Group Private Medical Insurance
Group medical insurance is designed to support employees who need medical attention. This can be financial support or to ensure they have access to the best care as soon as possible. Many plans include support and advice to help keep employees healthy which can reduce sickness absence.
Offering medical insurance can be very appealing to both existing and prospective employees and can help to attract and retain staff.
Many policies can provide the option for employees to add their family members at their own expense or as part of the employee benefit package. This can also be seen as a real benefit.
We are able to source the best solution for the needs of your business. We are able to search the UK market on your behalf and recommend the most suitable provider.
Factors which will influence the cost of your scheme include:
There are optional benefits available.
You can further alter your policy by including an excess or waiting period if you were looking to bring down the cost. There any many options available allowing you to enhance your benefits package to suit your employees’ and company’s needs and your budget.
Offering medical insurance can be very appealing to both existing and prospective employees and can help to attract and retain staff.
Many policies can provide the option for employees to add their family members at their own expense or as part of the employee benefit package. This can also be seen as a real benefit.
We are able to source the best solution for the needs of your business. We are able to search the UK market on your behalf and recommend the most suitable provider.
Factors which will influence the cost of your scheme include:
- Age of employees. There are a number of personal factors that affect the cost of group medical insurance. Unsurprisingly the age of your employees plays a significant role. The older your employees the more likely they are to become ill and subsequently present a greater risk to the insurer.
- Level of cover. The level of cover you provide to employees and the number of employees you include will contribute to the cost of cover. Providing the most basic cover will naturally be the cheapest option available.
- Location. Some areas have a higher claims ratio than others which will be taken into account when the insurer assess the risk a new client poses. Some areas have higher hospital costs.
- The cost of this policy can be outweighed by the reduction in time key employees take off sick due to illness or injury as a result of receiving preferential medical treatment.
There are optional benefits available.
- Dental care
- Eye care
- Private medical expenses
- Prescription expenses
- Psychiatric treatment
- Hospital stays
You can further alter your policy by including an excess or waiting period if you were looking to bring down the cost. There any many options available allowing you to enhance your benefits package to suit your employees’ and company’s needs and your budget.