What is group health insurance?

As a small business owner you know that running a business can be stressful at the best of times, but long term staff sickness can really slow things down making the situation even more stressful.

Group health insurance enables you to make sure that your staff members have quality health cover to speed and aid their recovery should they fall ill. You and your staff can enjoy increased peace of mind with this cover, and your employees will enjoy quality care when they need it most – helping your business stay on track. This benefits both the individual and others, and offers peace of mind all round.

Some advantages of group health insurance are:

• it is less expensive than taking individual policies
• the premium cost will be the same for each individual in the group regardless of their age, fitness and other factors. This is unlike individual insurance where a premium cost can be quite high if the person is not in a fit condition

Group health insurance is ideal for any company that wants to provide health insurance to their employees. Most employees look to health insurance as one of the deciding factors as to what companies they want to work for.

As a small business owner, a group health insurance plan will help your company attract and maintain the best workers. Many companies consider a group health insurance policy key to employee satisfaction.

What do I need to look out for when considering group health insurance?

The features provided with group health insurance can vary depending on your level of cover and also on the insurance company that you select.

Most policies provide fast treatment to each member of the group as well as covering them for income after a specified period. There can be a number of exclusions with this type of cover, which you should familiarise yourself with. This can include pre-existing conditions that you had prior to taking out the policy, chronic/permanent conditions, cosmetic treatments, and routine dental work.

Due to the large difference in both premiums and quality of cover, independent financial advice is essential.

Any questions on group health insurance?

Please call us on 01582 839280 if you have any questions or Email us.