Nearly 7 million adults in UK have private medical insurance: Broadstone

Three quarters held cover through employee benefits

Jaskeet Briah
clock • 2 min read

Analysis by Broadstone has found that the number of adults with private medical insurance (PMI) has increased by one million over the past five years.

The independent consultancy analysed data from the Financial Conduct Authority's (FCA) Financial Lives Survey, published in July, and found that 13% of adults have PMI cover, equivalent to 6.9 million people. Of those with a PMI policy, three quarters (76%) held cover through an employee benefits package, while 19% of workers were self-funding. Adults aged between 35-44 and 45-54 years old had the highest level of coverage, both at 22%. Brett Hill, head of health & protection at Broadstone, commented: "The FCA's research paints a helpful portrait of the PMI sector and shows its imp...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on PMI

Simplyhealth names Rita Clifton as chair
PMI

Simplyhealth names Rita Clifton as chair

Current deputy chair of the John Lewis Partnership

Jaskeet Briah
clock 07 January 2025 • 1 min read
Starmer opens door for NHS collaboration with private sector
PMI

Starmer opens door for NHS collaboration with private sector

“Approach must be totally unburdened by dogma”

Cameron Roberts
clock 07 January 2025 • 4 min read
Emma Thomson joins Reframe Cancer as consultant
PMI

Emma Thomson joins Reframe Cancer as consultant

Shaping protection proposition

Jaskeet Briah
clock 03 December 2024 • 2 min read