Medicash saw premium income rising by 21% in 2024.
Technical income increased to £61.7m, up from £51m in 2023, with a technical account profit of £1.6m.
The not-for-profit insurer also saw its total number of policyholders increase by 9% to 641,000 over the year.
Though the company has reported that numbers have accelerated even further in 2025 to 680,000 at the end of June 2025.
Around 4,800 companies now offer Medicash benefits.
Medicash reduced its expense ratio to 21.3% from 23.1% the previous year.
Andy Roberts, finance and IT director at Medicash, said: “Our sustained growth is a testament to the strength of our digital-first strategy and our commitment to preventative healthcare,
“We’ve continued to evolve both our internal systems and the digital services available to policyholders, enabling us to deliver highly competitive, affordable cover while keeping administrative costs low.”
Roberts added: “Today’s employers are thinking beyond traditional health insurance.
“They want solutions that empower staff to be proactive about their wellbeing. By continuing to harness our IT capabilities to automate and streamline internal processes, we’ve been able to generate significant efficiency savings.
“These savings are reinvested into enhancing our products and services – helping us introduce innovative life-enhancing benefits like HealthLens and Eargym, which represent the future of accessible healthcare.”
Andrew Healy MBE, CEO at Medicash, (pictured) said: “Our business performance in 2024 and to date in 2025 has been highly encouraging. We’re giving employers market-leading offerings to truly enhance the health and wellbeing of their workforces.
“We’re combining outstanding customer service with smart investments in technology, ensuring we deliver high-quality healthcare solutions that people can trust. Our foundation is also making a real difference to multiple worthy charitable and community causes.
“As we look ahead, our strategic focus remains clear: we’ll continue to invest in digital innovation and expand the health benefits we offer to our customers while staying true to our community values.
“This focused ambition will position us strongly for continued success and even greater impact in the years to come.”