Saturday, January 5, 2013

0 Under 40s in North West pay most in UK for private health insurance, despite increase in premiums

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COSTLY: Higher premiums in the North West

Posted Saturday, January 5, 2013 - 04:50

By Helen Le Caplain

Younger people in the North West pay the most in the country for private health insurance, according to research by a price comparison website.

ActiveQuote revealed that Wigan has the highest average annual premium at £1,450 a year for under 40s, closely followed by Stockport at £1,390 and Blackburn at £1,309.

In contrast, Dundee has the lowest average annual premium of just £609 a year.

Dr Richard Theo, Managing Director of ActiveQuote, said that claims in the local area have an effect on what consumers pay.

He said: “Insurers look at claims statistics in the local area when calculating premiums, which means that where you live may affect the cost of your health insurance."

This disparity in premiums comes at a time when private health insurance for younger people is at an all-time high.

The website analysed 84,801 people who had found health insurance quotes on their website between January 2010 and November 2012.

Their figures reveal that since January 2010 there has been a 22% rise in people under the age of 40 enquiring about private insurance.

In 2010, just 29% of people getting health insurance quotes were aged below 40, however this figure had increased to 43% by 2011, and 51% by 2012.

Dr Theo said he believes there are a number of reasons why younger people are showing more of an interest in health insurance.

He said: “Over the past year the NHS has come under heavy scrutiny from the media.

"It is possible that the press is raising awareness of the benefits of having private medical cover among people who may not have considered it before.”

ActiveQuote found that people in their late twenties showed the biggest rise in interest in the product.

In 2010, people aged 25 to 29 made up just 6% of health insurance enquiries online. By 2012, the figure had more than doubled to 13%.

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Picture courtesy of Sonia Belviso, with thanks.


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