Group private medical insurance (PMI)
Supporting your people and the health challenges they face while attracting and retaining top talentPMI is a powerful way to show your employees they are valued
Due to the current pressures on the NHS, private medical insurance has emerged as a priority for jobseekers when looking for their next role. The demand on employers has increased for greater flexibility and support for all areas of wellbeing, and a comprehensive PMI offering is a great way to not only stand out in the competitive jobs market but demonstrate that you understand and are committed to supporting the day-to-day challenges your people face.
Tania Parmar
Client Relationship Director - Employee Benefits
Helping you understand PMI...
You may have heard of Private Medical Insurance (PMI), but are perhaps less informed of the importance of offering it to your people and the value it can add to your business. Gurdip Memmi from our employee benefits team shares his expertise on how your business can implement, review and manage a winning PMI policy.
The benefits for your people
- Quicker access to urgent and/or specialist treatment
- Access to Virtual GP services
- Treatment plans designed to fit around busy lifestyles
- Can include specialist mental health services
- Can extend to cover pre-existing conditions
The benefits for your business
- Demonstrates your commitment to employee wellbeing
- Higher productivity due to decreased absenteeism
- More engaged people as they feel supported
- Can help you better attract and retain top talent
- Helps you stand out from your competitors
The world of employee benefits is already broad, ever-changing, and complex, but the healthcare space can be even more daunting and add even more complexity. At NFP, we can help you navigate this challenging landscape and ensure you’re effectively supporting the wellbeing of your people.
Offering PMI isn't a tick box exercise
Whether you operate solely in the UK or around the world, our PMI specialists will support you through the entire journey of designing, implementing, and managing a PMI plan that delivers value. As part of our process we ensure we fully understand your goals and requirements.
Policy features
What treatments and services do you want to include under your policy? Is standard medical care appropriate, or do you want to add specialist treatments?
Additional support
If you choose to add more specialist treatments to your PMI plan, what extra services would best support the wellbeing of your people?
Employee demographics
What are the characteristics of your workforce? This will help you identify any key healthcare trends and needs you can solve with your PMI policy.
Claims process
How can you ensure the claims process is as streamlined as possible? What can help you save time and hassle?
Tax implications
What are your tax responsibilities based on your PMI plan? How can you ensure you comply with these complex tax regulations?
Integration
How could PMI integrate with other benefits you offer that are related to health, e.g. life assurance and income protection?
NFP's guide to group private medical insurance (PMI)
Despite its importance to the modern employee, we understand how challenging it can be for employers to navigate the PMI landscape. The world of employee benefits is already broad, ever-changing, and complex, but the healthcare space can be even more daunting and add even more complexity.
By reading this guide, you will:
- Learn how PMI can support the healthcare needs of your people
- Understand the benefits for your business and your people of implementing the right PMI policy
- Discover how to navigate the complex PMI landscape and deliver the best outcomes for your people around the world
Request a chat with one of our Private Medical Insurance specialists
If you'd like to have a chat about how PMI can add value to your business and how NFP can support you, get in touch