Private Medical Insurance

Lifestyle

Colleagues at band 7 and above are entitled to Private Medical Insurance, as a company funded benefit. Please be aware that this is a Benefit in Kind for tax purposes.

Colleagues will need to opt into the Private Medical Insurance (PMI) plan, either when they join or in May/June each year (renewal date).   Please note Private Medical Insurance is classed as a Benefit in Kind by HMRC; the amount of tax yo need to pay will depend on your personal situation and be payrolled (no action required from colleagues).
The telephone number for members to call for assistance is 0800 051 8018.  Policy IDs can be found on the welcome pack from Axa.

Please note the policy is now operated on an age-related pricing structure, with underwriting.  In previous years, the policy has been a Group risk scheme, however this is no longer offered by our insurers.

Membership Handbook
Membership Guide
Joiner Form

Why join?

Put simply, having PMI cover means that if you need medical treatment that is covered by the plan, you no longer have to join the NHS waiting list, and can take advantage of shorter waiting times for appointments that suit you.

There are lots of benefits which, as well as other important information about the plan, are detailed in the membership handbook.   

How to Join

If you are eligible, you will receive an invite to join from reward@anchor.org.uk when you start and you will need to complete the joiner form and be underwritten by Axa before your policy starts.   You will then receive an annual invite to renew around May/June.  If you have any queries please email reward@anchor.org.uk.

Where colleagues join part way through the policy year, there may be an adjustment to the premium cost at the end of the year.

How to cancel

When you join you are signing up for an annual policy, which can only be cancelled mid year in the event of a significant lifestyle change. 

If you are an existing member and do not wish to renew on 1 June, please let reward@anchor.org.uk know by mid May each year.

Can I add family? 

Yes you can upgrade your benefit cover when you initially join or at annual renewal.  We will email you each year at renewal time to give you the option to join/renew/upgrade. The additional cost will be funded by you through 12 monthly payroll deductions.

You can add children up to the age of 30 years old.

What happens if I leave Anchor? 

Your cover (and any family cover where applicable) will end the day you leave Anchor employment.  However, you can call Axa to arrange continuation of cover at a cost to yourself.

How much does it cost? 

Effective from 1 June 2025, the Anchor Private Medical Insurance benefit is an age-related pricing policy.  We will advise you of your individual premium at renewal/when you join.  Where the benefit is funded by Anchor (i.e. forms part of your benefits package) the cost is for tax purposes only. 

If you would like to upgrade your benefit cover to include family, let us know when you join/renew by sending us the completed underwriting form for them.  You can apply the following multipliers to your premium to get the cost of a  quote:  x2 for a partner, x2.5 for family and x1.6 for single family cover.

How do I apply?

All the information you need about this healthcare insurance plan is available
in the membership handbook. 

If you’d like to apply for cover, please respond to your invite when you join or when we send you a renewal invite (May/June)