Short answer: A cash plan refunds everyday, predictable costs — dental check-ups, eye tests, glasses, physio — up to fixed annual limits, from £7.20/month with no medical underwriting. Health insurance (PMI) covers unpredictable acute illness: private diagnosis, surgery and hospital treatment, from ~£42–£48/month for a healthy 30-year-old. They're complements, not substitutes — a cash plan will never fund an operation (verified July 2026).
For who: anyone unsure which product their actual spending pattern needs.
Reviewed by: Ben Darke, PMI Experts · Last updated: 2026-07-17
Reviewed by: Ben Darke, PMI Experts · Last updated: 2026-07-17
Key facts
| Cash plan prices | Medicash from £7.20/mo; Westfield £8.58; BHSF from £9.63; Simplyhealth from £23 (own sites, July 2026) |
| PMI prices | £42–£48/month provider examples for healthy 30-year-olds; £82.53 average across ages (2025–26 data) |
| Cash plan covers | Dental, optical, physio, chiropody, prescriptions — cashback to fixed limits (e.g. Westfield L1: £45 dental, £45 optical, £200 therapies) |
| PMI covers | Specialist consultations, diagnostics, surgery, hospital treatment, eligible cancer care |
| Underwriting | Cash plans: generally none; PMI: moratorium/FMU with pre-existing exclusions |
| Hospital reality | Cash plan hospital benefit is £11–£45/night pocket money (Paycare) — not surgery funding |
| Market sizes | PMI £7.02bn vs cash plans £479m (LaingBuisson, end-2024, published Oct 2025) |
Sources
Medicash, Westfield Health, BHSF, Simplyhealth and Paycare published prices (all July 2026); LaingBuisson Health Cover report (Oct 2025); provider PMI examples as dated.