Spending on Health Increases Despite Recession

Though businesses have been cutting back in many areas, employers are still dedicated to making sure employees are looked after. The average spend on healthcare benefits has increased by 180% in the last year according to research undertaken by Employee Benefits magazine.

This annual survey shows that 14% of all companies across the United Kingdom are now offering a paid healthcare scheme, in the form of Health Cash Plan, to their employees compared to just 5% of businesses that were offering it last year.

The most proactive businesses in this area are the small and medium companies, with 27% of businesses who employ 100 people or less are now implementing a cash plan, with only 17% offering it with employees of 100-500. A mere 3% of businesses with employees from 501-1,000 are offering this bonus.

A third of all business in the pharmaceutical industry offer healthcare benefits, closely followed by 26% of businesses in the building a construction industry.

This is a growing trend, and 22% of employers stated that they are planning on increasing the benefits they offer within the next year, as a way of helping employees look after their health in times of need.

Another result of the survey shows that 88% of all organisations have a stress management system in place due to the current economic situation. This is not only as a way to look after staff, but also to ensure they meet their legal obligations of care.

The Corporate Sales Marketing Director for Simplyhealth commented on this research, stating that: ‘Amidst all the doom and gloom we keep hearing about, employers are recognising how important it is to look after staff wellbeing in these changing times.’ The health plan provides an important support when employees have so much else to worry about.