Healthcare & wellbeing – definitions – Private medical insurance (PMI)

Private Medical Insurance (PMI) is cover that allows employees to get private medical treatment.
Employers can provide PMI as a perk or as a management tool to reduce sickness absence, or both.

From an employers’ point of view, private medical insurance offered to staff ensures they can avoid the waiting lists on the NHS, get treated and get back to work faster.

Employers have to ensure they communicate the value of medical health insurance as an employee benefit as workers do not always appreciate the true cost of the benefit.

Health care providers of both PMI and health care cash plans will often inform organisations that offering both benefits is the best provision for the workforce. There are obvious advantages of being able to offer both PMI and cash plans, perhaps selecting PMI for key staff and cash plans to the wider workforce.

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