July 14, 2024
This guide explores the fundamentals of company health insurance in the UK, such as its definition, cover options, policy details, and how it compares to personal health insurance plans.
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The exact benefits employers and employees can expect from a group health insurance policy depend on the terms of the policy itself, but some of the most common benefits include:
Quick access to diagnostic tests
Provider member benefits & rewards
Access to private treatments
Provider health resources & hotlines
Attractiveness to highly skilled employees looking for a job
It may relieve some financial burden from employees who would otherwise purchase personal policies
Reduction in employee absence and sickness
Ease of adding and removing employees from the policy
Improved staff retention & employee wellness
Increased productivity amongst the workforce
The premium may be deducted from pretax profits
It may relieve some financial burden from employees who would otherwise purchase personal policies
Employers have flexibility over what’s covered in the policy, such as whether outpatient cover is included and to what limit, or including additional cover such as physiotherapy or musculoskeletal. We advise that you consider the needs of your workforce dependent on the type of business you operate as well as your budget, and we can talk you through the options you may wish to consider in your unique case.
As independent health insurance brokers, we focus on working with companies to understand their needs and compare the most suitable options available to them on the UK health insurance market. As we’re independent, we provide unbiased advice throughout the process with the aim to find you the most inclusive, suitable and competitively price policy we can for you. As well as this, working with us offers several other benefits:
Your group health insurance premium will depend on many factors, such as where you’re located and the level of cover you require. If you’re unsure of exactly what you require, we’re on hand to talk you through the options and how including them within your policy may help you to achieve a group health insurance policy more suited to you and your employees. As with all health insurance policies, several factors will impact your monthly premium:
Outpatient care
Additional cover options
Claims history
Underwriting terms
Number of employees covered
Access to hospital lists
Policyholder location
Medical history of employees
With mental health conditions accounting for 11.6% of the working days lost in the UK, employers may find that a group health insurance policy helps to improve the wellbeing of their employees. Private healthcare offers access to many services that may help to reduce the onset of ill mental health and provide access to services that help treat the associated conditions, such as:
Many group health insurance providers offer access to resources such as private coaching and counselling. Offering employees an avenue where they can talk to qualified mental health professionals may help to reduce the onset of mental health conditions and improve their treatment in the event of ill mental health.
Having access to private healthcare may improve the flexibility employees have around when, where and who they’re treated by in comparison to public healthcare services. This may allow them to manage their schedule more freely and make mental healthcare more accessible to them.
Some private healthcare providers, such as Axa and Vitality, offer policyholders resources, incentives, and rewards for taking healthy actions and recording their process. Having access to a broader range of mental health resources may encourage employees to take healthier lifestyle actions, which may improve their wellbeing and prevent future onsets.
As the needs for your group health insurance policy changes over time, we’ll be on-hand to answer questions and advise you on the best actions to take. Whether you require an update to your policy coverage or the structure of your workforce is changing, our support goes further than the initial consultation.
Learn more about business health insurance in the UK by reading our explainer articles.
This guide explores the fundamentals of company health insurance in the UK, such as its definition, cover options, policy details, and how it compares to personal health insurance plans.
Read MoreIf you want private health coverage but are concerned about the cost, there are many ways to make policies more affordable for you and your family. Learn more in our blog.
Read MoreAffordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
Affordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
Affordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
Affordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
Affordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
Affordable Business Health Insurance. Our dedicated business team will find the most tax efficient solution.
