Fortunately when DH was working we got free private health insurance. We kept up a low cost (large excess) policy going for 10 years after he retired but then hit 70 and the premiums doubled.
We did the sums, calculated that over the 10 years we had had the policy we had paid £28,000 to the company and had £6,000 of benefits, so we cancelled the policy, opened a savings account that we call 'The Health Account' and each month we pay in to it the monthly amount we were paying to a private provider 6 years ago, we have felt no need to increase the amount.
Six years on, we have drawn small sums out to pay for cconsultations with a private doctor and a cataract operation, but the amount is accumulating and there is now enough to cover any need including hip replacement, but the money remains ours and if needed could be directed to other uses.