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  • FIRST POST
    • ThePants999
    • By ThePants999 7th Sep 17, 1:06 PM
    • 791Posts
    • 894Thanks
    ThePants999
    Corporate private health insurance
    • #1
    • 7th Sep 17, 1:06 PM
    Corporate private health insurance 7th Sep 17 at 1:06 PM
    Hi folks,

    My employer offers private health insurance as a benefit, which is obviously taxable. This year, the premiums have doubled and I'm trying to decide whether it's still worth it. I'm totally aware that (a) it depends primarily on our actual use of it, which you can't predict, and (b) different schemes will have different levels of coverage etc - but nevertheless, I'd be interested to hear from other people whose employers also offer healthcare what their premiums are. TIA!
Page 1
    • ACG
    • By ACG 7th Sep 17, 1:35 PM
    • 15,388 Posts
    • 7,782 Thanks
    ACG
    • #2
    • 7th Sep 17, 1:35 PM
    • #2
    • 7th Sep 17, 1:35 PM
    Is it an age related premium? Have you maybe just gone into a new banding? The other thing I have seen with one provider is that your premiums are the same for 5 years and then they jump up to the new age banding you are in.

    For example, their bandings could be 30-35-40-35. If you took the policy out at 37 you would have paid the 35-40 banding, you are now in the 40-45 banding...

    I do not really do health insurance and I definitely do not do group insurance so not best placed to answer but you may find the premiums flatten out now for another 5 years?
    Last edited by ACG; 07-09-2017 at 1:50 PM.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • Quentin
    • By Quentin 7th Sep 17, 2:00 PM
    • 32,726 Posts
    • 16,745 Thanks
    Quentin
    • #3
    • 7th Sep 17, 2:00 PM
    • #3
    • 7th Sep 17, 2:00 PM
    Some companies fund this themselves (but use an insurer to administer it for them eg. to validate invoices etc), and the "premium" shown as a benefit are notional figures which don't correlate with what you would pay yourself to an insurer.
    • ThePants999
    • By ThePants999 12th Sep 17, 10:19 PM
    • 791 Posts
    • 894 Thanks
    ThePants999
    • #4
    • 12th Sep 17, 10:19 PM
    • #4
    • 12th Sep 17, 10:19 PM
    We don't pay individually assessed premiums - everyone in the company pays the same premium. (Or rather, the company pays, and we pay the tax.) So no, not age related. We've been told the increase is simply because we all collectively claimed a lot last year!

    That's interesting, Quentin, thanks. Don't think it applies to us, though, we use BUPA and it's very clearly BUPA handling everything.
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