Reduce PMI premium costs
Tackling the soaring costs of private medical insurance by shifting the focus to prevention
Once the gold standard of employee benefits, many employers are now questioning the viability of Private Medical Insurance (PMI), with renewal premiums set to increase by 12.6% in the UK, which is higher than the global average and more than 3 percentage points higher than the European average.
As rising inflation drives up treatment costs and NHS delays cause more employees to turn to employer-funded solutions, many employers are understandably keen to contain costs. At the same time, pressure to offer more inclusive benefits that impact positively on the health of your workforce means employers need to find affordable solutions they can offer to everyone.
By catching health issues early, preventative health checks can reduce the need for expensive treatments and extensive healthcare claims. This not only lowers health insurance premiums but also protects your company’s financial health.
Read on to learn more about how a technology company implemented Qured to tackle their soaring cost of PMI.
The problem
A major technology infrastructure employer approached Qured after they saw a huge increase in their private medical insurance (PMI) renewal costs.
The company has a strong ethos of providing the same benefits to all employees and wanted to find a preventative screening solution that was affordable and would support the health and wellbeing needs of all employees.
When exploring the options available to them, the team wanted a solution that was:
- Cost-effective so it could be rolled out to all employees in the business
- Easy for employees to access the service and simple to use
- Focused on preventing illness and chronic conditions
- Supportive in reducing the need for PMI and the costs of renewal
The solution
Implement an affordable, easy-to-use, remote employee health screening programme with Qured.
Qured was able to tick all of the boxes as a provider that offered:
- Affordable, convenient, easy health screening via an app and at-home testing
- Expert advice and support from Qured’s doctors and clinicians
- The ability to build an affordable package of tests to roll out to the whole workforce
- Preventative rather than reactive healthcare, focusing on reducing the risk of serious illness and improving the health of the workforce
We’re proud to be working with the technology sector to provide preventative health screening and support in reducing the cost of PMI renewals.
See how Qured helps businesses cut costs and prioritise employee health. Read more case studies to explore our impact.