×


Home About Contribute Sponsorship Contact Sign In
×







.


Finance Industry News

Private Medical Insurance vital for businesses as waiting lists soar


A leading Midlands financial services company says demand for private medical insurance is soaring as hospital waiting lists hit record highs and the country faces a growing staffing crisis.

Private Medical Insurance vital for businesses as waiting lists soar


"With vacancies at such high levels it's vital companies offer the best possible packages to their staff to ensure they do not look elsewhere, and private health cover is right at the top of that l"
Alex Morton



Experts at Q Financial Services Group – which has offices in Shrewsbury and Wellington – say increasing numbers of businesses are seeking private health cover for their staff in the wake of the pandemic.

Alex Morton, of Q Financial Planning, said demand was being driven by the record hospital waiting lists which had built up over the course of the pandemic and the need to offer staff the best possible packages in the midst of a national recruitment crisis.

“The latest figures from NHS England show that there were 5.6 million people waiting to start treatment at the end of July – the highest since records began in 2007,” said Alex.

“A significant number of those will be people within the workforce who may now be unable to work or who cannot work at full capacity as a result of not being able to get treatment. That can have a huge impact on the businesses involved.

“Alongside this the latest figures from the Recruitment and Employment Confederation show there were 1.66 million vacancies at the end of last month, with the figure set to grow still further.

“With vacancies at such high levels it is vital companies offer the best possible packages to their staff to ensure they do not look elsewhere, and private health cover is right at the top of that list.”

Private medical insurance can help people avoid waiting lists, access treatment not available on the NHS, get faster diagnosis from leading specialists and consultants, choose where and when they get treated and stay in private rooms.

Alex said Q had been working with a number of businesses – including those in the   hospitality sector where the recruitment crisis was being particularly keenly felt – to arrange private health cover for their staff.

“These are forward-thinking employers who want to help ensure their staff get the medical treatment they need when they need it and have peace of mind in the meantime, but who also realise that offering the best packages possible is a vital part of staff retention.

“Part of our strength as independent advisers is that we can assess the whole of the market to ensure the right solution is provided for each client.”

.


Finance Business News - Warrington Credit Union has merged with a Wigan credit union to offer customers new online financial services, text updates, and a larger range of affordable loans.


Warrington Credit Union merges to provide customers with new online services

Finance Business News - Manchester Credit Union has been announced as the only finalist from the Greater Manchester region at the Consumer Credit Awards.


Manchester Credit Union shortlisted for national award

Finance Business News - The credit union currently has 10,000 members across Wigan, Leigh, Chorley, and Skelmersdale. The expansion aims to support residents in Warrington and South Ribble with loans and savings products that will be easily accessed online, on the phone, and in-branch.


Credit Union expands its ethical financial services in Lancashire and Cheshire

Finance Business News - Angela Fishwick of Unify Credit Union said, people can get themselves into a spiral of debt when turning to buy now, pay later services which are currently not adequately regulated meaning they are not carrying out affordability checks and credit checks.


Credit union issues warning ahead of Christmas to avoid Buy Now, Pay Later

Finance Business News - Leading North-East independent financial advice firm, Lowes Financial Management - celebrating 50 years of servicing clients has appointed a business development specialist as the firm continues to grow.


Lowes appoints specialist to spearhead growth

Finance Business News - A bid writing specialist that just five years ago spent 18 months as a trainee learning his craft has been appointed as Managing Director of the firm and has also bought into the business, as a significant shareholder.


Career Change Bids Well For Executive Compass






Ten Times Ten

Analytics, Modelling & Business Intelligence Specialists