PMI in Social Housing Organisations

Published: 2016-08-15

This week we look at Private Medical Insurance Benefits in the Social Housing Sector. As with previous blogs, we have looked at a Report based on Inbucon's (a remuneration consultancy company) survey.

Private Medical cover is a fairly standard benefit with approx two thirds of social housing organisations providing this benefit to Executive Directors.

The majority of cover is at employee only level.  Only 8% of Executive Directors (other than CEO’s) receive family cover.

This is noticeably different at CEO level in which 21% provide family cover.

The average cost of PMI to a social housing organisation is around £700 per Director, per annum, although we have seen payments as high as £2,000 per Director.

The benefits to the incumbents can include dental cover  (average cover cost £400), optical care (average care cost £100), podiatry and reflexology, health screenings and complete health checks.

There is a small correlation between the size of an organisation and the likelihood of the provision of this benefit but no correlation between the geographic location and the provision of this benefit.

There are both pros and cons of PMI. Chronic illness is not usually covered and if you have a policy with an approved list of consultants and hospitals, this may not include the expert consultant an incumbent may wish to see or have a convenient location for treatment.

The incumbent will however be able to get a specialist referral from their GP and will not have to wait for any scans or appointments. An incumbent would usually get quicker access to physiotherapy privately.

Inbucon’s research has also shown that a few associations who provide PMI also have nominated occupational health providers to support colleagues with long term/ongoing health problems which would not be covered by private medical cover.

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