Private health insurance high on UK employees’ want-list

Private medical insurance (PMI) is fast
rising up the workplace benefits want-list of UK employees, a
survey conducted by health insurer BUPA reveals. Indeed, if the
current trend persists, PMI could become the most popular workplace
benefit.

In its survey, BUPA found that 40 percent of employees were eager
to have PMI as a workplace benefit, up from 38 percent of employees
in 2007. This made PMI the second most popular benefit after
workplace pensions which ranked as a desirable benefit by 49
percent of employees.

Notably, pensions were ranked a desirable benefit by 55 percent of
employees in 2007. The gap between pensions and PMI has, thus,
narrowed from 17 percentage points to a mere nine.

Another health-related benefit, free health checks or assessments,
also ranked high and was selected by 20 percent of employees.
Excluding pensions and PMI, this benefit was exceeded only by
flexible working hours which garnered support from 24 percent of
employees.

“The rising popularity of workplace health benefits, particularly
PMI, reflects changing attitudes to personal health care,” said
BUPA Health Insurance director of business markets Ann
Greenwood.

“People are now keen to have more control of their health care
options rather than leaving them to chance.”

However, she stressed that tax treatment of workplace health
provision is an obstacle and a strong disincentive for companies
wanting to offer PMI.

“Our own research of corporate clients shows that nine out of 10
employers want to see support from the government,” added
Greenwood.

“Over half would invest more in employee health and wellbeing if
fiscal disincentives were removed.”