Employers are cutting back on company health insurance schemes according to research by ActiveQuote.com, a price comparison website specifically for private health insurance.
As the recession continues to take its hold the research revealed that 1 in 20 people in the UK said they know someone who has lost their private healthcare due to redundancy.
Employees who have relied on their company to provide them with private healthcare are now facing the prospect of having to find an alternative provider. But many people could end up paying extortionate prices because they don’t know enough about the choices available to them.
Richard Theo, Director of ActiveQuote.com, said: ‘Our research shows that people simply don’t know enough about private healthcare – and are paying dearly as a result. Many who have a pre-existing medical condition or know somebody who has, wrongly assume they won’t be able to get cover if they change insurer. So people are sticking with an uncompetitive policy simply because they believe it’s all they can get.’