What is Private Medical Insurance?
PMI is becoming increasingly important as the NHS is subject to more strain and funding difficulties. Essentially, if you have an acute illness that requires treatment quickly, your PMI policy should cover it. You will be able to arrange an appointment with a top local consultant who will then prescribe the correct treatment in a top hospital quickly. Most good group policies cover family too.
Do I need it?
If you or a family member want to be seen quickly by a top doctor, in a good local hospital, quickly or if you have concerns about the current state of the NHS for that matter, then you should consider taking out a good Private Medical Insurance Policy.
If you are an employer, the benefits of these policies are highlighted below.
Benefits of Private Medical Insurance
Group Private Medical Insurance (PMI) is an important tool for reducing employee absenteeism and improving retention. If your employees fall ill or are injured, they will be able to access private medical treatment, quickly, at a convenient time and place, i.e. preferably out of work hours. Again, this enables your employees to return to work sooner, hence minimizing the cost to your business.
In our experience, firms that have a spectrum of quality group benefits in place tend to have a higher percentage of long serving employees.
We have found that employees place considerable emphasis on group benefits, which in turn makes them care more about the firm they work for, which has further positive knock on effects for the employer.
A chartered financial adviser can provide expert help with structuring solutions taking into account your personal and businesses financial circumstances and objectives and long term goals.
Should you require further information, advice or guidance, please do not hesitate to contact Alex or one of the team at Old Bray Financial.