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Travel Risk Professionals Private Medical Insurance
Enhance your company’s appeal and retain top talent with tailored Business Private Medical Insurance. Covering inpatient, outpatient, and specialist consultations, it ensures fast access to quality healthcare for your team.
What is Private Medical Insurance?
Business Private Medical Insurance (PMI) is a group policy that covers the cost of private medical treatment for acute conditions. It typically includes inpatient, day patient, and outpatient treatment costs, as well as fees for nursing and hospital accommodation. Your policy may also cover outpatient specialist consultations, diagnostic tests, and clinical and complementary therapies.
What does Business Private Medical Insurance cover?
PMI generally covers:
- Inpatient, day patient, and outpatient treatment costs
- Nursing and hospital accommodation fees
- Outpatient specialist consultations and diagnostic tests (e.g., x-rays, scans, blood tests)
- Clinical and complementary therapies (e.g., physiotherapy)
However, it does not cover long-term, chronic conditions, routine monitoring, routine childbirth and pregnancy. Although this type of cover can be arranged through more comprehensive International Private Medical Insurance policies. Another general exclusion is cosmetic treatment.
Which Businesses can Private Medical Insurance Cover?
Cover can be arranged with most insurers from as little as one employee. There is no fixed upper limit on group size, but for groups with 65-100 employees or more, insurers may offer a ‘claims-related’ policy instead of ‘age-related’ plans. Some examples include:
- Sole Traders and Self-Employed: When you’re running your own business being unwell is likely to impact your earnings. PMI ensures fast access to quality healthcare.
- Small and Medium-sized Enterprises (SMEs): Many insurers offer tailored PMI plans for SMEs, which typically include businesses with 1-249 employees.
- Limited Companies: Owners of limited companies often opt for PMI to ensure they and their employees can access prompt medical treatment, reducing downtime and improving productivity.
- Large Corporations: Larger businesses with more than 250 employees can also benefit from PMI, often receiving more comprehensive coverage options and potentially lower premiums due to the size of the group.
- Startups: Startups can use PMI as an attractive perk to attract and retain talent in a competitive job market.
- Professional Services Firms: Law firms, accounting firms, and other professional services businesses often provide PMI to their employees as part of a comprehensive benefits package.
These examples demonstrate the flexibility of PMI in catering to various business sizes and types, helping to ensure employees receive timely medical care and support.
Why choose Jensten Insurance Brokers?
Our experienced Employee Benefits consultants are ready to assist with all your benefit needs, from private medical insurance to critical illness cover. We’re here to provide independent, obligation-free advice tailored to your unique requirements.
Why use Jensten
Dedicated
A dedicated team to support you through the employee benefits process
Trusted
Trusted by thousands of businesses like yours
Flexibility
Tailored employee benefits packages to the needs of your business
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Our team of UK-based insurance experts are here to help, Monday – Friday, 9am -5pm.
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Need Private Medical Insurance?
Find out how our advisors support people and businesses like yours
Private Medical Insurance
To help you learn more about the potential Employee Benefits best for your business, here is our frequently asked questions. We hope they are of use, but if you’d like some independent advice from our employee benefits consultants, please call us and a member of our experienced team will be happy to help.
If you want to attract and retain the best staff members, you should offer a range of employee benefits. Offering employee benefits are actually employer benefits too! Arranging group cover can be much more cost-effective than employees buying it individually.
Cover and Employee Benefits packages can be tailored to meet your business’s budget; options can often cost much less than you think. Our expert consultants can provide you with a number of options and an overview of what is available for you to choose from.
More than 14.4 million people in the UK are covered by an employer sponsored Group Life, Group Income Protection or Critical Illness policy.
Through the insurers we work with, we can often provide benchmarking data and insights into typical cover levels for your industry sector. Speak with one of our Employee Benefits consultants to find out more.
The cost of PMI is influenced by several factors:
- Employee Age: Older employees generally result in higher premiums.
- Company Location: Treatment costs are higher in London, large cities, and the South-East, leading to higher premiums.
- Cover Level: Restricting access to expensive hospitals or limiting cover can reduce costs.
- Group Size: Larger groups may receive pricing discounts.
- Underwriting Style: Underwriting options affect how pre-existing conditions are viewed by the insurer and including cover for pre-existing medical conditions is more expensive.
Using a broker, such as Jensten Insurance Brokers, can be beneficial because they can:
- Help you navigate the competitive market and find the best deals.
- Provide a thorough review of the market to ensure you get the most suitable policy.
- Assist in comparing benefits and cover levels, not just costs.
- Offer expertise in managing and reducing premiums while maintaining adequate cover.
