Aviva says HMRC has confirmed that employee taxes are charged on the average annual cost of the product per employee, where the corporate excess is held in trust, and is not refundable. The provider says companies with over 250 employees taking out Optimum PMI cover can choose tailored health benefit packages and now have four different funding options: fully insured, cost plus, corporate excess or healthcare trust.
Nick Reynolds, head of PMI, Aviva, UK Health, says: “We know from our corporate customers that they place a high value on providing health cover for employees, but with economic challenges they increasingly require flexibility in how their scheme is funded, as well as the level of cover offered. The new Corporate Excess funding option has been introduced to help many more companies control their health insurance costs.”