UK Health Cash Plans market report
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Providing the most comprehensive and up-to-date information and analysis of the Health Cash Plans market, and the behaviours, preferences and habits of the consumer.
Mintel has the answers you’re looking for
What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
This report examines the following issues:
- Increase visibility on price comparison sites to help educate consumers
- Develop propositions that allow employers to tailor benefits to suit the specific needs of their business
The health cash plan market in the UK is mature and stable, with little change in the market shares of the leading players from year to year. It is largely served by not-for-profit organisations, which specialise in offering cash plans and other related healthcare products.
In recent years, overall market performance has been rather uninspiring, although this disguises some variation between individual companies. The sluggish growth is mainly due to flat sales in the personal sector (ie cash plans bought independently by consumers). The corporate sector has seen growth, but this has yet to translate into a significant rise in total market value.
Nevertheless, the key market fundamentals remain sound. Demographic and lifestyle changes are putting an increasing financial strain on public health services, while NHS spending is set to slow over the next few years. These factors, along with sustained interest from employers and intermediaries, will continue to underpin demand for healthcare insurance products, including cash plans.
Mintel's market analysis, therefore, not only looks at recent performance but also considers its prospects for future growth. Complementing this analysis are the results of our consumer research. The online survey reveals current penetration rates and examines attitudes towards the product, along with levels of consumer awareness and engagement. It also identifies the main market barriers, and offers strategies to overcome these for consideration.
Expert analysis from a specialist in the field
Written by Sarah Hitchcock, a leading analyst in the Finance sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
There is a clear need to improve consumer awareness and understanding of health cash plans, as many people confuse them with PMI and few consider them good value for money. Only by overcoming these obstacles can providers significantly increase take-up.
Senior Financial Services Analyst
What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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