5 Great Reasons to Provide Health Insurance for Employees

It’s been well publicised in the news recently that due to the pandemic we will be looking at long waiting lists should we, or our employees need access to NHS planned treatment.

According to the latest NHS data, which was published in November 2020, 139,545 patients had waited more than 52 weeks to start their treatment.

However in September 2019, the figure was just 1,305. This means that unless you and your employees have access to private health insurance if they were to need non-urgent treatment, they will be vulnerable to long waiting times.

Future proofing and managing risk within our business has been the main priority for most business owners over the last 9 months. With businesses having to pivot and change in order to protect staff and continue to support clients. Many employers are now looking for additional support.

So, what are the main reasons to provide private medical insurance for employees?

Fast Tracked Appointments

Providing private health insurance to your employees they will ensure they have access to fast-tracked appointments. This means that conditions are treated faster and at a time and place convenient to the business and the employee. 

Employee Peace Of Mind

At a time when health anxiety has never been so high, the security that a health insurance policy can provide an employee is priceless. Having cover in place means that your employees feel secure in the knowledge that should they become ill they would have the support of their employer via their insurer.

A team of medical professionals will support them back to health. Most insurers include a stress and counselling service as part of their cover. This means both the physical and mental health of your employee will be supported.

Saving Money

We know that the sooner conditions are diagnosed and treated the better. Reducing the costs associated with absenteeism. Business disruption costs associated with long term absence include the cost of recruiting temporary staff, retraining, sharing existing roles and responsibilities by increasing workloads for existing staff.

It is especially difficult if the role of the employee is relationship based. For instance, if your Sales Director were to be out of the business for a significant length of time - it may not be easy to replace that individual. They may hold long-term relationships with clients and be responsible for the business growth strategy.

Figures taken from the 2017 Britain’s Healthiest Workplace survey found that employees lose an average of 30.4 working days a year due to sickness, or illness-related underperformance. Poor productivity and days off sick are costing us a staggering amount of money. According to a survey, sickness-related absences and presenteeism are costing the UK economy £77.5 billion a year.

Supporting The NHS

Private healthcare can help to relieve the pressure on the NHS, taking some of the costs out of the health service's hands. When a GP provides an open referral and the patient has access to private treatment the financial pressure of treatment and care is alleviated, saving the NHS money.

An Aspirational Benefit

The market is becoming extremely competitive and differentiators between advertised roles are more important than ever when looking to attract high calibre candidates and fill positions quickly. In today’s dynamic and accelerated business environments, employers rely heavily on employees’ creative input to outperform competitors, excite customers and offer better services. The type of benefits you offer can reflect significantly on the reputation and attraction of your business to both clients and candidates.

Comparing insurance covers and procuring quotes from multiple insurers can be time-consuming.

Pegasus Benefits can help. We will provide you with a fully independent market review that takes into consideration the needs of the employees within your business, explaining the underwriting options and leaving you with everything you need to make a fully informed decision.

We care are about your health and wellbeing and want you to feel secure in the knowledge that you have the right cover in place for yourself and your employees. Additionally, we provide private medical insurance solutions with a personal touch, keeping in regular contact with all our clients allows us to support your employees as your business grows.

If you would like to find out more about the service provided by Pegasus Benefits, then visit you can book a call by using the button below.