Featured by IFA Magazine, new research from Bowmore Financial Planning reveals that UK businesses and individuals spent £9.5bn on private medical insurance in 2025, the highest level since records began and a 50% increase since the pandemic, when spending stood at £6.3bn.
The rise reflects growing pressure on NHS services, with the median waiting time to see an NHS specialist rising 78% to 13.2 weeks in February 2026, leading a growing number of employers to add private medical insurance to their benefits package.
Gill Millen, Managing Director and Head of Corporate Benefits at Bowmore Financial Planning, said:
"Large businesses understand that to attract and retain the best people they must offer private medical insurance to reduce the heavy toll NHS delays have on their employees."
Yet for many smaller businesses, private medical insurance remains an untapped opportunity, with cost concerns often proving to be a barrier that closer inspection does not always justify.
Gill Millen added:
"Small businesses must really consider offering private medical insurance to their employees, as it will cut the long waiting times for those small numbers of staff that keep their businesses running. In the end, it can prove even better value for money than for larger companies, as reducing staff absence can have a disproportionate impact on profits at a smaller company."
IFA Magazine: UK businesses and individuals spent a record £9.5bn on private healthcare in 2025, an all-time high
Bowmore Corporate Benefits is a trading name of Bowmore Financial Planning Ltd which is authorised and regulated by the Financial Conduct Authority.