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Private Medical Insurance

In 2011, 131 million working days were lost through sickness, most commonly through coughs, colds and flu and back, neck and limb problems. To put it into context, this equates to 4.5 days for every person in the workforce per year. If your business has 20 staff, that is 90 days lost every year.

Naturally, loss of productivity will place a tremendous strain on your business. When employees become ill or get injured, it’s vital to quickly get them accurately diagnosed, effectively treated and back into work. The NHS is not as efficient as it would like to be, which is why more and more companies are offering Private Medical Insurance (PMI) to their employees.

Looking after your employees – your company’s greatest asset – is both responsible and crucial and gives you the ability to attract, motivate and retain the best staff. The insurance usually covers the costs of private medical treatment (often at specified hospitals, clinics or medical centres) for curable, short-term conditions, illnesses or injuries for all levels of employees, although treatment for chronic or long-term illness or injury will be covered by Critical Illness Cover and not PMI.

Pre-existing conditions and ‘self-inflicted’ injuries or illness (e.g. issues that arise from dangerous hobbies or lifestyle choices) are also likely to be excluded from the standard levels of cover.

At the higher end of the market, policies can include services such as dentistry and optical care.
The benefits of having PMI are immediate and obvious -

  • It can help manage the cost of short-term illness or injury, as well as business impacts such as productivity, morale and profitability
  • It is an excellent recruitment tool
  • It offers peace of mind to employees

In addition, cover can often be available to take in spouses or children, either paid for by the company, or voluntarily by the employee.

PMI is classed as a benefit in kind and while the premiums are met by the company, the employee is liable to pay tax on them and any claims are the responsibility of the individual employee.

For more information about Goldberg Steele Associates range of Private Medical Insurance policies, please call 020 8371 3111 or email


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