Should I pay for private healthcare?

With news headlines dominated by doom and gloom stories about the state of the National Health Service, it’s only natural to be curious about your private healthcare options.

The PMI market is worth more than £3.98bn (www.aviva.co.uk – LaingBuisson 2016 market report) and a recent study found that the size of the UK private healthcare market is due to increase 2.8% year-on-year until 2025, estimating that it will be worth £14bn.

Private healthcare in the UK

23.4m attendances recorded at A&E in England during 2016-17
89% patients spent four hours or fewer in A&E in 2016-17
Monday is the busiest day of the week at A&E
More than 6.9m people are covered by PMI, that’s an estimated 10.6%
Government-financed healthcare expenditure accounted for 79.5% of total healthcare
spend at £147.1bn
The total healthcare expenditure in 2015 was £185bn, which saw an increase
of 3.6% on spending in 2014, which came in at £178.6bn

Private Medical Insurance (PMI)

Keep yourself, your staff, business and profits healthy with Private Medical Insurance; an affordable private health solution providing a valued benefit for employee and employer alike.

Avoid the delays and inconveniences of NHS waiting lists by providing your most valuable assets, your staff, with prompt medical attention. Quality treatment, scheduled around business and social demands, can ensure a speedy return to work with minimum disruption and expense for your business.

There’s a variety of ways to access PMI schemes:

Individual policies
Small group policies starting with only 2 employees
Large Corporate Schemes

As with any insurance policy, the type of cover can vary from one provider to another, and there are often add-ons that can be selected for an additional premium.

If you’d like to learn more about PMI, our guide on PMI can help answer allot of questions.