What benefits can my staff access through a PMI (Private Medical Insurance) policy that they can’t through the NHS?

Private health cover will give your staff access to a wide range of medical resources and specialist treatments – some of which may not be available on the NHS. Employees can avoid long NHS waiting times, being seen faster and getting treatment underway more quickly. Private healthcare also means they have use of a private room during a hospital stay, non-restricted visiting hours, and are seen by the same consultant throughout their stay. 

Your people will be able to choose the most convenient hospital and time for treatment, access a virtual GP, and they may be able to access drugs not currently available through the NHS.

Can we save money without losing benefits if we already have group PMI?

 It takes time when you go to insurance providers directly. You have to obtain multiple quotes, understand whats on offer, compare T&C’s and work out the best solution for you and your employees. And that’s before you’ve even started negotiating with each provider to get the best price. 

By working with Shire Health & Wellbeing, our dedicated team will do all of this for you (and more). We will also make sure your employees’ medical history is protected through ongoing cover. We look at all the options available to you and help you choose a solution that offers the best benefits at the best price.

Can we provide multiple benefits for our staff within a budget?

Yes. We will work with you to help you decide what benefits you need – and at what budget. Once we’ve completed our review, we’ll provide you with a comprehensive report that details which benefits are suited to your business’s needs, the cost, and how they benefit your staff.

Is there a P11D implication for my staff under a PMI scheme?

Yes. As this is a company-paid benefit, your staff will incur a P11D (tax) contribution. This is based on their tax banding and is worked out against their annual premium. Alternatively, we can provide products such as ‘Connect’ which falls under the tax threshold. For employers, this is treated as a business expense.

What is the length of contract on a Cash Plan Scheme?

Cash Plan Schemes are usually provided on a 12-month contract. To ensure that the scheme provides relevant benefits, any changes such as new employees, leavers or benefit upgrades can be carried out any time throughout the term.