What does business health insurance do?

18 Jun

It doesn’t matter where you are, business health insurance can be a great way to protect your employees, boost morale in the office, and give them the peace of mind they deserve. In a world where employee rights are becoming more and more prominent, you need to show you care.

No one likes the stress of wondering what happens if they get sick, and a business health insurance plan takes that fear away. If you’re wondering more about what they do and why they are beneficial to the workplace, this is exactly where you need to be.

What is Business Health Insurance? 

Business health insurance is private medical insurance for you and your employees. It means that if you, or they, get sick or injured they will be covered by private medical care by the insurance company and only have to pay a small excess towards the total amount.

It should be noted that it is not a legal requirement to have business health insurance, but it is exceptionally practical and one of the most sought after benefits in the workplace.

Do You Need Business Health Insurance? 

No one is forcing you to get business health insurance, but it’s absolutely worth getting. For starters, you attract good staff that want to stick around, which means you get to build a work community that you actually enjoy being around and that want to be at work.

It saves time because your employees will be seen, diagnosed, and treated as quickly as possible. There is no need for waiting, no lists to be seen, they have nothing to worry about and can have the results quickly for their peace of mind.

Once everything is done, you will find they are able to get back to work sooner as well. This is because their recovery times tend to be faster, which saves you money as an employer and means that your employees are less stressed about being away on sick leave.

What Does Business Health Insurance Cover? 

Here are some of the most common features that business insurance covers:

  • 24/7 GP service
  • Tests
  • Scans
  • Specialist consultations to help diagnose conditions (including cancer)
  • Diagnostic surgery
  • Private hospital and practitioner fees
  • Nursing care
  • Mental health support
  • Therapy services
  • Physiotherapy
  • Gym memberships
  • Dental coverage
  • Optician coverage
  • Lump-sum payments when unable to work
  • Family coverage

These are just some of the reasons why business health insurance works, and you can see that it clearly does a lot for those who are covered. Through this, your employees can rest easy knowing that they are taken care of – their family as well in some cases.

To Conclude 

As you can see, there is nothing but advantages to having a business health insurance plan. It’s a good step forward for your business, and will lead to you building a work community where people feel more connected rather than like cogs in the machine. It’s not just about making your employees happy, it’s about making them feel safe and protected should the worst happen.

 

Three reasons to protect your employees with benefits

30 Jun

Employee Benefits are becoming more and more popular across workforces who are looking to bring on the best talent in the market, keep hold of their most valuable assets (employees) and keep up with the rest of the market.

Charlie Cousins the Director of Hooray Health & Protection who specialise in employee benefit insurances for SME’s tells us “ We deal with a number of companies who provide employee benefits for their staff but it’s never a one size fits all approach. Each company is unique and will have different requirements which will vary depending on your business and its staff. Speak to your staff first and find out what they want from their employee benefits packages”

We have put together three of the main reason companies provide employee benefits for their staff and what benefit it has to your company

Attract the best talent

The job market is set for a change and we are looking to have a record four million unemployed in the UK by the end of 2020.

When interviewing new staff, you want to ensure you have the best benefits package in place to entice the best talent in the market

Retain your star workers

When you build your team and train them to be the best, they can be it is devastating to lose someone, and your best staff will always have the competition attempting to poach them.

Offering them benefits which they potentially would not be able to take out without group benefits (health or life insurance) will build trust and help you retain the best talent.

Improve Productivity

If you consider that happy employees are up to 20% more productive as a business owner it would be ridiculous to not do everything you can to keep your employees happy and wanting to come into work for you.

Offering employee benefits shows them that you not only care about them and their family but you are actively promoting wellbeing in work via the number of employee benefits on offer.