Health insurance grows in popularity among UK workers

clock • 1 min read

Health insurance is growing in popularity among workers overtaking life insurance and recapturing second spot in the 2016 Willis PMI Group Employee Benefits Index.

Two-fifths (40%) of employees ranked health insurance among their top three favourite benefits - up from 37% and third place in 2015.

The index, which explores attitudes to employee benefits among UK workers, was conducted among 1,197 adults, aged 18-64, who are currently in full or part-time employment in Great Britain.

Contributory pension schemes remained the most popular benefit, despite provision becoming mandatory through auto-enrolment - ranked in the top three by 54% of workers.

Health screenings also saw a rise in this year's index, surging from sixth place to joint fourth alongside critical illness cover. Some 32% of workers ranked them in their top three - an increase of seven per cent in the last 12 months.

Meanwhile, childcare vouchers declined in popularity with just 17% of workers ranking them among their top three, down from 19% in 2015.

Mike Blake, Director at Willis PMI Group, part of Willis Towers Watson said: "The rise in popularity of health insurance is perhaps understandable with the media continuing its scrutiny of the NHS and its struggle to meet the demands of an aging and growing population"

"Although many PMI scheme members may not use their policy to make regular claims, knowing they can access healthcare treatments quickly and conveniently without having to rely on the NHS can offer considerable peace of mind."

"Childcare vouchers can play an important role in helping working parents but this fall may be a consequence of the government's new Tax-Free Childcare (TFC) scheme, which set to be phased in next year."

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