Equipsme was built different from the get go. We’ve always targeted the overwhelming majority of uninsured workers in the UK – because we think health insurance should be for everyone, not just senior leaders who, let’s face it – already get a higher salary and better perks and benefits than the rest of the team.
We listened to what businesses really wanted and worked backwards. That means our entry level plan, together with our wellbeing support, maps to the three main causes of sickness absence for just £10.50 per person per month. It includes our 24/7 GP to help with minor illnesses, built-in physio to support MSK issues, and EAP for mental health issues.
Our flexible plans can also include preventative health checks, dental & optical as an optional extra, and health and wellbeing perks like gym and optical discounts.
Meanwhile, we’ve also got ‘PMI lite’ options – giving our members access to diagnostic tests and consultations, and to private treatment at Levels 2 and 1. We cover employees aged 16-69 for one transparent price.
We’re also upfront about what we don’t cover too. For example, we apply an exclusion of three-year pre existing conditions, and we don’t cover cancer treatment – these also help keep our prices more stable.
Safeguarding premiums
It’s this commitment to safeguarding premiums that is what’s really resonating with businesses and brokers right now – and helping give us so much traction in the market.
Because we focus on early diagnosis of cancer but not the exceptionally high private costs for their treatment, we’re limiting business exposure, and keeping costs down for all or members. We also apply a community-rated pricing approach, which helps us spread the load, with a strong track record of sustainability.
In fact, our most popular Level 2 plan, which includes diagnosis and treatment, has gone up around the equivalent of c.5% a year on average since our launch in 2018. That’s broadly the same as the Bank of England inflation rate for the same period.
Unique approach
We believe we’re also unique in the market because we allow individual members to pay in themselves to upgrade cover and add their family. It means that businesses can pay for an entry level plan and create a gateway to private health insurance benefits and services for their people and their loved ones.
It’s an option that can prove popular despite cost-of-living pressures – providing extra support to employees who value our health services.
The Big Switch
What all of this means together is that we’re seeing some companies make the Switch – switching to Equipsme from other PMI providers, and/or switching Equipsme on for staff for the first time.
Just last week I spoke to a client who had 150 staff on a PMI policy. A large cancer claim had put their renewal through the roof, and they were faced with the choice to cancel the plan for everyone, or find something new. Having come across Equipsme through their broker, they’re now planning to move their PMI employees over to Equipsme Diagnosis and Treatment Plus Level 2, AND put 200 other members of staff - who’ve never had health benefits before – onto GP Plus - Level 4.
We’re really proud to be here in the middle ground, helping organisations like this cover more or all of their workforce, control expenditure, and help meet their productivity goals at the same time.
We’d love to talk to you about how Equipsme could support your organisation or clients to make health benefits work better and harder.
Please do get in touch at [email protected] to chat about how we can help you or your clients.
