Pressure has mounted on the National Health Service this winter, due to various outbreaks of flu and other viruses leading to the cancellations of operations and over-crowding on hospital wards. Whilst not a panacea for emergency care, private medical insurance has consequently started to look considerably more attractive.
According to the Office for National Statistics, there are approximately 5.5m small to medium businesses in the UK employing nearly 16m people. However, the results of their survey showed that 75% of employers thought that their employees were critical to their success but only 14% actually provided their employees with health cover.
Illness and injury is now becoming a big issue for business. The Office for National Statistics estimates that the U.K. lost 137m working days in 2016 (31.2 million due to work related ill health and non-fatal workplace injuries)
Although minor illnesses such as coughs and colds are the most common cause of absence from work, the majority of the days lost are through musculoskeletal and mental health problems. The Health and Safety Executive estimates the average absence from work as;
• 23.8 days for mental health issues
• 19.8 days for ill health
• 17.6 days for musculoskeletal disorders
• 9.1 days for injuries
How would your company fare should a key member of staff go on long term sick leave?
Private medical insurance is designed to cover the cost of private treatment for short term curable injuries, long term illness and with some insurers even includes palliative care.
By offering private medical insurance as part of an employee benefit package it helps your employees get back on their feet as soon as possible, through early diagnosis and prompt access to medical treatment.
This also helps businesses with employee loyalty by reducing staff turnover. With immediate treatment available privately this should reduce absence from work considerably leading to increased productivity, a winner for employer and employee alike.
Benefits to the employer:
• Improved staff loyalty
• Improved motivation and productivity
• Improved employee retention
• Recruitment costs reduce due to improved staff retention
• Attracting talent to the business
Benefits to the employee:
• Dependent upon the way that the benefit is provided it can be less expensive than taking out cover privately
• Peace of mind
• Allows control with more choice and immediate access to private healthcare
• Provides rewards to stay fit and healthy
• Feeling valued by your employer
Brownhill Insurance Group is able to offer Private Medical Insurance for you and your employees. We can provide cover with various insurers who offer comprehensive “core” cover with flexible “additional cover” tailored to your requirements.
Market Innovation – Vitality:
We all know that staying healthy is important. Vitality, who are one of our key partners, not only protect you when things go wrong but help you lead a healthier lifestyle by encouraging you to be more active, to eat well and develop healthy habits.
Vitality has established partnerships to offer rewards to policyholders such as weekly cinema tickets, discounts gym memberships, slimming clubs, spa resorts, food & drink, sports clothing amongst others to help keep you on track and motivated!
If you already have coverage we can do an analysis for you to see if a better product is available and can also make comment in respect of your price. Savings can sometimes be made by switching to a new provider and we can guide you through the process.
Call us today on 020 8353 8966 and let us show how we can help you make your team feel valued, allow you to boost productivity, create a better company culture and become a place where people actively want to work.