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If you have a small workforce and one of your key team members is signed off for even a short period of time, it can seriously affect the performance of the business. Business health insurance helps get your team better quicker, reducing disruption and keeping the business on track.
While it may be common for large employers to offer private medical insurance to staff, it isn’t widespread amongst smaller businesses. That means there is an opportunity to stand out from the crowd, demonstrate your commitment to your people and hopefully attract the brightest talent.
Stress in some form is inevitable today, and it’s likely members of your team will suffer from stress or other mental health issues at some point. Many small business health insurance policies include mental health support as standard and others give you the ability to add it as an optional extra.
The cost of cover will vary depending on a range of factors, but we want to give you an example so you can get a ballpark idea of costs. Assuming there is £1,500 outpatient cap, a £100 excess on the policy and a mid-tier hospital list, you could expect to pay around £60 per employee-per-month for a 10 employee company and around £40 per employee-per-month for a 50 employee company. As we say, there are many variables which will affect this price so please take it as just an example and speak to us to get your own quotes.
These are the most common exclusions but you should always check your policy documentation to find out exactly what your insurer will cover you for.