In true STW fashion, I need to ask for advice on a topic I have no knowledge of.

A change of job means I’m now eligible to join my companies private health care scheme. It’s been offered as an advantage, but from the little I’ve been told it’s going to cost me £80 month in additional tax to cover my family.

Any advice welcomed please.

It’s a con innit. No doubt private health care can get you fit and well and back into work quicker than the NHS can.

My wide gets an all singing, all dancing BUPA package for the both of us. Costs about £25 in tax a month, the equivalent cover is well north of £150 it would seem.

She’s used it a couple of times for minor (bike related crash) ops & been seen to before the NHS even respond to a referral from the doctor. Treatment was very good.

I’ve used it also & no complaints from me. In fact i’m about to use it again on Friday. It sounds fairly heavily subsidised if that’s for a whole family – if the cover is good I would go for it, if it were me.

£80 a month sounds a lot.

My (albeit individual) policy has a P11D value of £425 per year, so I think my employer pays about 75% of the cost.

In tax terms this means it costs me £15 a month, I think.

How much is your company paying towards the cost? And will it change if you get promoted? If I was a grade higher then my husband would be added to my policy FOC.

I’d be surprised if it cost you an extra £80/month. More likely taxed as if you earned an extra £80/month, so maybe an actual cost of ~£15/month depending on your tax band.

I get it through work, never used it but know folk who’ve said it’s handy for things like physio where NHS waiting lists are weeks long but a private referral will get you seen in days.

Sounds like my place. I would be covered, but for full family cover I would have had to pay extra (notwithstanding the BIK issue). Even then the kids wouldn’t covered for two years (?!). I turned it down and took the cash alternative instead, which I pay tax on so hopefully helps funds the NHS 🙂

As above, I doubt it will cost you £80/month. You’ll probably pay tax on the £80/month benefit in kind value. So if your marginal rate is 40% then £32/month or £16/month for a 20% tax marginal rate.

Thanks for the responses so far, keep them coming.

I’ve been told the value of the scheme for PD 11 tax purposes is approx. £2400 for the family and it was explained to me I’d pay 40% (my tax rate) on this, hence £960 PA, or £80/month.

IMO definitely worth it, Steve Peat was pretty open about how he would have got no where near the knee treatment and rehab had he been “NHS only”

In 30 odd years I never really had a need to claim for anything particularly significant for me or my family but I know otehrs who have and its made a huge difference. As those of us who do relatively high risk sports its well worth having. No Private Health will not fix you if you have a car crash (that’ll be the NHs) it will help with rehab for example.

I get it through my work and I cautiously recommend it. I’m a bit torn over it as you shouldn’t need it, however it’s the difference between having a consultation (literally) tomorrow or waiting 6 months on the NHS which swung it for me.

Had it for around 8 years and I’ve had a few things done recently – £400 of physio after a non fault bike accident, UTI related investigation (cost ~£1K, apparently).

Thanks for the responses so far, keep them coming.

I’ve been told the value of the scheme for PD 11 tax purposes is approx. £2400 for the family and it was explained to me I’d pay 40% (my tax rate) on this, hence £960 PA, or £80/month.

£2,400 is at the very steamy end for a UK corporate PMI rate. Could be several reasons for it being so high but I reckon you could maybe source cheaper cover yourself

I’ve got it through work and feel I need to have it should anything happen to any of the kids or the missus. However, I don’t like it as it’s all part of the two tier system we’re all being forced into. As one of the “haves” I’m well aware that makes me a hypocrite.

I have it through work – package with Aviva. I’ve used it twice so far – distal bicep re-attachment and a torn rotator cuff repair. Amazing service, and was able to get physio at a place of my choice so got to use Harris and Ross.

The speed in which you can get in, fixed up and in with a decent physio is fantastic. Both my issues would have taken months just to get the MRI scans done. With private it was 4 weeks from first consultation to operating theatre.

@davo pretty much the whole of Europe spend much more on private health care than we do in the UK and the private and public sectors work really well together there.

A good (mtb) mate whomworked for nhs told me ages ago don’t wait 8-12 weeks for a consultant appointment just pay £250 and see the same guy “privately” in a week then get treatment on NHS. My mum was in agony and could hardly walk for 6 months as Nhs kept fobbing her off, she refused to “go private” as my parents are lifelong Labour voters. Eventually she agreed as my wedding was rapidly approaching and it was sorted in 2 weeks.

I use to have it and they worked the BIK out on how much had been ‘claimed’ the previous year, and it was irrelevant whether it was just for employee or employee plus spouse or kids as well.

Worked out well for us as the same cost for the five of us. Used twice, once by my wife (basically she had kidney stones out when it suited and a private room) and then for myself where I was waiting for 3 days for theatre to be free (got money for not going private).

No idea now on pricing.