Employers in the UK face a rise in premiums for private medical insurance (PMI) schemes as market pressures have pushed medical inflation to an “unprecedented” average high of 18.8%, according to Aon.
Medical inflation has doubled compared to an average of 9% in 2022, which Aon stated is driving more people towards PMI, many of whom are from corporate employers who are expanding cover so more employees or their dependents can access the scheme. Market pressures have caused the cost of PMI schemes to increase by over 50% in some cases, Aon detailed. Meanwhile, more employees who are new to PMI schemes are claiming from day one due to delays in treatment from the NHS. As such, claims have jumped by almost 30%, while claimants are up by 31%. Aon has also seen greater use of private...
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