Private Medical Insurance

Having Employee Benefits in place gives you a competitive advantage in attracting and retaining talent. Talented professionals are more likely to stay with a company that values their well-being. Employees who feel supported are more likely to stay productive and committed.

Cover and Employee Benefits packages can be tailored to meet your business’s budget; options can often cost much less than you think. Our 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.

Coverage for pre-existing conditions varies by insurer and policy. Some underwriting styles may allow inclusion of certain pre-existing medical conditions but usually at a higher premium. It’s important to discuss your company’s needs with a Jensten broker to find the most appropriate policy.

Most PMI policies exclude chronic conditions, routine maternity care, cosmetic treatments, and long-term monitoring. However, some comprehensive international policies may offer additional cover options.

One of the main benefits of PMI is quick access to private healthcare services, including consultations, diagnostic tests, and treatments, often reducing waiting times compared to NHS services. This swift access helps employees receive timely care, which can lead to faster recovery and less time off work, ultimately benefiting both the employee and the business.

Many PMI policies now offer mental health cover, providing access to outpatient therapy and counselling sessions. It’s advisable to check the specific policy details to understand the extent of mental health support included. Some policies may cover up to six sessions of therapy or counselling as part of their wellbeing services, supporting employees’ mental health care and promoting a healthier workplace environment.

Some group health insurance plans allow inclusion of family members, offering extended cover beyond employees themselves. This can be a valuable benefit to attract and retain staff by supporting their loved ones’ health needs. Including family members in the health insurance policy can enhance employee satisfaction and loyalty, as it provides peace of mind knowing their dependents have access to private healthcare when needed.

Inpatient treatment involves staying overnight in a private hospital, while outpatient treatment includes consultations, diagnostic tests, or therapies that do not require an overnight stay. Both types of treatment are typically covered under a private health insurance policy, allowing employees to receive care suited to their medical needs without unnecessary delays.

Choosing a higher excess can lower your premiums but means the insured party pays more towards each claim. It’s important to balance affordable premiums with manageable out-of-pocket costs. Employers and employees should consider lifestyle choices and financial circumstances when selecting the excess level to ensure the health insurance cover is both effective and budget-friendly.

Some PMI policies offer optional add-ons for dental care and routine health screenings, but these are not typically included in standard cover. Check your policy details for available wellbeing benefits. Access to such additional services can enhance the overall health and wellbeing strategy of your business, supporting employees’ physical and mental health proactively.

A wellbeing strategy promotes physical and mental health in the workplace, reducing absenteeism and improving productivity. Combined with PMI, it creates a comprehensive approach to employee health and wellbeing. Wellbeing services may include mental health support, lifestyle coaching, and access to top brands offering discounts on fitness and health products, helping employees maintain a healthy work-life balance.