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.
Read MoreHelping you find the best small business health insurance policy for your company or group.
Small business health insurance covers the cost of providing employees, directors and stakeholders with access to private healthcare services such as diagnosis and treatment. There are many small business health insurance providers to choose from, all offering a unique range of additional medical protection and benefits, such as 24/7 access to health advice, digital resources and rewards simply for being a member with them.
A small business health insurance policy needs to match the conditions of the company and workforce or team it is covering. For example, if you direct a labour intensive workforce, additional treatments such as physiotherapy and osteopathy may be an important inclusion in your small business health insurance policy. Tailoring your policy around such details is a great benefit, as these will ensure that everyone in your team gets the most out of their private cover. We can support businesses in understanding the different options and how to best cover their workforce, but below are some of the common benefits small businesses may realise from a small business health insurance policy:
Understanding all the plans, policies and protection available from the different small business health insurance providers, such as their benefits and exclusions, may be time-consuming as well as it being difficult to access all of the information you need. As independent brokers we can advise and answer critical questions on all of the providers we work with, without being biased. You’ll be allocated a Personal Account Manager who will work with you directly to discuss available small business health insurance options, your full requirements and budget.
Increased from 20.8% in 2019 to 29.5% in April 2020 and then fell back down to 20.8% by September 2020
the cost of poor mental health from employees for UK employers each year (as of 2020).
As the above statistics show, the issue of mental health in the workplace in the UK is still prevalent in 2020 - and has only been exacerbated by the COVID-19 pandemic, with many suffering from stress, anxiety and a host of negative issues while at work. When it comes to dealing with mental health in the workplace, what can you as a small business do to help out?
Many employees won’t feel comfortable or know where to refer themselves to if they require mental health help. Medical professionals and health workers will be available 24/7 via the providers’ application, making them easily accessible when an employee needs support.
Health insurance providers may include access to private counselling, helplines and digital health resources as part of your cover. Medical professionals and the readily available resources may be qualified to advise and help to diagnose mental health issues before further treatment is needed.
Having access to private health treatment may encourage your employees to utilise the benefits available to them, which may help towards improving their lifestyle. Some insurers may offer incentives for employees taking health actions such as exercising, which in turn may help to create a healthy culture amongst your workforce.
Private health insurance access may lead to reduced waiting times in comparison to public treatments and offers more flexibility in appointment times and locations. This flexibility allows employees to seek mental health treatment around their schedule, without causing conflict with other arrangements they may have.
Small business health insurance is no different to a personal policy in the sense that the price will reflect the conditions of those being covered, the level of protection opted for and how many staff members are within your business. We can discuss the options available for reducing your premiums, but here are the factors and conditions that will influence the price of your small business health insurance policy:
Your employee may have the option to continue their cover under a personal health insurance policy with the same benefits and underwriting in the time after leaving. In this event, we can offer to help any of your employees leaving employment with you find a new health insurance policy that works for them.
If small business health insurance isn’t wasn’t the kind of cover you were looking for, you can browse some of the other business insurance pages we have below for more information.
Corporate Health Insurance is a type of business health insurance for large companies and their workforce. Learn more about our corporate health insurance with the link below.
Learn More
Need to start considering whether you're going to renew your policy with your current provider, or considering a new provider? You can learn more about our health insurance renewals here.
Learn MoreBelow you'll find our latest blogs covering the topic of small business health insurance. To see more articles like this, you can view our Health Insurance News & Blogs page here.
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.
