Small business health insurance

Why does my business need a healthcare plan?

The health and wellbeing of your people has a price. Investors in People estimate the total annual cost of mental ill health to UK employers is somewhere around £26bn (roughly £1,035 per employee). Include the fallout from typical office-worker ailments, such as RSI, and it’s another £14bn.

Clearly there are quantifiable costs from reduced performance leading to reduced revenue, and it’s no surprise that recruitment and training aren’t cheap. But there’s a ‘reduced value’ factor here too – consider losing the knowledge and reliability of an experienced manager, and having to deal with the broken interpersonal networks and collaborative working gaps they leave behind too.

And, if you do need new recruits, attracting the best means benefits. Career-minded people like to know you’re as invested in them as they are in you, and what you offer matters. Given that private medical insurance usually comes out near the top in most ‘what employees want’ benefits surveys, you can’t afford to ignore it.

Who are these plans for?

Businesses with 2+ employees. You’re free to mix up the levels of cover according to your budget and you don’t have to cover everyone. Ages 16-69 cost the same and there are no medical questions to answer. Employees can pay a bit more to add family members or to get extra cover.

Is it the same as health insurance?

No, not really. It’s more than that. Health insurance pays the medical bills after the event but it doesn’t do anything to prevent the event happening in the first place.

There’s an element of health insurance in the plan, of course. AXA PPP healthcare covers physio, diagnosis and hospital treatment.

But there’s 24-hour GP access and prescription services from Medical Solutions, health checks from Thriva and stress support from Health Assured too.

These plans are about flexible, straightforward, comprehensive health and wellbeing support for all. They protect your people and your business in a way plain-old health insurance can’t.