How a private health insurance plan helps your business

A key reason why many businesses choose to protect their workforce with company medical insurance is because it can help minimise absence and maximise productivity. Fewer days get lost to sickness and healthier, happier employees are able to perform more effectively.

Thousands of businesses recognise company health insurance is a really cost effective way of adding value to a pay package, and showing staff that management care about their wellbeing; that in turn helps the recruitment and retention of your staff. Moreover, should an employee fall ill, the prompt and specialist care that a private health plan provides can help them quickly get back on their feet and back into work.

However, the diverse nature of businesses means that one size does not fit all. Whether you’re a sole trader, small business or international company, Towergate Health & Protection can help you design a group company health plan based on the specific needs of your business.

Our approach to business health insurance

We possess the award-winning experience, expertise, market knowledge and influence necessary to design, deliver and administrate the “best fit” private health insurance for companies.

We’ll help you navigate the numerous options on the market and marry them up to your company demographics, taking into account your available budget and aims. We’ll audit any existing provision you have and advise you of how to address any under-utilisation and unnecessary costs.

What to consider when choosing a group health insurance policy

Your first step is to determine what your aims are.

You may already have some form of corporate health insurance which you might want to enhance or replace. You might want to reward all or some of your staff, or offer different benefits dependent upon seniority or length of service.

You must also consider the various levels of protection on the market and the benefits they offer, from entry-level policies which cover the essentials – such as in-patient treatments – to more comprehensive schemes that include, for example, extensive specialist cancer care.

  • Do you have an issue with sickness, absenteeism and/or staff retention?
    Employee health insurance can reduce the number of staff days lost and help you retain employees.
  • Do any of your employees work abroad?
    If so you may wish to incorporate international business health insurance within a bespoke company scheme.
  • Do you want your staff to be able to choose where they are treated?
    Different company healthcare providers offer different lists of hospitals, clinics and specialists centres, so it’s important to check which best suits your needs.
  • Which policy benefits are most important to you and your staff?
    There are many options open to you including specialist cancer, cardiac, chiropractic, optical, psychiatric and physiotherapy treatments, as well as group dental insurance.
  • What’s your budget?
    Clearly there’s a strong correlation between the level of cover provided and its cost determine what you can afford and the return you might expect.
  • Are you looking to fully fund your company health insurance?
    If your employees are willing to contribute to your scheme, or to pay an excess, you can reduce your costs whilst still providing a valuable employee benefit.

Helping you find your business health insurance plan

Your dedicated Towergate Health & Protection business health insurance adviser will be pleased to help you identify key priorities, guide you to the best available solution and provide ongoing support, be that amending your future protection to meet the changing circumstances of your business, or helping should you need to claim on your policy.

Chase Templeton Limited is registered in England and Wales No. 3299980 – registered address: 5 Arkwright Court, Blackburn Interchange, Darwen, BB3 0FG. Towergate Underwriting Group Limited is registered in England and Wales No. 4043759 – registered address: Towergate House Eclipse Park Sittingbourne Road Maidstone Kent ME14 3EN.  VAT Registration No: 447284724.