As private medical insurance costs soar, will it become an elite benefit?
Aon Employee Benefits, the UK health and benefits business of Aon plc (NYSE: AON), says rising costs associated with Private Medical Insurance (PMI) are creating pressure on HR and employers to find extra budget, without seeing any further advantages for staff. This raises the question of whether increases from Insurance Premium Tax (IPT), medical inflation and the impact of high cost cancer treatment will make employers question the affordability of PMI arrangements altogether.