Private Medical Insurance

Private Medical Insurance (PMI) works hand-in-hand with the NHS and is designed to cover the cost of private medical treatment for acute conditions that start after your policy begins.

An acute condition is defined as a disease, illness or injury that is likely to respond quickly to treatment which aims to return you to your previous state of health, or which leads to a full recovery. These generally develop suddenly and are of short duration, usually lasting a few days or weeks.

Why do I need Private Medical Insurance?

PMI has many advantages to a company and its employees, advantages include;

  • Reduce absenteeism – “149.3 million sick days were used in the UK in 2021, measuring out to an average of 4.4 sick days used per worker.”
  • Attract the best talent by offering PMI as part of the employment package.
  • Compete with other companies in the industry.
  • Tax deductible as an employee benefit.
  • Maintain customer service levels by ensuring presence of key staff.
  • Retention of employees.
  • Peace of mind, resulting in better staff performance.

How would Employees Benefit from PMI?

Again, PMI has many advantages to your employees which include;

  • Access to private facilities – clean, modern and with advanced technology.
  • Choice of consultants who specialise and supervise treatments.
  • Choice of facilities and hospitals.
  • Reduced waiting times for treatments.
  • Cover for serious illnesses such as cancer.
  • Access to 24/7 virtual GP.
  • Potential access to specialist drugs and treatment not available through the NHS.
  • Peace of mind for themselves and family members.

Private Medical Insurance Frequently Asked Questions

Why do I need PMI when I can just use the NHS?

Whilst the NHS is great, PMI is designed to work hand-in-hand with it, and has become even more relevant since the NHS has been struggling. Besides advantages of private facilities and advanced technology, it also promotes much faster consultations and treatments.

It is PMI expensive?

PMI tends to be viewed as a luxury item and does indeed come at a cost, but health is one of the most priced possessions a person has and deserves looking after. Stats show that employees miss on average 4.5 days a year (paid by the company) and many have personal PMI policies. Additionally, policies are quite modular so you can design it to be as affordable as you wish and can even have different categories, some with higher or lower levels of cover, potentially based on seniority within the company.

Why do I need a broker when I could use an aggregator website?

You get a yearly market review which could result in savings or enhanced cover and advice tailored to your needs and that of your employees. Plus, a direct point of policy management, complaint escalation, should you find the insurer being too difficult and personal advice regarding any medical conditions, so you avoid losing cover if switching insurers.

Do I pay more for PMI if I use Konsileo?

No, PMI remuneration comes from the insurer, and it constitutes a % share of the premium. Whether or not you assign a broker to the policy, your premium will stay the same.

I have pre-existing problems which won’t be covered

Generally pre-existing medical conditions are not covered, it is an industry standard but, depending on your medical conditions and the underwriting, some conditions may be covered or become covered once you have been on the policy for a period of time. It’s always worth discussing with your broker in more detail.

Why Choose Konsileo for your PMI?

  • Established, independent broker– not promoting a certain insurer.
  • Dedicated account manager for your policy.
  • Personalised advice- always tailored to your needs, based on your medical conditions.
  • Access to other policy reviews- commercial insurance specialist brokers available also.
  • Online platform to access to all your policy documents 24/7
  • FCA regulated – you will always receive honest, impartial advice.
  • Yearly market review- can lead to better premiums or better cover.

Call and speak with a member of our specialist private medical team today.

Private Medical Insurance

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