI).
- Your Claims History: If you have made claims on your policy, your insurer may apply a "claims-rated loading" at renewal. Conversely, if you haven't claimed, you may see your No Claims Discount increase, partially offsetting other rises.
Now, let's explore the five powerful ways you can counteract these increases and lower your 2026 premium.
Tweak 1: Increase Your Policy Excess
This is the simplest and one of the most effective ways to reduce your premium.
An excess is a fixed amount you agree to pay towards the cost of a claim each policy year. The insurer pays the rest. By choosing a higher excess, you are agreeing to take on a slightly larger portion of the initial cost, which reduces the insurer's risk and, in turn, lowers your premium.
Key Fact: Your excess is typically payable only once per person, per policy year, regardless of how many claims you make.
How Different Excess Levels Affect Your Premium
Let's look at an example for a 45-year-old individual with a comprehensive policy. The savings are illustrative but reflect typical market rates.
| Excess Amount | Estimated Annual Premium | Potential Saving (vs. £0 Excess) |
|---|---|---|
| £0 | £1,500 | 0% |
| £250 | £1,350 | 10% |
| £500 | £1,200 | 20% |
| £1,000 | £1,050 | 30% |
Broker Insight: Don't choose an excess you can't comfortably afford. The sweet spot for many people is £250 or £500. It provides a significant premium saving while ensuring the amount you'd have to pay in the event of a claim isn't a major financial burden. A £1,000 excess offers the biggest discount but be sure you have the funds available if needed.
Tweak 2: Add the '6-Week NHS Wait' Option
The '6-week NHS wait' option (sometimes called the NHS Six Week option) is a clever feature that can slash your premium by 20-25%. It creates a smart partnership between your private cover and the NHS.
How it works: If you need in-patient or day-patient treatment for an eligible acute condition, your PMI provider will first check the NHS waiting list for that specific procedure in your area.
- If the NHS waiting time is longer than six weeks, your private treatment is authorised immediately.
- If the NHS can provide the treatment within six weeks, you will use the NHS for that procedure.
Important: This option only applies to in-patient or day-patient treatment. It does not affect your access to private consultations, diagnostic scans (like MRI or CT), or out-patient therapies, which are often the most valuable parts of a policy for getting a quick diagnosis.
Scenario: Knee Surgery with the 6-Week Option
- The Problem: You develop severe knee pain. Your GP refers you to a specialist.
- Private Diagnosis: Your PMI covers an immediate private consultation with an orthopaedic surgeon and an MRI scan the following week. The diagnosis is a torn meniscus requiring surgery.
- The 6-Week Check: Your insurer checks the local NHS waiting list for this specific arthroscopic surgery.
- Outcome A: NHS wait is 14 weeks. Your insurer immediately authorises the surgery at a private hospital of your choice from your hospital list.
- Outcome B: NHS wait is 5 weeks. You will have your surgery on the NHS. You have still benefited from a rapid private diagnosis, bypassing months of waiting just to see a specialist.
This option is ideal for those who primarily want PMI to bypass long surgical waiting lists but are happy to use the NHS if it can provide prompt care.
Tweak 3: Refine Your Hospital List
Where you choose to be treated has a massive impact on your premium. Insurers group UK private hospitals into bands or lists, primarily based on cost. The most expensive hospitals are invariably in Central London.
Including a 'premium' hospital list that gives you access to facilities like The London Clinic, The Lister Hospital, or King Edward VII's Hospital can add 20-40% to your premium.
Key Fact: UK private medical insurance does not cover pre-existing conditions that you have had symptoms, medication, or advice for in the years before taking out the policy. It is designed for new, acute conditions that arise after your cover starts.
Typical Hospital List Tiers and Savings
| Hospital List Tier | Description | Typical User | Potential Saving (vs. Premium) |
|---|---|---|---|
| Premium / London | Includes all hospitals, including the most expensive ones in Central London. | Those who live or work in Central London and want maximum choice. | 0% |
| Standard / Nationwide | A comprehensive list of quality private hospitals across the UK, excluding the top-tier London ones. | The vast majority of UK residents. Provides excellent choice. | 15-20% |
| Local / Limited | A smaller, curated list of hospitals, often from a specific provider network like Spire or Nuffield Health. | Those looking for the lowest cost and happy with a more limited choice. | 25-40% |
Broker Insight: Unless you have a strong reason to require treatment in Central London, removing this option is one of the smartest savings you can make. The 'Standard' nationwide lists from major insurers like Aviva, Bupa, and AXA Health still provide access to hundreds of excellent private hospitals. You are not compromising on quality of care, only on location.
Tweak 4: Review Your Out-patient Cover
Out-patient cover pays for the diagnostic stage of your treatment—the part before you are admitted to a hospital bed. It includes:
- Specialist Consultations: Seeing a consultant like a cardiologist or dermatologist.
- Diagnostic Tests: MRI, CT, PET scans, X-rays, and blood tests.
- Therapies: Physiotherapy, osteopathy, and chiropractic treatment.
Most insurers offer different levels of out-patient cover. Reducing your cover level can lead to significant savings, but it's a trade-off.
| Out-patient Cover Level | What It Covers | Impact on Premium | Best For... |
|---|---|---|---|
| Full Cover | No annual limit on consultations or diagnostics. | Highest | Those wanting complete peace of mind and no financial surprises during diagnosis. |
| Capped Cover | An annual financial limit (e.g., £500, £1,000, or £1,500) is applied to all out-patient services. | Medium | A good balance. Covers the cost of 1-2 consultations and some initial tests. |
| No Cover | You pay for all consultations and diagnostic tests yourself. Your PMI only covers in-patient/day-patient care. | Lowest | Healthy individuals mainly concerned with the high cost of surgery, not diagnostic tests. |
Common Client Mistake: Removing out-patient cover completely can be a false economy. A single MRI scan can cost £700-£1,500 privately, and a specialist consultation can be £200-£300. A capped limit of £1,000 often provides the best balance of savings and meaningful protection.
Tweak 5: Switch Insurers (The 'Re-Broking' Strategy)
Never automatically accept your renewal quote. The private medical insurance UK market is highly competitive, and your current insurer's renewal price is rarely the best deal available. Another insurer might be eager for your business and offer a lower premium for equivalent cover.
However, switching must be done correctly to protect your cover for any medical conditions that have arisen while you've been insured.
This is where working with a specialist broker like WeCovr is vital. We manage this process for you at no cost. The key is the method of underwriting.
- Moratorium (Mori) Underwriting: This is the most common type for new policies. It automatically excludes treatment for any pre-existing conditions you've had in the last 5 years. This is risky if you're switching, as you could lose cover for conditions that developed under your old policy.
- Continued Personal Medical Exclusions (CPME) Underwriting: This is the correct way to switch. It allows you to move to a new insurer on the same underwriting terms you have now. Any conditions already covered by your old policy will continue to be covered by your new one. Any existing exclusions will also be carried over.
Key Fact: A CPME switch allows you to benefit from a new insurer's competitive pricing without losing any of your existing cover. This can only be done through a broker and is not available if you go to the insurer directly.
By reviewing the market each year, you ensure you are always on the most competitive premium. WeCovr can compare quotes from all the leading UK providers to find the best value for your specific needs. As a WeCovr client, you also get complimentary access to our AI-powered calorie tracking app, CalorieHero, and can benefit from discounts on other policies like life insurance.
Take Control of Your 2026 Renewal
Rising health insurance costs can be daunting, but you have powerful tools at your disposal. By strategically increasing your excess, adding the 6-week NHS option, refining your hospital list, adjusting your out-patient cover, and, most importantly, comparing the market, you can achieve significant savings.
The key is to make informed changes that trim the cost, not the essential cover. An independent broker can be your greatest asset in this process, providing expert guidance and access to switching options you can't get on your own.
Ready to see how much you could save on your 2026 renewal?
Will my premium always go up every year?
Generally, yes. Health insurance premiums tend to increase annually due to two main factors: your age (as the statistical risk of claiming increases) and medical inflation (the rising cost of private healthcare). However, if you haven't made a claim, your No Claims Discount may increase, which can partially offset the rise. The best way to combat consistent rises is to review the market with a broker each year.
What is the difference between a chronic and an acute condition?
This is a critical distinction in UK private medical insurance.
- An acute condition is a disease, illness, or injury that is likely to respond quickly to treatment and lead to a full recovery (e.g., joint replacement, cataract surgery, hernia repair). UK PMI is designed to cover acute conditions.
- A chronic condition is an illness that cannot be cured but can be managed with ongoing treatment, monitoring, or medication (e.g., diabetes, asthma, high blood pressure). Standard private health insurance does not cover the routine management of chronic conditions.
Can I reduce my cover mid-way through my policy year?
No, you can typically only make changes to your policy, such as increasing your excess or changing your hospital list, at your annual renewal date. This is why it's so important to review your options thoroughly before your policy renews for another year. A broker can help you prepare in advance to ensure a smooth transition to a more affordable plan.
