While women may live longer than men on average, according to a new report from the World Economic Forum and the McKinsey Health Institute, women spend 25% more of their lives in debilitating health. Closing the gender gap in private healthcare would not only increase the quality of life for working women, but could also add over $1 trillion to the global economy by 2040. Deloitte discovered through a survey with YouGov that, on average, women spend approximately £100, or 50% more per year than men on healthcare. This gap results in working women spending about £1.5 billion more on healthcare annually than men. Perhaps unsurprisingly, this difference is particularly pronounced in areas of fertility, menopause, and menstrual health—but women are also spending a significant 25% more on general healthcare, such as dental care, physiotherapy, and private GP visits. Despite most people being affected in some way by the consequences of the inadequate attention given to women’s health, it is still massively under-researched, overlooked, and stigmatised. In a 2021 study through the House of Lords, the UK was found to have the largest female health gap out of the G20 countries and the 12th largest globally.Lucy Perez Senior Partner at McKinsey & Company, states: “Women do live longer in poor health. That is what this health gap refers to. [We found] that the majority of this health gap is impacting women during their working years, between the ages of 20 and 60, not at the end of life.” Are women more likely to prioritise private healthcare?While specific statistics on women prioritising private healthcare are limited, there are indications that women are more likely to seek additional health services. 52% of women surveyed reported out-of-pocket spending on health per year, compared to only 39% of men, reports Deloitte. This suggests that women face more pressure to address their health needs through private means.Caroline Criado Perez author of ‘Invisible Women: Exposing Data Bias in a World Designed for Men’, argues: “Healthcare is systematically discriminating against women, leaving them chronically misunderstood, mistreated and misdiagnosed.” This suggestion is corroborated by a government survey that revealed 80% of women feel medical professionals haven’t listened to them—or haven’t believed them. In such circumstances, the difference between the numbers of men and women accessing private healthcare is not at all surprising, as the University of York reveals: women turn to the private sector because the quality of care is perceived to be higher, with better conditions and shorter waiting times, as well as the option to choose your own doctor. This is evidently still a significant problem, so what is being done to close the gap?In July 2022, the government published the first Women's Health Strategy for England, which has influenced significant improvement for women accessing HRT and increased cervical screenings. They also introduced the Women's Workplace Wellness platform, designed to support SMEs and third-sector employers by increasing knowledge and encouraging better practices around women’s health. Despite progress, gender inequalities persist in global health leadership, as Global Health reveals: only 27% of health ministers worldwide are women, and men outnumber women on the boards of global public-private health partnerships by 2-1. Although some advances have been made to address this disparity, statistics revealed by the Nordic Co-operation demonstrate that even in countries that show progress in this sector, such as Sweden and Norway, gender differences remain.So while the Women’s Health Strategy marks a step in the right direction, it lacks dedicated funding to make its ambitions a reality. As Dr. Edward Morris, President of the Royal College of Obstetricians and Gynaecologists, notes: “Confirmed funding to support the instrumental changes the strategy sets out is lacking and with existing budgets already being stretched further each year, it will mean that progress will be slow for vital initiatives like women’s health hubs.” He also notes that the strategy falls short in its commitments around supporting migrant women’s access to care. The opportunity for businessesQuite simply: offering health cover is attractive to female employees. But in addition, companies have a duty to their employees to ensure they are made aware of private healthcare benefits available to them, and to create a working environment in which women feel safe to access the help they need.By providing health benefits that allow women to access the care they need in a flexible way, you can better attract and retain women in your workplace. One way to do this is through investing in accessible platforms and apps, such as the YuLife employee app, which has three benefits specifically tailored to women’s health:Hertility: This organisation helps women proactively manage their reproductive health and seek support when needed.Female Invest: A platform that empowers women to take control of their finances and reduce financial stress.Stella: Encourages women to understand their cycles and bodies—a vital resource when one in ten women reported needing to leave their jobs due to menopausal symptoms.These features are additional to the other plethora of benefits offered by the YuLife employee app. Employees also benefit from general wellbeing support through meditation and counselling services, physical health tracking via step counting and meditations, as well as gamified reward systems that promote healthy lifestyles. By implementing such comprehensive app-based health benefits—and making it easier to fit these habits into a busy schedule—businesses can create an environment where women feel equally supported in accessing the care they need. What’s more, when the women in your workplace feel their needs are being taken seriously, they are bound to feel loyalty and productivity as a result.About YuLifeYuLife is working to reimagine the insurance industry by protecting lives, rewarding living and inspiring life. We’re on a mission to transform traditional insurance into a life-enhancing experience each employee will value and use daily. How does it work?Our award-winning app uses behavioural science and game mechanics to reward your people for living well while offering protection in case of crisis. And with our top-rated employee assistance programme, your team gets access to mental, financial and social support, virtual GPs, nutritionists, life coaches and more to help them live their best lives.Because we believe that your employees should benefit from their insurance from day one — and that wellbeing should be accessible every day, for everyone.Request a demo for your team today.