Liverpool health cash plan provider Medicash attracts record number of new policyholders in 2022 taking its total close to half a million. Tony McDonough reports
National health cash plan provider Medicash signed 125,000 new policyholders in 2022 – a record increase that takes the total to 482,000.
In 2021, Liverpool-based Medicash celebrated its 150th anniversary and these latest figures make 2022 the most successful year in its history. Sales and marketing director Paul Gambon described the figures as “truly exceptional”.
Medicash, which has its headquarters in Derby Square, has yet to publish its financial results for the year on Companies House. In September LBN revealed the business reported a rise in revenues to £34.5m for 2021 but a fall in pre-tax-profits to £8.5m.
Mr Gambon said: “This (the latest policyholder figures, reflects the hard work and commitment of the business to offer market-leading products and services.
“On average, we sold one new policy every two minutes in 2022, with sales up an incredible 84% on our previous record year.
“The demand for employee health benefits has surged in the wake of the cost of living crisis. There has been a huge rise in employers looking to support their staff’s physical and mental healthcare costs, and a health cash plan provides the perfect means of doing so.
“It’s very rewarding to know that by offering modern, highly accessible plans at low costs, we’re facilitating better workplace attitudes toward health overall.”
During 2022 Medicash received three separate awards for Best Cash Plan Provider in 2022 by the leading industry publications.
Chief executive Sue Weir added: “At the centre of this incredible period of growth is the high level of customer care that Medicash policyholders have come to expect.
“Great service is at the heart of everything we do here at Medicash. As our customer base grows ever larger, one of our top priorities has been to make sure that every policyholder receives excellent service, even at our busiest times.”