Our ‘whole of market’ broker will contact you to discuss your requirements, and help tailor a package to suit the needs of you and your company. We can usually provide a list of options and suppliers with details of the benefits for each of the options available. You can then choose which PMI package suits you best, and we can take things from there and get the benefit set up, and inform your employees of what is available and how to take advantage of the Private Medical Insurance benefit that you are offering to them.
The huge NHS backlog caused by the recent pandemic has ensured that there has never been a stronger case for taking out group private medical insurance (PMI) – which enables employees to obtain prompt treatment when there are long waiting times under the NHS
Providing a PMI scheme can enhance loyalty and aid recruitment and retention, and it can also directly benefit a company’s bottom line by slashing absenteeism and presenteeism costs
Employees do not have to spend months off work or to struggle on in pain whilst unable to function at anything approaching their maximum — also potentially having a detrimental impact on the morale of team members
Furthermore, treatment and other appointments can be arranged at times that suit the workloads of the employee concerned and of their colleagues. It may even be possible for recuperating individuals to work remotely from a private hospital room
The employer pays the entire PMI scheme premium (voluntary schemes are not available unless you have over 1,000 employees) but this does create a P11D liability for employees. Nevertheless, the fact that they are receiving something they are likely to value highly in the current health-conscious environment means this is not necessarily a big issue
The employee has the option to add their spouse/partner and/or children which can be paid by the employer or by the employee via deduction from salary
PMI schemes also come with a wealth of useful added-value features, such as confidential and impartial stress counselling 24/7 virtual GP services, wellness information and online physiotherapy and Cognitive Behavioural Therapy services
Most curable short-term medical conditions are insured under standard schemes, including COVID-19-related issues. In addition to operations, employees are normally covered for initial specialist consultations, scans and complementary therapies like physiotherapy, osteopathy and chiropractic
Employers can, however, opt to curb costs by cutting down on elements of cover. They may, for example, elect to take a sizeable ‘excess’ (the initial proportion of each claim the employee pays for themselves), or to opt for limited or no outpatient cover
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.