Last year was a good year for private medical insurance, cash plan policies in particular. Despite the UK heading into a recession, the number of people taking out private health cover actually rose and it seems that businesses weren’t put off by the financial situation either. The latest statistics released by Employee Benefits / Simplyhealth Healthcare Research 2009 suggest that the number of companies taking out private health insurance for their staff in the form of cash plan private medical insurance shot up by 180 percent in the past year. One reason for this huge increase in the number of companies holding employee health cover could be because they have decided to switch from a traditional private medical insurance policy to the more cost efficient cash plan policy, of which Freedom Healthnet is one supplier.


The research also found that small businesses (with a workforce of 100 or less) were the most likely to have a cash plan private medical insurance policy for its staff. Over a quarter of small businesses in the UK now hold one and this could be because they are one of the most affordable ways to provide private health cover, which is considered to be one of the top employee benefits a company can provide. In the past 12 months alone, the number of companies who have recognised the importance of providing good benefits for their workforce in the UK has risen from 5 percent to 14 percent. The recession may seem like a time when unnecessary expenses should be avoided but private medical insurance has defied this, showing that it is widely upheld in the view of bosses who recognise the importance of investing in the health of their staff.

A top organisation which represents insurance brokers in the UK is advising companies to take out private medical insurance cover for their employees. The British Insurance Broker’s Association (Biba) say that PMI could help keep a business healthy, as well as its staff. With many companies doing their best to keep going in the recession, it’s no wonder that more and more bosses are looking to take moves to benefit their business and a corporate private medical health insurance policy could be just one way of doing so. Peter Staddon, head of technical services at Biba, told ClickAJob: "It is a much better way of maintaining the health of your staff as well as your business and there are some brilliant schemes out there."


Biba say that there are a number of reasons to take out a corporate private medical insurance policy. Firstly, it’s important, especially for smaller businesses to control illness amongst their employees. Secondly, it helps staff to work to the best of their ability, inevitably increasing productivity because it may prevent them from worrying about any medical issues that they may have as much. Private medical insurance is a good way of putting someone’s mind at rest because top quality medical care is always available in a time and place suitable to the patient. Some bosses may see PMI as an added cost initially, but millions of pounds are lost every year by British businesses due to sickness so this could be one way of reducing cost in the long run by encouraging a healthier workforce. Figures released by the Association of British Insurers last month only confirm this, with the number of people taking out a private medical insurance policy in 2008 increasing, despite the UK heading into recession.

Increasing numbers of businesses are turning to corporate cash plan health insurance policies in order to save money, as the costs of traditional private medical insurance become too expensive for many in times of recession. Nearly one in four businesses has said that the main reason for not using traditional private health insurance policies is that the rising costs of healthcare is pushing up the cost of premiums. According to a survey by HSA, this means that more and more companies are looking at cheaper options, like cash plan private medical cover. 

“It is hardly surprising that companies are increasingly choosing budget health plans for their workforce, and health cash plans are a simple and affordable option,” HSA’s Abby Bowman told Health Insurance and Protection Magazine.

Despite their growing popularity, some confusion seems to be arising among employees surrounding the health benefits provided by their employers, and it’s all because they simply aren’t giving them enough information. The success of a corporate health insurance policy depends on the level of communication between the private medical insurance provider and the employer, in order for the employer to pass on the information to their workforce. 

Freedom Healthnet provides easy to read information about all its policies, helping the third of employees who are currently unsatisfied with the amount of advice they are given about their health to feel happier and more at ease. Corporate cash plan health insurance is also an important way for companies, “to cover their duty of care and health and safety obligations,” said sales and marketing director Russ Piper, when also speaking to Health Insurance and Protection Magazine.

Money has become tight for many people in the UK over the past six months, with increasing food, gas and electricity bills causing problems for some. Experts are giving advice here, there and everywhere on how to decrease spending, whether through buying supermarket own brand products, or using energy-saving light bulbs. Now it seems that there are ways that you can save on your private medical insurance too, by being part of a corporate health insurance policy.

If your company already offers private health cover as a benefit to its employees, you should be able to get a much more competitive quote as an individual. The bigger your company is, the better, as the overall cost is dependant upon how many people are covered by the policy. It is worth researching into a company before you commit to working for them as a job is not always just about the wage packet.

Another way to make your quote for private medical insurance cheaper is by taking it out when you are young and more healthy. This way, you are not only less likely to have to make a claim but with access to top quality healthcare and check-ups you may be less prone to serious illness as you get older. Cash plan private health insurance can also save you money, as well as giving you the option to choose where and when you undertake your treatment, choosing a time and place that is convenient to you.

Four in ten workers in the UK think their employers should provide them with private healthcare through a corporate health insurance policy. These figures come from the latest study by BUPA, which found private health cover came second only to pensions, in a list of employee concerns regarding their job.  Having a comfortable retirement fund was a top priority for just marginally more people at forty nine per cent, halving the difference between the two benefits from the previous year. Health is clearly becoming increasingly important for employees, with gym membership and wellness assessments also resulting high in the research. As well as this, businesses are now being encouraged by the Government to provide support for their staff as advised in the Department for Work and Pensions’ 'Review of the Health of the Working Population.' It seems that there is not a better time to get a quote for corporate medical insurance.

For three in four of all employees who would like to see private medical insurance among their job benefits, cleanliness of hospitals is the main worry. This is closely followed by wanting to avoid waiting lists, in particular for specialist treatment. Bupa’s Ann Greenwood told The Fair Investment Company, "The rising popularity of workplace health benefits, particularly PMI, reflects changing attitudes to personal healthcare. People are now keen to have more control of their healthcare options rather than leaving them to chance." 

Freedom Healthnet’s corporate health insurance policies offer such a degree of control. Employees can receive treatment in a time and place convenient to them, whether it be closer to work or home. They can be cared for in a top quality private clinic, visit their local NHS hospital or travel abroad if they wish. It’s not only workers that will benefit from a better state of health, but companies could save a significant amount of money by losing fewer days each year to sickness. In 2005, British companies lost £13 billion simply as a result of sickness. 

Three new flu strains are on their way to the UK this winter, and companies are being warned to offer vaccinations for the virus to their staff to avoid major disruptions. The new strains - A/Brisbane/59/2007 (H1N1)-like virus, A/Brisbane/10/2007 (H3N2)-like virus and B/Florida/4/2006-like virus can effectively be prevented with a simple inoculation that employers can access through their corporate health insurance. Flu is often compared to the common cold, but the illness can cause major upsets in the workplace with most people taking a week off. Even when they return, the virus leaves people very weak and production will undoubtedly be reduced. Businesses in the UK already lose millions of pounds each year due to sickness and these new strains of flu will only add to this, but the vaccination, which is effective in an estimated 70 to 90 per cent of adults, could significantly improve this.

Peter Mace is the assistant medical director at BUPA Wellness. He told Easier Finance, “Flu is one of the major reasons for short-term sickness among UK workers, and we recommend that even individuals who have received flu vaccinations previously should still be given the new vaccine to ensure they are protected from the three new strains. Any previous vaccines will not be effective in protecting against the new strains." By taking out a corporate private medical insurance policy, not only will employees have access to the new vaccine, but they will also be able to receive health care at a time and place convenient to them, should they become ill and return to work as soon as possible.

Corporate health insurance has many benefits for both the employer and employee, the most important of which must be losing less days to sickness each year through a generally healthier workforce. There are, however, many misconceptions about group health insurance policies that may put bosses off from investing in something that can be very worthwhile for their businesses.
One of the most common mistakes is that managers believe all health insurance policies cost the same. In fact, cost varies according to many factors, such as the general age and size of the workforce as well as the type of health cover. Cash plan medical insurance policies, like those offered by Freedom Healthnet, can work out to be more cost effective than traditional plans, and give more choice to the employee as to where they would like to receive their treatment. Many people also believe that they will have to go through the hassle of getting a referral, but in fact most health insurance companies are based on an open access system and require no referral at all.

Some business owners are led to think that they will have to use a broker in order to get the best deal for them, but this can be expensive and unnecessary. Quotes for private medical insurance are easily available online, as well as all the information a company will need to help them decide if that particular level of cover is well suited to their needs. If advice is needed, however, independent brokers are available to help for little or no cost. On the other hand, some corporations think they know everything that there is to know about private medical insurance when in fact they are missing out on vital knowledge that could save them a lot of money. The industry is constantly changing and it can be hard to keep up with the latest information, as well as running a business. It is worthwhile enquiring into latest issues and quotes regularly and taking advice from independent brokers to ensure that your company’s group health cover is both cost efficient and gives the most relevant benefits.

Private medical insurance has a significant impact in helping employers attract new recruits

In a survey of 211 employers with a workforce of 675,000 people 68% of employers have highlighted private health insurance to be a useful in recruitment. Furthermore 63% agreed it improved employee motivation.

With a cost to employers of over £1 billion each year, four in ten companies now provide their whole workforce with private healthcare policies.

80% of employers believe the schemes have helped their employees returning to work more quickly after absence. Two thirds of these employers said the schemes improved performance of their staff who were suffering from a disease, illness or injury.

Corporate private medical insurance costs on average £506 per person per year. However, 61% of employers provide limited benefits to permanent employees and line managers and extend greater cover to directors and senior managers.

Source: Personnel Today

Corporate health insurance has many benefits to both the employer and employee, most importantly losing less days to sickness each year through a generally healthier workforce. There are however many misconceptions about group health insurance policies that may put bosses off from investing in something that can be very worthwhile for their businesses.

One of the most common mistakes is that managers believe all health insurance policies cost the same. This of course varies according to many factors, such as the general age and size of the workforce as well as the type of health cover. Cash plan medical insurance policies, like those offered by Freedom Healthnet, can work out more cost effective than traditional plans and give more choice to the employee as to where they would like to receive their treatment. Many people also believe that they will have to go through the hassle of getting a referral, but in fact most health insurance companies are based on an open access system and require no referral at all.

Some business owners are led to think that they will have to use a broker in order to get the best deal for them, but this can be expensive and unnecessary. Quotes for private medical insurance are easily available online as well as all the information a company will need to help them decide if that particular level of cover is well suited to their needs. If advice is needed, independent brokers are available to help for little or no cost. On the other hand, some corporations think they know everything that there is to know about private medical insurance when in fact they are missing out on vital knowledge that could save them a lot of money. The industry is constantly changing and it is hard to keep up with the latest information with a busy business to run. It is worthwhile enquiring into a new quote regularly and taking advice from independent brokers to ensure that the company’s group health cover is both cost efficient and gives the most relevant benefits.

SME Private Medical Insurance is increasingly purchased online, according to the latest news & research from The Insurance Times. Small business owners like the convenience of dealing with insurance online, outside of business hours according to the study.
Health insurance brokers are still being used but increasing numbers of small businesses are going direct to online medical insurance providers for medical quotations for their staff at a time to suit them.
SME's are officially classified as businesses with 10-250 staff and turnover of £1.5 - £37.5 million and this is the market that the insurance study is referring to. Micro Businesses with fewer than 10 members of staff and a turnover of less than £1.5 million are also a key market currently looking online for PMI for their employees, according to a Freedom Healthnet spokesperson.

"More SME's will be looking to use the web for their insurance needs - not just as a pure quotation and buying mechanism, but also as an advisory rsource and to manage their service needs," according to the research. Companies, like individuals, want ease-of-use, and information when they want it. This is a basic requirement and something that health insurance providers are endeavouring to fulfill.

Getting a quotation for company private medical insurance is a matter of filling in some basic company information to start with and then getting an experienced representative to help with the more complex parts of the process. What level of insurance cover do you want? Core? Essential? Fully comprehensive? Would you like to offer the possibility of covering employees' families? Do some of them have a current insurer and want to switch?
Whether getting an initial quotation or looking to switch from a current medical insurance insurer, the Freedom SME medical insurance quotation process is designed to be fluid and straightforward.

The takeup of Individual Medical Insurance is on the increase in the UK as publicity over fatal infections in NHS hospitals reaches new heights. The Telegraph quotes how 90 patients cared for by Maidstone & Tunbridge Wells Hospitals NHS Trust died as a result of infection from a nasty superbug, Clostridium difficile. With recent photographs of dirty hospitals in the press, the rise of MRSA and other such bugs and the often-lengthy waiting lists, people are turning to private health insurance to rescue them from the failing NHS.

According to The Telegraph, about 7.4 million people in the UK already have health insurance and this number is now on the increase. When faced with a mixed sex ward or a private room by yourself when you are ill, many opt for the latter. Moreover, the prospect of being treated instantly instead of waiting months to see a consultant and then more months for treatment is instantly attractive. Private health insurance offers choice and people are really beginning to understand the benefits associated with that choice.

With reports that the funding for the NHS is going to slow down after 2008, the increased demands of an expanding population, coupled with increasingly expensive drugs and procedures will not be able to be met. BUPA has produced a report illustrating that there will be an £11 billion gap in the funding of the NHS by 2015.

All of these factors are driving people to the conclusion that private health insurance is the way to go. Many are lucky enough to have employee health insurance via their work for themselves and their families. Indeed, the ABI state that about half of the number of people covered in the UK have insurance policies via their employer.

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.

When people leave companies or retire, their health insurance plans often stop and they have to get a new policy for private health insurance. Many find that they have to go with a new insurer to keep the costs down as their premiums could double or triple with some providers when coming out of a group insurance scheme into a private one. The reason for a disparity between employee and private medical plans is that with company health insurance there is a substantial discount given for a group of people being covered. Additionally, the PMI cover could be paid by your employer, leaving you to only pay the insurance premium tax (IPT). With Freedom, our company medical schemes start from 3 individuals + so a family business or start-up business can be covered by a private health plan. We also offer family health insurance as well as individual. With our family medical policy, it covers all of your children (to age 25 whilst in full time education) for the same cost as one child, hence giving you savings there immediately.

Also, some insurance providers do not want to continue with the client when they leave the company and make them 'restart' their policy - so that the client has to take a policy with a 2 year moritorium on cover for conditions treated in the past 5 years, or similar. With Freedom Healthnet, you can switch from your Freedom company policy to a Freedom individual policy without having to go through this.

With Freedom Health Insurance, we have a switching system which provides for individuals who retire or who leave their employer but who wish to carry on with their private medical insurance. Contact the Freedom team for details 08703 50 40 30.

Alternatively, our instant quick quote for medical insurance will show you how little your premium could be with Freedom Healthnet - quoted in The Independent as the most competitive comprehensive insurance policy over the likes of Bupa and AxaPPP.

We are delighted to announce that the winner of the bottle of Champagne raffled at the Employee Benefits Exhibition is Karen Potter of The Hood Group, Essex. Karen visited Rob and Paul on the stand at the show, where they were chatting with people about the health insurance benefits provided by Freedom Healthnet's Company Medical Insurance - including the possibility of being treated abroad, if they prefered!

Karen is being sent a bottle of Veuve Cliquot Ponsardin in a cheeky little Veuve jacket forthwith! Congratulations Karen - it was lovely to meet you!

We are reliably informed that a bottle of champagne is due to be raffled and presented to one company employee at the Employee Benefit Exhibition on the Freedom Healthnet Stand. So make sure that you stop by and visit if you are interested in getting your medical and health needs covered through your company or if you want to offer this vital insurance to your staff!

With the focus on Employee Medical Insurance, the Freedom booth houses excellent information resources in the guise of Rob and Paul, two very experienced insurance consultants, who are there to give you information about employee health cover and answer your questions:

What can I expect from Company Medical Insurance?
How long will I have to wait for authorisation for treatment?
How soon will the money be 'in the bank' ready to pay for my treatment?
Where can I have my treatment?
What hospitals abroad have your clients used?
How much can I save by having my treatment abroad?
Do I get to keep the savings?
Can my family be covered too?
How little can I get an company health insurance policy for?
What happens if I move company? Can I switch?
Can your medical insurance be rebranded after my company?
... and many more.

The Employee Benefit Exhibition & Conference kicked off today at the Business Design Centre in London. This growing 2-day exhibition (and the largest employee benefits event in Europe), is designed for workers to learn more about benefits available to them from their employers.

Freedom Healthnet provides employee medical insurance for companies, often 'white labelling' their health insurance for individual corporates. For example, a group of accountants has called their employee health insurance after their company: e.g. (ABC) Accountants Medical Insurance via the Freedom affinity scheme. Various benefit management companies also rebrand the Freedom Company Medical Insurance as their own to enable a seamless, branded offering to their clients.

At the exhibition and conference, PMI experts Rob Smith and Paul Oswick will be advising companies and employees about the excellent benefits offered by Freedom Health Insurance. Company Medical Insurance, including the fact that you can choose the hospital group and the particular you want to be treated in: BMI, Bupa, Nuffield, for instance, as the employee has the cash amount given to them to pay for in-patient treatment.*

The conference will hear from large companies, such as Next and B & Q about how they use benefits as incentives to motivate their employees. With workers increasingly dispondent about the NHS and the potential delays for treatment and increasing numbers of companies wanting to reduce the amount of time their employees have off sick, employee private medical insurance is an increasing necessity within both the public and private sectors.

With company medical insurance from Freedom, employees can also cover their families so that they can benefit from private health cover, too.

* subject to approval of inpatient claim.