Eight in 10 UK employees have cut spending on routine healthcare costs, according to a snapshot survey by Health Shield Friendly Society.
The survey carried out by Health Shield last month among 590 people in full or part-time work, found 81% had reduced their spending on routine healthcare costs, including optician’s appointments, dental services and physiotherapy.
More than a third (36%) claimed they had reduced spending “a lot” due to the cost-of-living crisis.
A similar percentage (32%) had cancelled check-ups and almost two in five (37%) have either skipped meals already or are planning to. Nearly nine in 10 (87%) are already purchasing cheaper food.
More than 80% of people in the age groups 18-24, 25-34 and 35-44 said they had reduced their spending on routine healthcare costs due to the cost-of-living crisis.
Those most affected in terms of reducing their healthcare spend are those earning between £10,000 to £15,000 per year (84%) and those earning £15,000 to £25,000 (86%).
Nearly half (49%) of employees said a pay rise of £100-£200 a month would be needed to make a meaningful difference in supporting them with the increasing cost-of-living.
Jennie Doyle, head of marketing at Health Shield, said while the cost-of-living crisis was affecting everyone, it was clearly those at younger ages and at the lower end of the salary scale that were having to make the most sacrifices.
“It’s a huge worry that basic healthcare seems to be taking a hit,” Doyle continued.
“While a pay rise of £100 to £200 a month per employee might be challenging right now for many employers, an investment of around £8 a month per person in a health cash plan could be more realistic.
“Especially when this is considered a genuine investment, not only in the health of employees, but also in the health of the business; helping reduce absenteeism and presenteeism.
“This obviously has positive knock-on effects on organisational reputation too, in terms of demonstrating that if people are placed first, the profits will take care of themselves.
“This was played out admirably by many employers during the height of the Covid-19 pandemic. Now it’s time to show it during the cost-of-living crisis.”