This year is already shaping up to be one when prevention is taking centre stage. The Government recently announced the expansion of its WorkWell Scheme, expanding the support offered to employees with health conditions to stay in or return to work.
The £259 million Government investment has been well received by employers and advisers and hopefully paves the way for a greater focus on prevention and early intervention for the year ahead, especially off the back of the Mayfield Review and Keep Britain Working report which were delivered in November last year.
The Keep Britain Working recommendations are now in a three year Vanguard Phase to help test different approaches to employee health, before the final plans are put in place.
We recently conducted research amongst UK adviser firms and it was startling to hear that three in four adviser firms are not currently discussing the review or recommendations with their clients.
COLLABORATIVE MODEL
The Mayfield Review is one of the biggest developments to impact UK corporates in recent years. Despite the Vanguard Phase, the core principles won’t change, employee and workplace health must move to a more collaborative model where employers, employees, insurers and health providers all play their role.
It is no longer simply down to the employee and NHS to fix. If one in four adviser firms are already speaking with corporate clients about this is and what it means, that’s a good thing but the figure should already be higher. It is best to get ahead of it to make sure the future needs of organisations are met.
“Economic inactivity caused by ill health is costing the UK £212 billion a year and rising.”
Economic inactivity caused by ill health that prevents work is estimated to be costing the UK £212 billion a year and rising.
The cost attributable to cancer is estimated to be £12 billion of this. Early intervention, prevention and education – accessible to whole of workforces, not just the lucky few – is key to bringing the cost and number of people diagnosed with cancer down.
Therefore the onus will increasingly be on employers and insurers to pick this up for employees.
COST OF CANCER IN INSURANCE
In the last year alone we have seen a 60% increase in cancer support insurance cases. At the same time across the industry cancer is the main reason for 60% of payouts on Life Insurance, 40% on Critical Illness, over 20% on Income Protection and overall it equates to 43% across all three products.
The recent FCA interim Pure Protection Market Study urged the insurance sector to do more to help consumers access products that can support them and their families in the event of serious illness.
We fully support this, but it is important to realise that it is not just the payouts that can help individuals and families on their cancer pathway, it is also the prehab and posthab with physiotherapy, rehabilitation support, counselling and expert nutritional advice for example that can really make a difference with recovery.
Not only is it ethically the right thing to do but it will help get people back in to work faster, which many want.
EMPLOYER AWARENESS: PREVENTION AND PMI
We are certainly seeing changes, with more employers engaged on prevention and cancer care as they are learning it works, and that this can drive better outcomes for their workforce.
Employers will expect insurers and brokers to not only understand what can be done, but to have effective and value for money based solutions, so it is important those conversations are happening now.
“We are delighted to see insurers, and the NHS, better vetting partners and suppliers.”
As part of this we are delighted to see insurers, and the NHS, better vetting partners and suppliers and ensuring they are not just regulated but that they are also investing in technology and keeping data safe.
We are also seeing employer awareness increasing around PMI. Mainly that PMI doesn’t cover enough employees overall in the UK, as well as there being clear gaps in what PMI can provide in relation to cancer treatment.
Cancer currently represents over 20% of PMI claims, if external navigation and screening is provided sooner, this is another cost that can be significantly reduced and will additionally help employers and employees.
FINANCIAL IMPACT OF CANCER IN 2026
One in two people will get cancer in their lifetime, having the right protection policy in place has arguably never been more important and can help patients navigate their cancer pathway and lessen the steep financial impact that cancer can have.
Our recent adviser research further revealed that whilst 72% of adviser firms are talking to clients about the potential financial cost of cancer, 28% of those surveyed said they rarely discuss this with them.
These conversations are vital. It is particularly important given four in five (83%) people living with cancer in the UK say they are on average £570 a month worse off as a result of their diagnosis.
PIVOTAL MOMENT
The next three years of the Mayfield Review’s Vanguard Phase is a pivotal moment for employers to take prevention and workplace health seriously and invest in clinically robust solutions.
Prevention has a key part to play in bringing down the cost of claims and supporting employee health.
The employers who understand this will win the battle when it comes to reducing their group claims and having employees that feel fully supported.
If implemented correctly, these recommendations can improve outcomes for employees while helping to curb the escalating impact and cost of cancer in the workplace.
