Private Medical Insurance defies the recession in 2008

by Richard Kilner

Story link: Private Medical Insurance defies the recession in 2008

The Association of British Insurers (ABI) has revealed that 2008 saw an increase in the number of people covered by Private Medical Insurance (PMI), despite the recession.

Last year 6.2m were covered by either personal or corporate PMI, with another 1.1m covered by Healthcare Trust arrangements.

The total of 7.3m covered marks a 2.7% increase on 2007, a perhaps surprising statistic given the economic difficulties and burgeoning recession.

General Insurance and Health director of the ABI, Nick Starling, has welcomed the rise in PMI coverage.

Starling has described it as good for both individuals, who benefit from peace of mind, and businesses, who see employees treated more quickly and return to work more promptly.

Fiona Harris, director of Bupa UK Health Insurance, has stated that the ABI figures back up Bupa’s own experience over 2008.

A survey commissioned by Bupa revealed that over 80% of patients felt that despite the NHS achieving its 18 week waiting time target the length of time involved remained too long.

The healthcare firm’s research also revealed that anxiety over hospital cleanliness and superbugs such as C.difficile and MRSA were also fuelling increased PMI coverage.