Back in June Andrew Lansley, Health Secretary, scrapped two key NHS waiting time targets. He ended a patient’s right to see a family doctor within 48 hours and axed the 18 week target covering the period from hospital referral to treatment.
Some fear a return to the 80s and early 90s when the cash strapped NHS struggled to cope. Long waiting lists were common, those who could afford it went private and jumped the queue.
The impact of Lansley’s reforms is already being felt. The number of NHS patients waiting 6 weeks or more for diagnostic tests has risen by 50% this year.
You may already have some PMI but it could be a good time to assess whether you need cover or if any changes in cover may be appropriate.
Why you should consider Private Medical Insurance (PMI)
PMI enables you to bypass NHS waiting lists, allowing you to get treatment promptly and privately, with any operation being performed at your convenience by a surgeon and at a hospital of your choice.
Costs are covered for the following: –
• quality treatment from consultants and specialists
• scans and x-rays
• clean and comfortable recognised hospitals
• breakthrough drugs and eligible treatments
PMI has been in existence for over 100 years. Approximately 8 million people in the UK have PMI, two thirds of which is via their employer. According to a recent Employee Benefits Survey, PMI is the top insurance based voluntary benefit. PMI for partners and dependents is the third most popular and the most popular insurance benefit ^.
The benefits of Cash Plans
Further research has highlighted 80% of Britons are worried about healthcare costs and are confused over NHS and private treatments. A third of people don’t know you have to pay for a dental check up and almost half wrongly believe eye tests are free.
If PMI is out of reach Cash Plans can be an affordable option. Tailored to suit personal requirements, they provide a range of benefits including –
• optical and dental fees
• allergy testing
• personal accident
• inpatient hospital benefit
• personal consultations
To a company or organisation, PMI and Cash Plans are very beneficial. Rather than staff being at the mercy of the NHS appointment booking system, employees can make arrangements to suit them, and their employer, ultimately providing valuable peace of mind.
Absence from work due to illness costs employers on average £495* per year. Indirect costs associated with illness average an additional £667* per year. So it makes sense for a company to insure against any potential loss.
How can Perkins Slade help?
With an increasing number of insurers and other companies advertising PMI schemes, it can be difficult to make a choice. We'll use our in-depth knowledge to search the market and ensure you get the right cover for your needs.
We have considerable experience in arranging competitive, personal policies that recognise and reflect individual needs. A dedicated Client Relationship Manager will work closely with you to build an insurance solution that suits you.
You can choose from a variety of policies ranging from budget to premier plans and we can also provide international policies.
For employers, giving staff access to PMI can protect a company from unplanned absences due to illness, reduce sick pay and help minimise any disruption to work schedules. In turn, PMI will go a long way in supporting employer best practice.
Next steps
To discuss the issues raised in this article, or to talk to someone about PMI and Cash Plans, please call Gaynor Lane on 0121 698 8174. Alternatively, you can email g.lane@perkins-slade.com
About Perkins Slade
Founded in 1970, Perkins Slade is one of the UK's largest independent brokers, providing expert, impartial advice for UK and international businesses, sport and recreation organisations and private individuals.
Perkins Slade is proud to have been awarded "Chartered Insurance Broker" status by the Chartered Insurance Institute. Our Chartered status is recognition of the professional standards of all our employees.
Given our experience we can offer the right support and guidance, tailoring the correct level of cover from the specific needs of the largest company to the smallest organisations. Not only will we seek out competitive premiums but we will also advise you on risk management.
^ Employee Benefits/Alexander Forbes Benefits Research 2010, August 2010.
* Based on Perkins Slade findings, per employee per year.
