Corporate dental insurance plans have the potential to be the new low cost employee benefit, according to CIGNA Healthcare.
Speaking at a recent healthcare insurance conference, James Kenrick, CIGNA’s sales director, said: “Dental insurance is one of the most promising potential markets in health insurance. While the UK PMI market shows little sign of growth, with only 4.7% growth between 1991 and 1997, most of which was in the company paid sector, the dental care market presents a far more positive opportunity.”
He added: “The dental care market is one of the fastest growing sectors of UK healthcare, estimated at £2.6bn in 1999. The growth in its value has largely been fuelled by patients moving from the NHS and means that private dental treatment is market now worth approximately £1 bn.”
According to the insurer, NHS patients now pay 80% of the cost of their treatment. A corporate dental scheme would cost the employer or employee just £10 per month.