Advisers must communicate to young people the importance opting in to company private medical insurance (PMI) schemes despite the additional hit to their pocket of employee benefit taxes, Health & Protection’s Health Summit has heard.
Asked how often P11D charges become an issue for scheme members amid a cost of living crisis, Towergate Health & Protection head of specialist consulting Debra Clark revealed this tended to be an issue among young people.
“They see themselves as invincible, healthy so I think there is a job to show some of those added value benefits,” Clark (pictured) said.
“The bit I return to is sports injuries and if you get a sports injury, how long would that take you out? And being able to access good physiotherapy and the like quickly is important.
“It’s about demonstrating that the P11D is worth the money because at first glance, even £20 a month extra from their pay packet is something most young people would be questioning whether that is a good deal for them.”