Zurich UK has unveiled a new insurance policy targeted at providing low-cost healthcare support for employers.
The new insurance policy, Zurich LiveWell Diagnostics, has been developed by Zurich UK’s Accident & Health team and is set to offer employees access to specialist consultations and clinical diagnostic tests such as MRIs, CTs and ultrasounds which would shorten waiting times for treatment.
The new insurance policy will be offered to all employees with no limits on out-patients and no exclusions based on pre-existing conditions.
The policy will cost between £190 and £310 per employee per year, which compares to between 25 and 40 per cent of a full medical insurance policy. Zurich’s more limited cover will include virtual GP appointments, physiotherapy, mental health counselling and a second medical opinion.
The launch comes as latest figures from NHS England reveal that 1.2 million patients are currently waiting for diagnostic tests in England and only 11 per cent of the UK population has private medical insurance. Meanwhile, workplace absences are rising with sick days reaching 80 million in 2019 according to figures from the Office for National Statistics.
Stephane Baj, Zurich’s head of accident and health says: “Our new policy aims to plug the gap between basic healthcare benefits, such as virtual GPs, and more costly full medical plans. It offers an affordable alternative for employers that want to extend private healthcare to employees – from shop floor workers to delivery drivers – who have not typically enjoyed these benefits before. By providing early access to healthcare, it can help firms to improve employee wellbeing, reduce the number of days lost to sickness and maintain their productivity.
“With rates of long-term sickness rising, and hospitals facing a backlog, private medical cover can play a role in fast-tracking access to clinical diagnosis. At a time when some employers might be forced to cut back on staff benefits, this solution also gives companies an option for cover that could otherwise have been lost altogether,” Baj adds.