People are increasingly recognising the benefits of private medical insurance (PMI) and more employers are starting to take out policies for their staff, says the Association of British Insurers (ABI).
According to ABI’s figures, more than six million people are now covered by either personal or corporate PMI with a further 1.14 million covered through Healthcare Trust arrangements.
Research conducted by BUPA shows that in the first quarter of 2008 sales of individual PMI policies were up by 20 per cent on the same period last year.
Private health care allows patients a quicker and higher standard of service than the NHS, according to ABI spokesperson Jonathan French.
Employers are also increasingly seeing the advantages of providing PMI for their workers, such as helping them to back to work more quickly after an illness.
“There’s also the argument [that ] in an increasingly competitive labour market, employers are using add-ons, like offering private medical insurance to ensure that they can recruit and retain the best quality staff,” added Mr French.
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