Over 70% of people considering private healthcare intend to pay for it "on demand" rather than take out a private healcare policy, according to Legal & General
Over 70% of people considering private healthcare intend to pay for it "on demand" rather than take out a private healthcare policy, according to Legal & General.
Research by the company shows people are seriously underestimating the cost of treatment, and will consequently face greater financial burdens than they realise.
The research, part of the Legal & General Consumer Intentions study, asked people to estimate the cost of private treatment for a variety of conditions.
When asked to estimate the cost of a knee operation, only 3% of respondents guessed correctly.
Legal & General said the majority of people asked expected to pay for treatment from savings and current accounts, credit cards or by borrowing from family and friends.
Steve Bryan, head of healthcare development at Legal & General said: "It is extremely worrying that so many people who might want to use private healthcare have underestimated the cost of paying for treatment. Most people will not have thousands of pounds immediately available, or a credit card that will stretch that far."
He added: "We would strongly recommend anyone who might like to go private to consider a private healthcare policy to cover the costs."
