Healthcare spending “to double” says Simplyhealth

Companies are more than doubling their spend on healthcare benefits despite the economic downturn, according to new research from Simplyhealth.

The provider’s Bothered Britain Report 2009 found that 60 per cent of HR professionals believe health benefits packages have become more important in the last 12 months, with 40 per cent stating that they are a key influence in recruitment and retention.

As a result, budgets for health and wellbeing have increased, with over a quarter, 26 per cent of companies confirming they will be increasing the range of healthcare benefits that they offer in the next 12 months. A third also stated that they will spend more money on their healthcare provision, a figure which has more than doubled since 2008.

James Glover from Simplyhealth says: “It is great to see that companies are still bothered about the health and wellbeing of their employees in these turbulent times. Increasing pressure on businesses and employees has seen a rise in stress levels and combined with global health scares, employees are now taking health benefits seriously.

“This is why it is important for companies to really look at their employer and employee needs and address these with a comprehensive health benefits package that is cost effective and adds tangible value for the company.”