Private Medical Insurance

PRIVATE MEDICAL INSURANCE

Private Healthcare. A Smarter Employee Benefit.

Provide your team with fast access to private healthcare while boosting retention, reducing absenteeism, and showing employees you truly value their wellbeing.

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We understand private medical insurance

Looking after your team’s health is vital for both employee wellbeing and business performance.

Private medical insurance (PMI) for businesses helps employees access diagnosis and treatment more quickly, reducing waiting times and supporting a faster return to work.

Private health cover is designed to pay for the cost of private medical treatment for acute, short-term illnesses or injuries. Policies typically cover in-patient and day-patient treatment, along with eligible out-patient consultations, tests, and scans. This allows employees to receive prompt care from private healthcare providers, helping them recover sooner and minimise disruption to your business.

FREQUENTLY ASKED QUESTIONS

What is private medical insurance for businesses?
Private Medical Insurance (PMI) for businesses is a type of health cover that helps pay for private medical treatment for employees if they develop a short-term illness or injury.

It allows staff to access private consultations, diagnostic tests, and treatment more quickly than they might through standard healthcare pathways, helping them recover sooner and return to work faster.
What does Private Medical Insurance typically cover?
Private medical insurance generally covers the cost of private treatment for acute conditions, including:

In-patient and day-patient treatment
Consultations with specialists
Diagnostic tests such as scans and blood tests
Eligible out-patient treatment
Surgery and hospital stays

The exact cover will depend on the insurer and the level of cover selected.
What isn’t usually covered by Private Medical Insurance?
Most private medical insurance policies do not cover:

Pre-existing medical conditions (depending on underwriting terms)
Chronic or long-term conditions
Routine pregnancy and childbirth
Cosmetic treatments
Emergency services typically handled by public healthcare systems

Our insurance specialists at Pangea Life can help explain the policy details and available options.
Why do businesses offer PMI to employees?
Many businesses provide private medical insurance as part of their employee benefits package to support staff wellbeing and reduce sickness absence. It can also help businesses:

Attract and retain talented employees
Improve productivity and reduce downtime
Demonstrate commitment to employee wellbeing
Enhance their overall benefits offering
Is Private Medical Insurance a taxable benefit?
Yes, private medical insurance is usually considered a Benefit in Kind (BIK) for employees in the UK. This means employees may pay tax on the value of the benefit, while employers typically pay National Insurance contributions.

Your accountant or adviser can explain the tax implications for your business.
How much does PMI cost for a business?
The cost of private medical insurance for businesses varies depending on several factors, including:

The number of employees covered
Age and location of employees
Level of cover selected
Medical history and underwriting method
Optional extras included in the policy

Our team of insurance specialists can compare insurers and help find the most suitable cover for your business and budget.