Private medical insurance (PMI) membership numbers and claims values hit record highs in 2024, according to data from the Association of British Insurers (ABI).
Overall membership numbers rose by 4%, however the surge in claims values outstripped this growth rising by 13%.
A total of 6.5 million lives were covered by PMI across individual and workplace policies in 2024, up from 6.2 million in 2023.
In all 4.8 million of these covered by workplace schemes, up about 2% from 4.7 million the year before and a second consecutive record in more than 30 years of data collection.
Around 1.7 million were covered by individual PMI policies, up approximately 13% from around 1.5m in 2023.
Claims paid values leap 13%
Overall, claims paid by insurers rose 13% in 2024 to hit a record £4bn. This was up from a previous record of £3.57bn in 2023.
The total number of people who claimed on either individual or workplace health insurance policies reached 1.8 million in 2024, up 10% from 2023.
The figures included individual and workplace PMI coverage and amounted to almost £11m paid out every single day across the year.
Workplace schemes continued to be the primary driver of this increase with claims values rising 16% from 2023 to £2.6bn.
The ABI figures also echoed research from Health & Protection’s Individual PMI Report for 2025, which found a further surge in claims numbers during 2024.
Individual PMI claims reported by insurers to Health & Protection soared to fresh highs in 2024, breaking the post-Covid surge seen in 2022, this was after appearing to plateau in 2023.
On a like-for-like basis, those insurers reporting claims figures showed a 25% increase in the number received from 2022 to 2024.
Claims declined rates, meanwhile, also rose at three of the four providers to report, with pre-existing conditions and moratoriums remaining a key reason and concern for declines.
Rebecca Ward, head of health and protection policy at the ABI, said: “Another record-breaking year for coverage, claims and pay-outs underscores the vital role of insurers in maintaining a healthy UK population.
“As a complement to the life-saving work of the NHS, health insurance continues to help individuals and their loved ones access timely medical testing, treatment and care when it matters most.
“Our figures specifically highlight the value of workplace health insurance schemes in supporting employees to stay well and in work – a key aim of Sir Charlie Mayfield’s Keep Britain Working review.
“Since the launch of the review, we’ve been engaging with members, government and Sir Charlie’s team to outline the role of employers and insurers in reducing health-based economic inactivity and driving a healthy, thriving workforce. We look forward to continuing this work in 2026.“
