Following on from the Employee Health Benefits Exhibition, the ABI discussed the ideas around employee medical insurance at their Health Conference earlier this month.

Health and Safety has ensured that the number of workplace injuries continues to fall, year on year, which is excellent news for both employees and employers. However, one issue which continues to affect employers is absenteeism due to illness. With 28 million days per year lost due to illness and 7 million days still lost due to injury, this is a serious problem for businessess. Absence from work costs employers a staggering £13 billion per year and an additional £13 billion paid in incapacity benefits by the government / the taxpayer.

The government is endeavouring to address these issues from their end, including advising small and medium sized businesses, but the medical insurance industry has a vital role to play in alleviating the above situation. 10 million workers in the UK are currently being covered through helath insurance and income protection insurance and every year more than £3 billion is paid out to meet healthcare needs and to replace lost income.

Medical and Health Insurance is increasingly offered by companies who wish to reduce the amount of time taken off work by their employees due to sickness or injury. It is seen as a perk or benefit by the employees who appreciate the fact that their employers are investing in their health. Additionally, employee medical insurance can be extended to include family cover - offering peace of mind as their loved ones will receive prompt treatment in the unfortunate event of illness, without having to suffer the delays of the NHS.