20 May 2022

Strength in Numbers

An increasing number of employers are finding that offering Private Medical Insurance (PMI) can help to keep their employees, and their business, healthy and productive. Construction sector skills shortages and increasing NHS waiting times mean that the benefits of offering private medical cover to your employees have never been clearer. However, value is about both cost and benefit so it’s important to make sure that the solution you choose is one that is sustainable for your business.

Exclusive cover for ECA and JIB members

The ECIS PMI scheme with Bupa is a large group arrangement, available exclusively for members of the ECA and JIB. The size of the scheme offers Members protection from premium increases related to large individual claims and helps keep the pricing of the scheme sustainable.

Simon Morgan from Wessex Group observed:

“When you compare [ECIS] in the market, the level of benefits you get is excellent value for money. Obviously, there are options that provide lower benefits and underwriting so the cost is less but when comparing like for like, the value is outstanding.”

Additional Benefits and Services

The ECIS PMI scheme includes additional services which go beyond access to just hospital treatment. The Babylon Digital GP service provides access to a GP 24 hours a day, 7 days a week and appointments are usually available within two hours.

Whether it’s concerns over cancer, mental health or muscle, bone and joint conditions, ECIS PMI scheme members can call Bupa without the need for a GP referral.

In addition, the Employee Assistance Programme is a free, confidential telephone service, which supports your employees with issues that may be impacting their wellbeing and work performance.

Absorbing the impact of large claims on premiums

Private medical premiums are mainly affected by claims experience and inflation. However, the volatility of smaller schemes means premium increases can be significant. In recent years the ECIS Scheme has seen individual claims costing as much as £240,000. The impact of a claim of this scale on a small policy’s future premiums would be significant.

ECIS can help protect policyholders from large year on year increases driven by high value individual claims by pooling Members into a single scheme. As a result, ECIS Scheme members have benefited from 10 years of premium stability relative to the wider market, helping to ensure that the cost of providing this valuable benefit remains sustainable.

If you are thinking of a PMI policy for your employees or if you would like ECIS to review your current arrangement, speak to the ECIS team on 0330 221 0241, or at ecis@ecins.co.uk.