Professional Risk Protection Experts

Small Business Health Insurance

Making sure that your employees are happy and healty should not cost the world. This is why we are here to find you the best quotes that suit your team.

With standard to bespoke policies we are able to help you find the perfect cover for your whole team. Helping you to have maintain a happy and healthy work place environment.

One way an employer may aim to attract and attain the best people is by offering their staff the benefit of health insurance. Like individual health insurance, corporate health insurance aims to pay for the cost or a portion of the cost it would take to be treated privately.

The main difference is that the employer takes it out to cover those they employ.

When an employee is faced with an illness, they can pay a small sum to be treated privately, and the rest is covered by the policy purchased by their employer.

Your business will receive one policy covering whoever you choose to offer the cover to, provided no one is left out for disciplinary reasons. By spreading the cost across a larger group, the cost of these premiums is usually cheaper than it would be to ensure everyone individually.

Do you need private medical insurance?

Having health insurance for you employees can provide significant long-term benefits to both your business and those you employ.

The benefits for your employees:

Access to treatment for a wide range of illnesses, which can include mental health treatments for things such as stress.
Shorter waiting times for treatments and usually hours that work better around work schedules.
Care that better suits the individual in many cases.
Some policies will also cover family members, offering further peace of mind.
They often include a 24-hour GP or nurse practitioner phoneline.

The benefits for you as an employer:

Your staff will not have to wait in long NHS waiting lists for treatment and as a result they are likely to recover faster and return to work sooner.
Employees will be able to see and talk to a GP outside of office hours.
This will help to improve employee wellbeing and in turn can help to boost productivity.
It can help to attract and retain the best people.

Things that will affect corporate health insurance costs

Prices for group health insurance policies tend to start around £250 per employee per annum. In some cases, though costs have been known to reach around £1000. This is because a number of factors change the price you will pay as an employer.

Policy group size

Generally, when taking out a policy it is seen that the higher number of people who will be covered, the lower the price per employee it will be. For smaller businesses of fewer than 250 employees, it is generally regarded to cost more, however there are specialist policies available.

Average employee age

It is cheaper to insure younger employees. Because this is a group policy, it is the average age which will be taken into consideration.

What is covered

You are able to choose from different levels of cover. The more comprehensive the cover the more expensive it will be. This will increase with additions such as dental care.

Location of your business

Getting treatment in certain locations can be more expensive, for example central London. This is something which will affect the price of your policy.

The excess

Employees usually pay an excess for any treatments they receive. The lower the excess they pay, the higher the premium you will pay as the employer.

Common Questions

Frequently Asked Questions

How many employees do you need?

You usually need more than two employees to take out group medical insurance, but you will most likely need small business specialist insurance for business smaller than 250 people.

If you are a limited company director you can take out business health insurance for yourself, however it is a taxable benefit-in-kind.

Is small business insurance cheaper than individual insurance?

Even smaller businesses will probably find it cheaper to have corporate health insurance than they will to have individual policies.

Contractor insurance is available for employees who work freelance, but these are specialist policies and are worth asking an insurance broker about. This is a case where it might be cheaper to have individual health insurance.