Featured by The Telegraph, Bowmore Financial Planning's Managing Director and Head of Corporate Benefits, Gill Millen, has commented on the growing financial pressure facing UK employers as private medical insurance premiums continue to rise.
The Association of British Insurers reports that spending on private medical insurance reached £9.5bn in 2025, half as much again as the pre-pandemic figure, with employers picking up more than two thirds of the cost. As demand for private healthcare grows in response to pressure on NHS services, businesses are feeling the strain.
For many employers, rising premiums can make it harder to plan ahead with confidence, whilst the need to attract and retain talent means stepping back from private medical insurance is rarely a straightforward decision.
Gill Millen said:
"There is always that fear: 'If we as a company provide a benefit for somebody, what if we are then forced by rising costs to take it away from them?'"
Yet stepping back from private medical insurance is far from straightforward for businesses operating in a competitive talent market.
She added:
"An awful lot more cost pressure has been put on business, but then in needing to attract people and to keep that business running efficiently, they are having to bring in benefits that support that healthy, enduring workforce."
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Bowmore Corporate Benefits is a trading name of Bowmore Financial Planning Ltd which is authorised and regulated by the Financial Conduct Authority.