Healthcare insurance & advice, Just what the doctor ordered

  • By LiquidAdmin
  • 19 June, 2013
  • Comments Off on Healthcare insurance & advice, Just what the doctor ordered
Upwards of 150 million working days are lost each year to workplace absence with ill health costing an average employer 4.5% of annual payroll in direct and indirect costs.  CBI/AXA Absence and Labour Survey – Feb 2008.

In this article we look at why Private Healthcare insurance is becoming a key tool in business prosperity and protection.


Why private health cover?

Working with colleagues within our group we are able to offer access to a range of personal medical insurance plans and healthcare solutions to suit the needs and budget of you, your family and your business. Comprehensive private medical insurance and cash plans are available on a company paid, voluntary employee paid and personal basis, thus helping you to find the right balance of cover that’s right for your business or your personal life. The costs for some treatments help to focus the mind.

Indicative costs of common surgical procedures

 Indicative costs of common surgical procedures
source Spire Hospitals 2009 & Aviva Healthcare 2007

So what is it?

Private health cover is designed to cover the costs of private medical treatment for curable, short-term illnesses or injuries. Most companies buy private health cover to avoid lengthy absences and the substantial business cost caused by staff having to wait for treatment on the NHS.

The peace of mind of knowing your key assets (your staff) can enjoy the highest quality of treatment at a time and place convenient to both them and your business can be invaluable.


What can we offer?

At Capital & County we are committed to providing first class customer service and excellent value for money. That is why we have partnered with experts within our own group, giving you access to private healthcare expertise and high service standards that we believe in and support.

You benefit from the fact that as independent specialists Towergate have close relationships with all leading medical insurance providers, enjoying ‘key intermediary’ or ‘preferred partner’ status with many of them. At all times the aim is to manage your healthcare needs, looking for ways to enhance benefits whilst controlling costs.


How much do your staff mean to you?

As an employer you have a Duty of Care obligation to ensure you assist with your employees’ health  and wellbeing while at work. Offering private medical (PMI) cover will not only help keep employees’ fit & healthy, it will also keep them at work. If an employee does fall ill, you can be reassured treatment will be provided conveniently and promptly, getting your employee back to work more quickly and with less fuss.


Case Study

Although a fictitious case, this demonstrates why a private medical insurance plan can make sound financial sense.

Tom, a motor mechanic developed a hernia whilst lifting heavy equipment at work. He was unable to work and was signed off whilst he waited on the NHS for an operation (NHS target is treatment within 18 weeks).

Including diagnosis and recovery, Tom was off work for 113 days. His employer had to pay £14 per hour for temporary cover – this amounted to £11,865 for 113 days.

Source for temporary replacement costs was Motortrade Recruitment.

With private medical cover in place, Tom was diagnosed and operated on within one week and was back to work within 4 weeks. His employer had to pay just £2,100 for temporary cover. The total cost of Private Health Cover for Tom’s employer was £3,672.40 for the 10 employee’s that worked for the business.

Costs for private health cover based on Aviva Solutions policy with core cover and full medical underwriting for 10 single employees aged between 35-39. £367.24 p/member.

Establishing a private healthcare scheme saved Tom’s employer over £6,000 whilst enabling him to get an experienced member of staff back working quickly.

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