Small business employee health insurance is very effective for every business. This insurance plan is designed to cover the medical expenses of the employees of small businesses.
Moreover, these insurance policies offer great support to the employees when they require it the most.
Small business employee health insurance is essential for business owners who may not afford the longtime absence of any worker in the company.
From cancer coverage to mental health support, these employee health insurance plans cover a wide array of illnesses.
So, these plans take care of the employee’s peace of mind, so your business will run smoothly.
So, if you are a small business owner in the UK interested in employee health insurance plans, you are on the right page.
Here, in this article, I will wrap together what is small business employee health insurance, how small business employee health insurance supports your employees’ health, what small business health insurance covers, and the 8 best small business employee health insurance in the UK.
Let’s dive into the deep!
What is a Small Business Employee Health Insurance?
Small business health insurance is a type of insurance policy that you may consider purchasing to look after the health and well-being of your employees.
Various health insurance providers offer different types of illness coverage. There are a range of coverage options available in the market.
You can purchase small business employee health insurance policies to offer the owners and the staff access to private healthcare.
These types of insurance policies are usually taken up by small business owners with less than 100 employees.
Also, larger to medium-sized companies can hold health insurance policies based on the provider’s pricing and administrative terms.
Small business health insurance can offer multiple benefits to businesses and their employees.
How Does Small Business Employee Health Insurance Support Your Employees’ Health?
Small business group health insurance provides access to private healthcare. So, a large number of employees get covered by small business health insurance.
Policy. If something goes wrong, the employees will get instant treatment at the private healthcare centre, so they will recover more quickly from an illness or injury.
A small business health insurance also offers a group of employees cutting-edge treatments and medicines that are not available through the NHS.
Private medical insurance also provides other facilities to your employees. Your employees can schedule appointments, so they can improve their health and well-being without spending money.
These may include 24/7 virtual GP appointments, membership rewards, health screenings, and discounts.
What Small Business Health Insurance Covers?
Different health insurance providers offer different ranges of coverage. The coverage of your employee health insurance will depend on your chosen insurance provider.
most providers offer basic healthcare treatments and most of them offer some optional extras. So, you can tailor your policy according to your needs and circumstances.
Here are some coverages that you may expect with most small business healthcare policies:
Basic Coverage
1. In-patient and Day-patient care
In-patient and day-patient care refers to spending time in a hospital bed. In-patient care includes an overnight stay in a hospital bed, while day-patient care includes allowing the patient to go home for overnight sleep.
The treatments may involve surgeries, and cancer treatments which include chemotherapy that needs monitoring for several hours.
in-patient care will pay for your employees’ accommodation costs in a private hospital, and all the treatment expenses such as anaesthetist fees, nursing care, consultant’s fees, and medication.
2. Mental Health Support
Most small business health insurance covers basic mental health coverage. It includes coverage during counselling sessions and self-help resources.
Private health insurance may cover eight counselling sessions.
Various healthcare insurance providers also offer access to self-help resources, which involves accessing online articles, and self-help tools.
So, the employees can manage their mental health and well-being effectively.
3. Cancer Treatment
Most small business health insurance covers chemotherapy, radiotherapy, surgery, and more. Some health insurance also covers advanced therapies such as stem cell transplants.
Some small business health insurance covers basic cancer treatments and also offers the option to enhance the coverage.
4. Some Out Patient Coverage
Previously, outpatient coverage was only available as extra healthcare coverage.
However, nowadays, some health insurance providers include some outpatient coverage as basic healthcare coverage. But, the range varies depending on the provider.
Some health insurance providers include outpatient diagnosis while others include outpatient cataract surgery. Your employees will be able to access eight to ten physiotherapy sessions without a reference.
Optional Extras
Optional extra allows you to tailor your group health insurance policy to suit your business needs and workforce.
Different insurers offer different optional extras, but some of the most common optional healthcare coverages include:
- Outpatient coverage
- Enhanced mental health coverage
- Optical and dental coverage
- extended hospital list
- Employee assistant program
8 Best Employee Health Insurance For Small Businesses in the UK
1. AXA
AXA is one of the world’s largest insurance providers. It has provided private healthcare coverage in the UK since 1940. AXA is a multinational company based in France with global access.
AXA’s small business health insurance covers employees between 1 to 249. It provides standard health insurance coverage as well as extra optional coverage.
Key features:
- Health insurance with good core coverage
- it offers some optional extra coverage, so you can tailor your plan to suit your workforce
- Access to a 24/7 online GP
- Cost-effective and cash-back plans
- cancer care and heart treatments
- Physiotherapy consultants
- Fast-track services
2. Aviva
Aviva is one of the renowned health insurance providers with headquarters in the United Kingdom.
It offers a wide range of healthcare support options to choose from. It offers standard health healthcare coverage including outpatient coverage.
Aviva’s employee health insurance policies are designed to suit different-sized businesses. So, you can tailor your plan to access excellent coverage and the right services that your business needs.
Key features:
- Standard core coverage including outpatient treatment as core coverage.
- Enhanced cancer cover
- Mental health coverage
- A range of optional extras, so you can tailor the plan to suit your workforce’s
- Well-being support services including accessing online GP appointments,
- Available in apps so your employees can set appointments and achieve their health goals.
3. Vitality
Vitality is another renowned London-based health insurance provider that you may consider for group health insurance.
It offers a range of services and coverages to the insurers.
Most insurance providers provide additional services and benefits to their insurers, but Vitality comes with a Vitality program.
This allows your employees to access rewards for activity. These rewards include a free coffee to an Apple Watch.
Vitality offers their small business employee health insurance policy to businesses with 1 to 249 employees.
Vitality promises to pay all your employees’ treatment costs, which is rare among all the private health insurance providers.
Key features:
- Fast access to treatment for you and your employees
- Coverage for primary care
- The standard coverage includes diagnostic tests, cancer coverage, and mental health cover
- Promise to pay all the treatment costs for you and your staff
- Discounts and rewards to encourage your employees to have a healthy lifestyle
- Digital tools to book online GP appointments
4. Bupa
Bupa is one of the best small business health insurance providers in the UK. bupa’s small business health insurance coverage offers four tiers, so you can choose the one that suits your business the most.
Bupa’s health insurance includes coverage for getting treatment in their hospitals. Coverage includes mental health treatments, musculoskeletal conditions, cancer care, and outpatient care as standard.
Moreover, there is no age limit for health insurance coverage. Plans are available for small businesses with a maximum of 250 employees.
Key features:
- Faster diagnosis
- here, you can have a choice of up to 600 treatment location
- Quicker access to private healthcare
- 24/7 access to online GP appointments
- Option to add your family members to the policies
- Extensive mental health cover options
5. Freedom Health Insurance
Freedom Health Insurance is another best health insurance for small businesses. This is a UK-based health insurance provider and offers a wide range of health coverages to the employees of a company.
There are plenty of underwriting options provided by the company to be added to the insurance policy. So, you can tailor your plan according to your organization’s needs and workforce.
Freedom Health Insurance allows you to choose the basic healthcare coverage plan with all the essential benefits. otherwise, you can build a comprehensive package with an array of optional features for small business employees.
Key features:
- Offers accommodation in private hospital rooms
- Outpatient treatment including diagnostic tests, physiotherapy, and more
- An extensive range of options for private hospitals and consultants
- comprehensive cancer cover
6. Equipsme
Equipment offers business employee health insurance plans in the UK. The company was launched in 2018 with a mission to make health insurance simple, accessible, and affordable.
Now, they provide health insurance to all-sized businesses. The cost of the plan is the same for all, so it will be easier to calculate how much holding health insurance will cost for your team.
They offer a basic health insurance plan with a range of extra options to choose from. So, you can tailor your plan according to your business’s needs and workforce’s needs.
Key features:
- All ages from 16 to 69 will cost the same for the same health insurance plan
- 24/7 online virtual GP access
- No medical questions on the application
- Employees can upgrade their health insurance plan and add their family members
7. Cigna
Cigna offers a range of health insurance to small businesses. it also offers dental insurance plans. There are standard healthcare coverages and also some extra options to choose from.
So, you can tailor your team’s healthcare coverage according to your business’s needs and budget. It offers health insurance coverage to businesses having 2 to 99 employees.
Also, there are plans for organizations having more than 100 employees.
Key features:
- Cancer cover options
- Mental health cover
- Dental insurance plans at a discount
- Offers preventative tests and screenings
8. WPA
WPA offers a comprehensive range of healthcare insurance for small and medium-sized businesses. It provides a range of plan options, so you can choose the right plan based on your workforce’s needs and budget.
It provides group health insurance plans to businesses with 2 or more employees. If you are a start-up, taking out employee health insurance for the first time, you can hold health insurance plans from WPA.
It provides standard healthcare coverage with a range of extra options to pick. Also, it provides rewards and discounts so that employees can motivated to lead a healthy lifestyle.
Key features:
- Unlimited choice of hospitals, healthcare professionals, and consultants
- Optional additional benefits include optical and dental
- Comprehensive insurance package including day-patient, and out-patient treatment
- Counselling options
FAQ
How much does a small business cost for employee health insurance?
Ans: The cost of employee health insurance for small businesses can vary significantly depending on a few factors. These include the number of employees, the age, and location of your employees.
standard health insurance with a high excess may cost as little as 25 Pounds per month per employee.
A medium-level policy may cost around 60 Pounds. A comprehensive health insurance policy may cost as above as 90 Pounds per month per employee.
How many employees do I require to qualify for group health insurance?
Ans: Generally, you need three employees to set up group health insurance for your business. If you have fewer than three employees, then it will be better to go forward with individual policies.
What is not covered by a small business employee health insurance policy?
Ans: Every employee’s health insurance policy has an exclusion. Some insurance policies are dependable on the insurance provider whereas some policies depend on an employee’s past medical history.
Some general exclusions of employee health insurance policy include:
- Diabetes
- High blood pressure
- Angina
- Allergies and food intolerance
- Life events such as pregnancy, menopause, and ageing
- pre-existing health conditions of employees
Conclusion
Small business employee health insurance policies let your employees access high-quality private medical treatment. The coverage of the policy will vary depending on your chosen insurance provider. However, most policies come with core coverages including some optional extras.
Here, in this guide, I have put together every aspect of small business employee health insurance including 10 best group health insurance options.
So, you can pick the right one that suits perfectly with your business needs and budget. The small business employee health insurance will cover you, and your entire team as long as you keep paying the monthly or annual premiums to the providers.
