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Moneyfacts Private Medical Insurance Star Ratings announced

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Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
13/04/2022

A stellar year for the Moneyfacts Private Medical Insurance Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Private Medical Insurance.

  • The number of private medical insurance products achieving a Five-Star rating has fallen slightly by one, with the same fall for the number of Four-Star products.
  • Over 80 fields of information per product were collected for assessment.
  • Between 2021 and 2022 the size of the market has fallen by 4%.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing private medical insurance. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

A stellar year for the Moneyfacts Private Medical Insurance Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Private Medical Insurance.

  • The number of private medical insurance products achieving a Five-Star rating has fallen slightly by one, with the same fall for the number of Four-Star products.
  • Over 80 fields of information per product were collected for assessment.
  • Between 2021 and 2022 the size of the market has fallen by 4%.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive charges, which set them apart from the rest of the market.

The instantly recognisable Moneyfacts badge of quality has for over 30 years helped inform consumers comparing private medical insurance. About nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group plc, Financial Services online consumer survey 4/21).

This year’s Five-Star awarded providers include:

AXA Health, Saga, VitalityHealth and WPA.

 

FOR THE FULL LIST OF 2022 AWARDED PRIVATE MEDICAL INSURANCE PRODUCTS, PLEASE CLICK HERE.

This year’s Five-Star awarded providers include:

AXA Health, Saga, VitalityHealth and WPA.

 

FOR THE FULL LIST OF 2022 AWARDED PRIVATE MEDICAL INSURANCE PRODUCTS, PLEASE CLICK HERE.

Lee Tillcock, Editor of Investment Life & Pensions Moneyfacts, said:

“The demand for quality, yet affordable, treatment options continues to grow and we are all aware of the pressures currently being placed upon the NHS. Set against this backdrop, the need for private medical insurance (PMI) has arguably never been greater. While a number of innovations and a greater range of additional benefits have made PMI a more compelling product, they have also made it arguably more complex. The Moneyfacts Private Medical Insurance Star Ratings help customers direct their focus and make an informed decision, by highlighting the most comprehensive products on the market.”

Lee Tillcock, Editor of Investment Life & Pensions Moneyfacts, said:

“The demand for quality, yet affordable, treatment options continues to grow and we are all aware of the pressures currently being placed upon the NHS. Set against this backdrop, the need for private medical insurance (PMI) has arguably never been greater. While a number of innovations and a greater range of additional benefits have made PMI a more compelling product, they have also made it arguably more complex. The Moneyfacts Private Medical Insurance Star Ratings help customers direct their focus and make an informed decision, by highlighting the most comprehensive products on the market.”

Numerous features are considered when assessing the ratings, and some of these include:

Numerous features are considered when assessing the ratings, and some of these include:

Private Medical Insurance

Private Medical Insurance

  • Maximum total cover (per year)
  • Compulsory excess (per year)
  • Specialist fees
  • Diagnostic tests
  • Physiotherapy cover
  • Psychiatric treatment
  • Radio/chemotherapy
  • CT, MRI & PET scans
  • Complementary therapy
  • Helplines
  • Prosthesis cover
  • Cancer drugs & therapy
  • Maximum total cover (per year)
  • Compulsory excess (per year)
  • Specialist fees
  • Diagnostic tests
  • Physiotherapy cover
  • Psychiatric treatment
  • Radio/chemotherapy
  • CT, MRI & PET scans
  • Complementary therapy
  • Helplines
  • Prosthesis cover
  • Cancer drugs & therapy
  • Palliative treatment
  • Stem cell and bone marrow transplants
  • Home nursing cover
  • Private ambulance
  • Parent accommodation
  • Dental cover
  • Optical cover
  • Travel cover
  • Pregnancy/maternity cover
  • Overseas cover
  • Wig cover
  • Consultation/specialist fees
  • Palliative treatment
  • Stem cell and bone marrow transplants
  • Home nursing cover
  • Private ambulance
  • Parent accommodation
  • Dental cover
  • Optical cover
  • Travel cover
  • Pregnancy/maternity cover
  • Overseas cover
  • Wig cover
  • Consultation/specialist fees

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

Notes to editors

Pioneering financial comparison technology for over 30 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

  • Personal Current Accounts
  • Personal Credit and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

 

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Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert