Small Business Health Insurance
Small business or SME health insurance provides private medical cover to businesses with between 2 and 100 employees. The level of cover a business offer can be tailored and can be as comprehensive as providing, private GP services, dental and mental health support.
What is small business health insurance?
Small business health insurance offers private healthcare to your employees for teams between 2 and 100 employees. If your team has less than 100 employees, small business health insurances can cover the cost of private healthcare and medical treatment, from diagnosis to treatment. There are different levels of cover, so you can find the cover that’s right for you.
In addition, it covers any costs incurred by an employee who needs acute medical care outside their normal working hours or during annual leave. It can also include dental and optical treatments as well as prescriptions.
The benefits offered depend on which level of policy you choose. The most basic option will only offer cover for in and day patient care.
What are the benefits of small business health insurance?
Private healthcare cover can have a number of benefits for small businesses. Your team is your business, ensuring your employees have fast access to medical care when required can have a real impact on them and on your business. Everyone benefits from taking small business health insurance:
- Private health insurance plans can help with employee retention and recruitment: your employees see you care about their health and the wellbeing of the team.
- It can make the workplace more productive.
- It can increase productivity within the team.
- The mental health and physical well-being of employees is taken care of.
- Your team has extensive mental health cover.
- Unlimited access to GP consultations
Your employees will get fast access to private healthcare and potentially bypass long NHS waiting lists when they need it the most.
What are the benefits of small business health insurance?
Private healthcare cover can have a number of benefits for small businesses. Your team is your business, ensuring your employees have fast access to medical care when required can have a real impact on them and on your business. Everyone benefits from taking small business health insurance:
- Private health insurance plans can help with employee retention and recruitment: your employees see you care about their health and the wellbeing of the team.
- It can make the workplace more productive.
- It can increase productivity within the team.
- The mental health and physical well-being of employees is taken care of.
- Your team has extensive mental health cover.
- Unlimited access to GP consultations
Your employees will get fast access to private healthcare and potentially bypass long NHS waiting lists when they need it the most.
Benefits of using Healthcare Clarity
We are the only broker to offer a free claims support service
On average we save our clients 32%* when switching health insurers
We compare the top health insurers, including AXA Health, Bupa and Vitality
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What does a small business health insurance plan cover?
- Quick and unlimited access to a fast diagnosis
- Mental Health care
- Cover for physiotherapy and osteopathy
- Leading cancer cover
- Avoid waits under the NHS for treatment of acute conditions
- Employees rewards and benefits programmes for those engaging in a healthy lifestyle.
How much does a small business health insurance policy cost?
Business private healthcare cover can cost as much as £1,000 per employee per year. There are a number of factors that affect the cost of premiums.
- Group size – The more people you cover, the lower the price per employee. There are policies for businesses with fewer than 250 employees, but the cost is usually higher for small businesses.
- Average age – Younger employees are cheaper to cover. The premiums will be based on the average age of the people in the policy.
- Level of cover – There are different levels of cover to choose from. The more comprehensive the cover, the more it will cost.
- Your location – The price of your policy will be affected by where you are located.
- The excess – Employees will usually pay an excess for treatment. The premiums are higher if the excess is lower.
Understanding the cost of health insurance companies
The price of small business health insurance is similar to that of a personal policy in the sense that it reflects the conditions of those being covered, the level of protection opted for and how many staff members are within your business. The options available to reduce your premiums can be explored, but here are factors and conditions that will affect the price of your small business health insurance policy.
- Age of policyholders
- Location
- Level of cover
- Lists of private hospitals and medical facilities
- Number of named employees
- Underwriting
- Claims history
- Outpatient cover
- Pre-existing conditions and chronic conditions
- Mental health conditions
What happens if an employee leaves the company?
Your employee can choose to continue their coverage under their personal medical insurance policy with the same benefits and features after they leave. We can offer to help any past employees find a new small business health insurance policy that works for them.
Which is the best health insurer for SME's?
We examine all plans available to businesses here in the UK, and advise you on how different providers would benefit your company. With our knowledge and experience, you can be confident that your organisation is getting the best private health insurance for your budget.
Here the list of healthcare providers we work with and recommend:
