Private medical insurance
What is Private medical insurance?
Private medical insurance (PMI) is an effective way of ensuring your team get access to comprehensive healthcare. In the UK, PMI is often offered by employers as an alternative to services offered on the NHS.
Private medical covers healthcare expenses like GP appointments, hospital stays, prescriptions, tests, and preventive care. It may also cover some mental health and dental care, depending on your selected policy.
Why should you offer private medical insurance?
Private medical insurance is fast becoming a base level benefit that many employees expect their employer to offer. Here are some of the reasons why it's great!
Benefits to employees:
- Employees get to skip long wait times to be seen by a medical specialist.
- Can often add dependents to their plan, meaning their relatives will benefit from healthcare too.
- Peace of mind that they'll have access to top tier healthcare at a private facility should they become unwell.
- Higher quality of care and attention from healthcare professionals.
Benefits to you...
- Happier and healthier employees!
- Reduced absenteeism as employees will be able to resolve any healthcare matters fast by skipping long wait times.
- Improved employee retention. PMI as a benefit is designed to be sticky — employees are less likely to switch jobs if their healthcare is linked to their employer.
- Attract top talent. Private medical insurance is a highly competitive and popular employee benefit — offering a great policy will be attractive to talent.