Martin Lewis's 2026 Private Health Insurance Tips
With NHS waiting lists a key concern for many, getting the right private medical insurance in the UK is a priority. At WeCovr, an FCA-authorised broker that has helped arrange over 900,000 policies of various kinds, we're here to help you navigate the market and find the best value cover.
Explore Martin Lewis's latest recommendations for saving money and getting better cover in 2026—including guidance on comparing quotes and practical cost-cutting strategies. Increase your excess—premiums drop if you agree to pay more per claim. Guided specialisthospital lists can make policies cheaper, too. — Martin Lewis, MoneySavingExpert
In 2026, the landscape of UK healthcare continues to evolve. While the NHS remains a cherished national institution, record waiting times for routine procedures mean millions are considering private medical insurance (PMI) for the first time. The financial guru Martin Lewis has long championed a smart, savvy approach to insurance, and his principles are more relevant than ever.
This guide breaks down his core advice, offering a clear, actionable roadmap to help you secure the right private health cover without overpaying. We'll explore how to tailor a policy to your needs, cut costs intelligently, and understand the crucial small print.
What is Private Medical Insurance and What Does It Actually Cover?
Before diving into cost-saving tips, it's vital to understand what private medical insurance is—and what it isn't.
PMI is an insurance policy designed to cover the costs of private healthcare for acute conditions that arise after your policy begins. An acute condition is a disease, illness, or injury that is likely to respond quickly to treatment and lead to a full recovery.
Examples of what PMI typically covers:
- Diagnostic tests like MRI and CT scans.
- Consultations with private specialists.
- Surgical procedures (e.g., hip replacement, cataract surgery).
- Hospital accommodation in a private room.
- Cancer treatment (this is often a core feature, but levels of cover vary).
Crucial Point: Pre-existing and Chronic Conditions Standard UK private medical insurance does not cover chronic conditions (long-term illnesses like diabetes, asthma, or high blood pressure that require ongoing management) or pre-existing conditions (any ailment you had symptoms of, or received advice or treatment for, before taking out the policy). PMI is for new, eligible medical problems, providing a fast track to treatment and bypassing NHS queues.
According to NHS England statistics, the waiting list for consultant-led elective care stood at around 7.6 million in September 2026. This figure highlights why so many are seeking the peace of mind that private health cover can offer.
Martin Lewis's Golden Rule: Never Auto-Renew, Always Compare
The single most important piece of advice from Martin Lewis for any type of insurance is to never simply accept your renewal quote. Insurers often save their best prices for new customers, a practice known as "price walking," where loyal customers see their premiums creep up year after year.
When your renewal notice arrives:
- Treat it as a benchmark, not a final offer. It's the price to beat.
- Shop around and compare quotes from the wider market. The provider that was cheapest for you last year may not be the most competitive this year.
- Consider using an expert PMI broker. A specialist broker, like WeCovr, can do the legwork for you. We compare policies from a range of leading UK insurers to find cover that matches your needs and budget, at no extra cost to you. Our expertise can help you identify a better policy or give you the leverage to negotiate with your current provider.
Tip 1: Increase Your Excess to Lower Your Premiums
This is a classic Martin Lewis money-saving tactic. An excess is the fixed amount you agree to pay towards a claim before the insurer covers the rest. For instance, if your excess is £250 and your private treatment costs £3,000, you pay the first £250, and your insurer pays the remaining £2,750.
The higher your excess, the lower your monthly or annual premium will be. Why? Because you're taking on a greater share of the initial financial risk, which reduces the insurer's potential payout.
Consider the trade-off:
- High Excess: Lower monthly cost, but a bigger one-off payment if you need to claim.
- Low (or Nil) Excess: Higher monthly cost, but little or nothing to pay when you claim.
Here’s an illustrative example of how excess can affect premiums for a 40-year-old non-smoker in London:
| Excess Level | Illustrative Monthly Premium | Potential Annual Saving (vs. £0 Excess) |
|---|---|---|
| £0 | £85 | £0 |
| £250 | £72 | £156 |
| £500 | £65 | £240 |
| £1,000 | £58 | £324 |
Actionable Tip: Choose an excess level you could comfortably afford to pay without causing financial hardship. For many, a £250 or £500 excess strikes a good balance between premium savings and affordability at the point of a claim.
Tip 2: Be Smart with Your Hospital List
Insurers group private hospitals into tiers or "lists." The list you choose has a significant impact on your premium.
- Premium / National List: This is the most expensive option. It gives you access to a comprehensive list of private hospitals across the UK, often including high-end facilities in Central London.
- Standard / Local List: A more affordable option that restricts your choice to a large but not exhaustive list of hospitals, often excluding the most expensive ones in Central London.
- Guided Specialist / Hospital List: This is typically the cheapest option. If you need treatment, your insurer will offer you a shortlist of 3-4 pre-approved specialists or hospitals to choose from. While it reduces your choice, it allows insurers to negotiate preferential rates, passing the savings on to you.
| Hospital List Type | Level of Choice | Cost Impact | Best For |
|---|---|---|---|
| National List | Widest choice, including top London hospitals. | Highest Premium | Those who want maximum flexibility and access to specific consultants or hospitals. |
| Local List | Good choice of hospitals outside Central London. | Medium Premium | People happy with a wide range of quality local and national options. |
| Guided List | Insurer provides a shortlist of options. | Lowest Premium | Cost-conscious individuals who trust their insurer to select high-quality specialists. |
For many people, a guided or local list offers more than enough choice and can reduce premiums by 20-30% compared to a full national list.
Tip 3: Consider a "6-Week Wait" Option
The "6-week wait" option is a clever way to slash the cost of your private medical insurance UK policy. It works as a hybrid between the NHS and private healthcare.
How it works: If you need in-patient treatment and the NHS waiting list for that procedure is longer than six weeks, your policy kicks in, and you can go private immediately. If the NHS can treat you within six weeks, you agree to use the NHS.
- The Pro: This option can reduce your premiums by up to 30%. You still get the key benefit of PMI—skipping long waits—but you don't pay for private treatment if the NHS is able to provide it quickly.
- The Con: You lose the ability to choose to go private for everything. It's designed as a safety net against long delays, not as a complete replacement for the NHS.
This option is ideal for those whose primary motivation for getting PMI is to avoid the lengthy waiting times currently affecting the NHS for many elective procedures.
Beyond the Basics: Advanced Ways to Tailor Your Cover
To truly get the best value, you need to understand the other levers you can pull to adjust your policy.
1. Choose the Right Level of Out-Patient Cover
Out-patient treatment refers to care that doesn't require an overnight hospital stay. This includes:
- Specialist consultations
- Diagnostic tests and scans (MRI, CT, X-rays)
- Minor procedures
Most insurers offer different levels of out-patient cover:
- Comprehensive: Covers all eligible out-patient costs in full. This is the most expensive option.
- Limited: Provides a fixed financial limit per year (e.g., £500, £1,000, or £1,500). This offers a great middle-ground, covering the most likely costs while keeping premiums down.
- Nil Cover: You pay for all out-patient consultations and diagnostics yourself. Your PMI policy would only kick in if you need in-patient or day-patient treatment (i.e., surgery). This is the cheapest option but means you'll have to self-fund the diagnostic phase.
Many people find a limited out-patient limit of £1,000 offers a fantastic balance, covering the initial consultations and scans needed to get a diagnosis.
2. Understand Your Underwriting Options
Underwriting is how insurers assess your medical history to decide what they will and won't cover.
| Underwriting Type | How It Works | Pros | Cons |
|---|---|---|---|
| Moratorium (Mori) | You don't declare your full medical history upfront. The insurer automatically excludes any condition you've had symptoms of, or sought advice for, in the last 5 years. However, if you remain symptom and treatment-free for a continuous 2-year period after your policy starts, the exclusion may be lifted for that condition. | Quicker and simpler to set up. No medical forms required. | Less certainty. A condition you thought was minor could be excluded at the point of claim. |
| Full Medical Underwriting (FMU) | You complete a detailed health questionnaire, disclosing your entire medical history. The insurer then tells you from day one exactly what is and isn't covered. Any exclusions are permanent. | Provides complete clarity from the start. You know exactly where you stand. | The application process is longer. Exclusions are usually permanent. |
Which is right for you?
- A moratorium policy can be great for younger, healthier individuals with a clean medical history.
- FMU is often better for those with a more complex medical history, as it provides certainty. An expert PMI broker can provide invaluable guidance here.
3. Add Only the Extras You Need
Insurers offer a range of optional add-ons. Only pay for what you think you'll use:
- Mental Health Cover: Increasingly important, this can cover psychiatric consultations and therapy.
- Therapies Cover: Pays for treatments like physiotherapy, osteopathy, and chiropractic care.
- Dental and Optical Cover: Usually provides a cash-back benefit for routine check-ups and treatments.
Why Use a Specialist Broker like WeCovr?
Navigating all these options can feel overwhelming. This is where a specialist, independent broker provides immense value.
Working with WeCovr means:
- Expert, Unbiased Advice: We are authorised and regulated by the Financial Conduct Authority (FCA). Our job is to represent your best interests, not the interests of any single insurer. We listen to your needs and recommend the most suitable policies.
- Whole-of-Market Access: We have access to policies from the UK's leading private health cover providers, including ones you might not find on comparison websites. This ensures you see the full picture.
- No Extra Cost to You: Our service is free. We are paid a commission by the insurer you choose, which is already built into the premium price. You pay the same price (or often less) than going direct.
- We Do the Hard Work: We handle the quote comparisons, explain the jargon, and help you fill out the application forms, saving you time and hassle.
- High Customer Satisfaction: Our clients consistently rate our service highly on independent review websites, praising our friendly, professional, and knowledgeable team.
Exclusive WeCovr Benefits for Our Clients
When you arrange your private health insurance with us, you get more than just a great policy. We offer our PMI and life insurance clients:
- Complimentary Access to CalorieHero: Our AI-powered calorie and nutrition tracking app to help you stay on top of your health goals.
- Discounts on Other Insurance: We can offer you preferential rates on other policies you might need, such as life insurance or income protection.
Staying Healthy: A Proactive Approach to Wellbeing
While private medical insurance is a fantastic safety net, the best way to manage your health and long-term insurance costs is to invest in your own wellbeing. Many PMI providers now actively reward healthy lifestyles with premium discounts or other perks.
- Balanced Diet: Focus on whole foods, fruits, vegetables, and lean proteins. A healthy diet can reduce the risk of numerous chronic conditions.
- Regular Physical Activity: The NHS recommends at least 150 minutes of moderate-intensity activity a week. This could be brisk walking, cycling, or swimming.
- Prioritise Sleep: Aim for 7-9 hours of quality sleep per night. Good sleep is crucial for mental and physical health, boosting your immune system and cognitive function.
- Manage Stress: Chronic stress can negatively impact your health. Incorporate mindfulness, yoga, or simple breathing exercises into your daily routine.
Taking proactive steps not only improves your quality of life but can also lead to fewer claims, which may help keep your renewal premiums more stable over time.
Frequently Asked Questions (FAQs)
Is private medical insurance worth it in the UK in 2026?
Will my pre-existing medical conditions be covered?
How can I find the cheapest but best private health cover?
- Compare quotes from multiple insurers—never just auto-renew.
- Increase your excess to a level you can comfortably afford.
- Choose a guided or local hospital list instead of an expensive national one.
- Consider a 6-week wait option to significantly lower premiums.
- Work with a specialist PMI broker like WeCovr. We can guide you through these options and compare the market for you, ensuring you get the right cover at a competitive price, all at no cost to you.
Take the Next Step
Feeling empowered with Martin Lewis's strategies is the first step. The next is putting them into action. The private health insurance market is complex, but you don't have to navigate it alone.
Let our expert team at WeCovr provide you with a free, no-obligation comparison of the UK's leading insurers. We'll help you build a policy that gives you peace of mind and excellent value for money.
[Get Your Free, Personalised PMI Quote from WeCovr Today]
Related guides
Why private medical insurance and how does it work?
What is Private Medical Insurance?
Private medical insurance (PMI) is a type of health insurance that provides access to private healthcare services in the UK. It covers the cost of private medical treatment, allowing you to bypass NHS waiting lists and receive faster, more convenient care.How does it work?
Private medical insurance works by paying for your private healthcare costs. When you need treatment, you can choose to go private and your insurance will cover the costs, subject to your policy terms and conditions. This can include:• Private consultations with specialists
• Private hospital treatment and surgery
• Diagnostic tests and scans
• Physiotherapy and rehabilitation
• Mental health treatment
Your premium depends on factors like your age, health, occupation, and the level of cover you choose. Most policies offer different levels of cover, from basic to comprehensive, allowing you to tailor the policy to your needs and budget.
Questions to ask yourself regarding private medical insurance
Just ask yourself:👉 Are you concerned about NHS waiting times for treatment?
👉 Would you prefer to choose your own consultant and hospital?
👉 Do you want faster access to diagnostic tests and scans?
👉 Would you like private hospital accommodation and better food?
👉 Do you want to avoid the stress of NHS waiting lists?
Many people don't realise that private medical insurance is more affordable than they think, especially when you consider the value of faster treatment and better facilities. A great insurance policy can provide peace of mind and ensure you receive the care you need when you need it.
Benefits offered by private medical insurance
Private medical insurance provides numerous benefits that can significantly improve your healthcare experience and outcomes:Faster Access to Treatment
One of the biggest advantages is avoiding NHS waiting lists. While the NHS provides excellent care, waiting times can be lengthy. With private medical insurance, you can often receive treatment within days or weeks rather than months.
Choice of Consultant and Hospital
You can choose your preferred consultant and hospital, giving you more control over your healthcare journey. This is particularly important for complex treatments where you want a specific specialist.
Better Facilities and Accommodation
Private hospitals typically offer superior facilities, including private rooms, better food, and more comfortable surroundings. This can make your recovery more pleasant and potentially faster.
Advanced Treatments
Private medical insurance often covers treatments and medications not available on the NHS, giving you access to the latest medical advances and technologies.
Mental Health Support
Many policies include comprehensive mental health coverage, providing faster access to therapy and psychiatric care when needed.
Tax Benefits for Business Owners
If you're self-employed or a business owner, private medical insurance premiums can be tax-deductible, making it a cost-effective way to protect your health and your business.
Peace of Mind
Knowing you have access to private healthcare when you need it provides invaluable peace of mind, especially for those with ongoing health conditions or concerns about NHS capacity.
Private medical insurance is particularly valuable for those who want to take control of their healthcare journey and ensure they receive the best possible treatment when they need it most.
Important Fact!
We can look at a more suitable option mid-term!
Why is it important to get private medical insurance early?
👉 Many people are very thankful that they had their private medical insurance cover in place before running into some serious health issues. Private medical insurance is as important as life insurance for protecting your family's finances.👉 We insure our cars, houses, and even our phones! Yet our health is the most precious thing we have.
Easily one of the most important insurance purchases an individual or family can make in their lifetime, the decision to buy private medical insurance can be made much simpler with the help of FCA-authorised advisers. They are the specialists who do the searching and analysis helping people choose between various types of private medical insurance policies available in the market, including different levels of cover and policy types most suitable to the client's individual circumstances.
It certainly won't do any harm if you speak with one of our experienced insurance experts who are passionate about advising people on financial matters related to private medical insurance and are keen to provide you with a free consultation.
You can discuss with them in detail what affordable private medical insurance plan for the necessary peace of mind they would recommend! WeCovr works with some of the best advisers in the market.
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