Frequently Asked Questions.

When an employee utilises their PMI benefits, the cost of treatment and any hospital stays is paid directly by the insurer to the private hospital, with outpatient cover to be covered in full or limited to a set amount​. No information is shared with the business but a copy of the paid claim can be requested/ viewed by the member.

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There are quite a few insurers out there offering Private Medical Insurance, each with different levels of coverage and a variety of hospital lists to pick from. Independent private hospitals partner with all health insurance providers, but they’re not actually owned by the insurers. Hospital lists become more of a focal point if you’ve got members who might need to go to London hospitals, as their fees tend to be much higher than elsewhere.​

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Excess can be applied to PMI, it can be applied per policy per year, or claim. Applying an excess can help you to safeguard the policy from lots of small claims and it is a good option when you’re looking to make sure the policy pricing is sustainable.

The insurer will likely consider you less of a risk with an excess and a discounted premium may be available.It’s well worth considering this option if it fits within your budget. ​Small everyday claims are best claimed on a company health cash plan.

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Firstly, I am just putting it out there that I am not authorised to give tax advice. However, private medical insurance is classed as a benefit in kind by HMRC. You will need to report any company-funded premiums to HMRC. Communicating this to employees can be done before or after the policy has gone live with a time frame provided to employees so that they can opt-out should they not wish to receive this benefit.

Yes, should you wish to you can agree for employees to add dependents. Only immediate family can be added. You can choose to fund this or deduct from payroll after tax. Your insurer will simply invoice the full cost to the business.

You can choose to administer your policy directly with your insurer or you can ask your friendly broker (us) to help you add and remove employees as they join and leave the business. If you are paying monthly the member will be removed from the end of their employment and you will not be invoiced for that member following their removal. If you pay annually the remainder of the cover period premiums will be created back to you either as a refund or a credit to your account.

There are lots of factors that go into the price of a policy. Including, the amount of cover available within the policy. The number of employees on the cover, age and gender of the members on the cover. The postcode of the business. What hospital list you have access to. Whether you are providing single cover/ single parent cover or family cover. Type of underwriting (especially if this is being carried over from an existing policy.) Whetehr there is an excess on the policy. Insurance premium tax. Medical inflation and administration costs.

A pre-existing condition is anything you have had medical treatment for in the past. This includes symptoms, consultations, medication, surgery, or any other treatment from the NHS or a private company. You can purchase health insurance if you have a pre-existing medical condition. All policies place guidelines for what they will cover and your underwriting will state any exclusions relating to pre-existing conditions. It’s the underwriting that determines what you can and can’t claim for under the terms and conditions of the policy. Any exclsuioons will can a time frame detailed.