In the world of health insurance, small businesses have often felt overlooked due to the corporate-centric nature of the industry. Larger companies with bigger budgets and revenue streams tend to dominate the market, leaving small businesses wondering if they can have group health insurance coverage. However, there’s good news – the landscape is changing, and now even teams consisting of just a few people can access quality health insurance policies.
In this blog post, we will explore the available options for small businesses, highlight some top providers we work with, and present some more affordable alternatives to kickstart your employee health and well-being journey.
What can small businesses get from a company health insurance plan?
A group health insurance plan from most providers typically includes the following services:
- In-patient treatment: Covering treatments requiring an overnight stay.
- Out-patient treatment: Covering treatments that don’t require an overnight stay or a bed.
- Physiotherapy, osteopathy, chiropractic treatment: Therapies for musculoskeletal issues.
- Mental health support services: Assistance for mental health concerns.
- Access to specialist consultants: Accessing expert medical opinions.
- Diagnostic tests: Covering medical tests for diagnosis.
- 24/7 GP services: Round-the-clock access to a general practitioner.
- Digital health apps: Utilising mobile apps for health management.
- Further mental health cover: Additional mental health support.
- A range of private hospitals: Access to private healthcare facilities.
- Dental/Optical: Covering dental and optical care.
- Second medical opinion: Seeking a second expert medical opinion.
The cost of a health plan varies depending on the services included. You can explore different options offered by insurers and select the one that best fits your budget and needs.
Top providers that we work with offering dedicated small business health insurance policies:
- Bupa
- AXA Health
- Aviva
- Vitality
- Freedom Health Insurance
- Health Shield
- Allianz
- Cigna
- UNUM
- Canada Life
These providers offer tailored health insurance policies specifically designed for small businesses, which are great for smaller-sized teams.
Why health insurance is important for businesses with small sized teams
Health insurance is an invaluable asset for small businesses with only a few employees. It provides a safety net that promotes the well-being of both the company and its workforce. Offering health insurance demonstrates a commitment to the employees’ health, fostering a sense of loyalty and job satisfaction, which in turn can enhance productivity and reduce staff turnover.
By providing access to essential medical services, preventive care, and timely treatments, health insurance ensures that employees can address health issues before they become major concerns, ultimately leading to fewer sick days and increased overall work efficiency.
Furthermore, a comprehensive health insurance package can attract skilled and dedicated talent, helping the business remain competitive in the job market. Ultimately, investing in health insurance not only safeguards the health and financial stability of employees but also contributes to the long-term success and sustainability of the small business itself, safeguarding your productivity in the long term.
Looking for affordable health insurance alternatives for your team?
If health insurance is too costly for your business, don’t worry – there are other ways to support your team’s health and well-being which can be more affordable:
Group Income Protection: This plan goes beyond statutory sick pay, offering practical support to help employees return to work quickly.
Critical Illness Cover: Designed for staff facing critical illnesses, this policy provides financial support to cope with income loss. It often includes an EAP for emotional assistance.
Navigating the world of health insurance for small businesses
Navigating the world of health insurance can be daunting, especially for small businesses seeking the best coverage at an affordable cost. However, with the changing landscape and a range of alternatives available, there are now opportunities for small teams to access quality health insurance solutions that cater to their unique needs.
If you find yourself unsure about which health insurance plan or alternative is right for your business, then our team can provide expert guidance and support. Anderson Health, trusted health insurance brokers in London, are here to help you make the best decision for your team’s health and well-being.
With our in-depth knowledge of the industry, we can navigate the complexities of health insurance policies for you, finding tailored solutions that suit your budget and requirements. Our dedicated team will take the time to understand your business and provide straightforward answers to your questions, ensuring you receive the best possible value for your investment.
Don’t hesitate to contact us and take the first step towards securing the right health insurance coverage for your small business.
Anderson Health are independent Private Medical Insurance advisors based in the city of London with customers both in the UK and throughout the rest of the world.
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Call us at +44 (0)204 548 4670 or email.