It is estimated that 164 million working days are lost due to illness absence, around 6.6 days per employee at a cost of £531 per employee*. This doesn’t take into consideration the cost implications of finding, training and replacing that employee with temporary staff or even the effect of extra workloads on other members of staff. Because of this Private Medical Insurance continues to increase in demand as a key employee benefit.
Private Medical Insurance has many benefits, to name a few:
· No waiting lists.
· Treatment/appointments that can be arranged around work commitments.
· The CHOICE of the highest standards of treatment in a clean and comfortable environment.
· Treatments and drugs sometimes not offered by the NHS.
· Employment Assistance Programmes.
· Flexibility for employer.
This in turn:
· Increases staff morale due to peace of mind and self worth.
· Reduction in absenteeism.
· Increases in recruitment and retention.
· Allows opportunities to take ownership of health and wellbeing.
· Reduction in possible legal claims.
*CBI Absence and Labour Turnover report 2006