Cash plan private medical insurance has been taken up by increasing numbers of employers. In 2006, corporate health insurance accounted for 8 percent of the market, but in 2008 this had risen to 13 percent according to Mintel. A report by Laing and Buisson found that the number of cash plans provided by companies increased 29 percent in 2008, bringing the total to 378,000. Stephen Duff, deputy chief executive at HSF told All Business, “When company finances are tight a health cash plan voluntary scheme doesn't cost the company anything. And it gives employees the opportunity to buy a cash plan at the corporate rate instead of the consumer rate, which is around 40% more.”


These figures prove that businesses in the UK are recognising the many benefits of having private health cover for their staff. Greater efficiency is just one of these, as staff who become ill can be treated in a shorter time and therefore return to work more quickly than what they might have done being treated on the NHS. By offering private health insurance for employees, companies can even attract higher calibre of staff and have a higher quality production as a result. Loyalty amongst employees is also something that comes about as a result of providing private health cover. The Laing and Buisson research also found that 88 percent of people who have a cash plan policy value the core benefits, so this could make it an even more worthwhile investment. Stephen Duff says that people can often put off going for medical checks because of money worries. “However, when they have budgeted for their health through a cash plan they go for more regular check-ups, which means that they are less frequently off sick, which is better for them and therefore for their company.”