UK - Cut-Price offers from private healthcare providers are giving employers a new alternative entry level to the market, Mellon Human Resources & Investment Solutions claims.
Last year Mellon warned businesses to expect a 70% rise in private medical benefit costs over the next five years.
But Mellon believes the new “no-frills” options will make private healthcare affordable for many more companies.
Mellon describes the new products as a halfway house between NHS provision and a full – but expensive – private healthcare package.
Mellon HR&IS health and welfare managing director Adrian Norris said: “With the cost of private healthcare continuing to increase it is encouraging to see the market adapting.
“Particularly the way in which some private hospitals and other treatment centres are finding ways of lowering charges to remain competitive.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers