Company Health Insurance For Corporate + Small Business
Company health insurance provides the employees of the company with quick access to high quality medical care, advice and support. The coverage for employees can be personalised to suit the company’s healthcare needs and budget. An average of eight days is lost every year due to illness of employees. For a business with a small group of employees, this can have a large negative impact on the business. Company health insurance guarantees that employees will get the best treatment promptly, so they can be back at work sooner.
Company health insurance covers the same acute conditions that most private medical insurance policies cover. For businesses, the coverage is usually more generic than policies that are customised for individuals, and the same exclusions apply which are chronic conditions and pre-existing conditions. Private health insurance is not a substitute for the NHS. Chronic conditions, accident and emergency services will still be treated by the NHS.
Benefits of Company Health Insurance
Offering private health insurance to employees is a powerful tool for recruiting and retaining top employees. It tells employees that they are valued team members, because their health and wellbeing is important to the company. It is a very attractive part of the remuneration package.
If an employee is diagnosed with cancer, some insurance companies will supply support and cover throughout the treatment. Employees will have access to the latest drugs and may receive chemotherapy at home. This kind of coverage gives employees great peace of mind.
Insurance companies can work with hospitals and consultants to make sure they deliver high quality health care at affordable prices. Company health insurance is possible for as few as two employees. Companies acquire a high quality medical insurance product at a discount price because they are able to buy in bulk.
Corporate Health Insurance Increases Productivity
- Employees receive diagnosis, tests and treatment without waiting. This gets them back to work sooner.
- Locations for treatments are convenient so appointments take less time and can be arranged around production schedules.
- Health care plans can be customised to suit any company budget.
- Cost management options enable easy payment plans.
- Insurance companies offer guidance and support services so the insured business meets it obligations for employee care as well as getting protection from litigation.
Health Insurance for Medium and Small Businesses
Health insurance for medium and small businesses is crucial for retaining employees, because losing one to sickness more easily weakens the team. It also provides quick access to diagnosis and medical treatments for lower absenteeism. It includes convenient locations for consultations and appointments that can be scheduled around working hours. On-going care and support for cancer patients as well as optional family coverage plans is included.
Planning for appointments, treatments and consultations can be done to reduce medical absences for non-urgent conditions.
Treatments will be conducted in private hospitals and en suite private rooms with TVs and other amenities.
Health Insurance for the Self-employed
The self-employed can get all the same benefits of private health insurance as any other small business or large corporation. These plans can be custom made to fit any kind of business and give all the coverage needed at an affordable price.
For the self-employed, the business could fail while you are waiting for treatment from the NHS. Most NHS waiting times are 10 weeks or longer. Self-employed health insurance will allow you to receive treatments when it is convenient for you.
Coverage for a Self-employed Health Insurance Plan
All plans give full coverage for inpatient healthcare which includes the stay in hospital, tests, consultations, scans and treatments.
A comprehensive plan will also give outpatient coverage including psychiatric, physiotherapy and overseas coverage. It will also cover specialist consultations and the more advanced diagnostic tests. This plan will also allow you to arrange outpatient healthcare according to your working schedule.
Many people who are self-employed sit for long hours at a computer. The comprehensive plan will provide for osteopathy, acupuncture and physiotherapy that may be needed for stress issues in the neck and back.
It is also not unusual for self-employed people to travel a lot and work in countries overseas. International emergency medical insurance can be included in a self-employed plan, so all medical needs are covered at home and abroad. This can also include repatriation to the UK if needed.
All plans can be customised to suit the budget of a self-employed person.
Different Company Health Insurance Plans
• The company can pay outright for a blanket medical insurance policy that covers all employees.
• The company can pay part of the cost of the medical insurance, and the employee pays the other part.
• Employees can pay the whole cost themselves, but the company offers the insurance at a greatly reduced rate. Companies are able to do this because they purchase the insurance at a bulk rate.
Business health insurance can be specialised to cover:
• Dental insurance
• Travel insurance
• Flu vaccinations
• Maritime shipping
• Oil and Gas
• International schools
• Particular countries where the company has offices
Company health insurance policies are usually much cheaper than individual policies with the same type of coverage. Because of this, the market for company medical insurance is highly competitive. If you are looking for any type of company health insurance, be sure you know your businesses needs before you look for a plan. Ask questions to every insurance company under consideration and be sure to get the right coverage at the best price for your business.