Why is simple, affordable health insurance a good thing?
Did you know that it has been predicted that, from 2010 to 2030, England's population of people aged over 50 will increase by 51%?
A result of this is that by 2020, the Office for National Statistics predicts that people aged over 50 will constitute one-third of the working population.
How is this affecting the workplace?
The increasing elderly population has already impacted pension legislation, and continues to do so.
The Works and Pension Select Committee in Westminster released a report in February 2017 from the Institute for Fiscal Studies that suggested the state pension age would need to be 70.5 years by 2060 to support the level of pension spend.
The changes to pension legislation mean that people are in work longer, raising an important challenge for the working population as it ages. How can the ageing working population maintain being economically active if ill-health and disability strike?
How health insurance can adapt to suit the needs of the UK's older working population
Already people have health conditions that need managing and people are struggling to get the support and help from an overstretched NHS. What are needed are integrated solutions between the NHS and the private sector.
A priority here is to provide innovative solutions for the ageing working population and address the implications for the health and social care services. This private sector health support can often be provided by employers at very low costs.
Health insurance can help to support those working people who are affected by chronic conditions which require health management and interventions. This can be implemented rather than seeing people leave employment, especially if we are all expected to stay in work for longer.
Individuals need access to simple affordable health and wellbeing insurances that address their everyday health needs and that complement and work alongside the NHS. The easiest way to deliver this is through the workplace.
This article was provided by Busy Bees Benefits.
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