Private medical insurance

Private medical insurance made simple

Employee wellbeing risk is a business risk, as the last few years have demonstrated all too clearly. Private medical insurance (PMI) is one of the best ways to help mitigate wellbeing risk, by giving employees access to quick diagnosis, medical support and preventative tools that can help them improve their overall health.

Simple

MMB’s PMI experts can help you find the right PMI policy for your business, whether you’re implementing it for the first time or updating existing cover to meet new workplace and employee needs.
Well-researched

We have long-term relationships with all the major health insurers, and the scale of our client base means that we are in a great position to negotiate exceptional deals and ensure return on investment.
For all businesses

Whether you’re a start-up of one or a multi-national corporation, MMB can help support your PMI needs.
Unique partnerships

Our strong provider relationships mean that we are able to negotiate Preferred Partnership Agreements (PPAs) with major insurers, giving small businesses access to the same types of cover as large organisations.
Delivers peace of mind

When an employee has an illness, is in discomfort or even unable to work, the main priority is to make sure they are treated as soon as possible and receive the best available treatment.

How you can benefit

We help employers develop policies that are right for their workforce. A typical policy might provide employees with fast access to a private consultant, diagnostic tests and if required in/day patient treatment. Some policies will offer private GP appointments, or access to a virtual GP, and can book consultations with a specialist for you.

Some of the features and benefits of PMI include:

Treatment in clean, modern facilities, with advanced technology.
Cover for serious illnesses, such as cancer.
Choice over who will supervise your treatment and which hospital you visit.
Physiotherapy and complementary practitioner treatment.
Access to your own, private room.
Unrestricted visiting hours.

As an insurance intermediary, Mercer Limited, trading as Mercer Marsh Benefits' (MMB) role is to place insurance coverage for our clients. We are compensated in a variety of ways, including commissions and fees paid by insurance companies and fees paid by clients. MMB may receive compensation through one or a combination of the methods listed below:

A commission is paid to MMB by the insurer as a percentage of the premium charged to the insured for the policy. The amount of commission may vary depending on a number of factors, including the type of insurance product sold and the insurer selected by the client. Commission rates can vary from transaction to transaction. Client Fees: Some clients may agree to pay MMB a fee for MMB services in lieu of, or in addition to, commissions paid by insurance companies.

MMB receives compensation from insurers for providing consulting, data analytics or other services. The services are designed to improve the product offerings available to our clients, assist insurers in identifying new opportunities, and enhance insurers' operational efficiency. The scope and nature of the services vary by insurer and by geography. MMB is compensated for these services through fees.

MMB may, from time to time, participate in insurance company promotional events or employee training and development provided by insurers. Sometimes, MMB is reimbursed by insurers for its costs related to promotional marketing.

In common with many financial organisations, we provide a range of services to many clients. We also provide certain services to insurers. Situations may arise in which the interest of a client may conflict with those of another client or with our own interest.

Accordingly, we have policies and procedures in place to ensure that should such circumstances arise, they are managed appropriately.

In an effort to advance the interests of our clients, we constantly search for innovative offerings and solutions.

For reference, you can access our Conflicts of Interest policy here which also references our Greater Good policy here.

Intra-Group

The Marsh McLennan group (NYSE: MMC) contains a number of businesses. Mercer is a premier employee benefits consulting firm that may provide health and benefits consulting and insurance placement expertise to MMB clients. Guy Carpenter & Company is a leading reinsurance broker, and it may place reinsurance for insurance companies that insure a client's risk through MMB. Oliver Wyman is a global leader in management consulting that may provide actuarial or consulting services to MMB clients.

Data Analytics

MMB may include, on an anonymous basis, information relating to its clients' insurance programmes in benchmarking, modelling and other analytics. MMB offers an array of analytics capabilities to clients, insurers and others. For clients, these offerings include benchmarking databases, analytics and modelling tools, surveys and other compilations of information, which are designed to help clients more effectively assess their risks, make more informed decisions and construct insurance programmes and other risk mitigation strategies. MMB or its affiliates may in some instances receive compensation for its analytics offerings from clients, insurers and others.

Prepare for the benefits of PMI

To make sure that employers and employees both get the most out of PMI cover, here are three key points to think about:

Understand what you want your PMI package to achieve — both in terms of meeting business objectives and giving cover to employees.
Decide how to communicate PMI’s value — this is a great opportunity to show employees that you are committed to making sure they are safe and cared for through work.
Create a joined-up approach to wellbeing — PMI is an important cornerstone of employee wellbeing strategies. Making sure employees know when and how to use PMI as part of their wellbeing benefits will help support return on investment.

Rapid access to private consultants