There are many different options available for Business Health Insurance here in the UK. As a business owner, employee benefits for your staff can reduce absenteeism.
Business Health Insurance policies are available for 1 or more members. Commonly, policies are set up with 3 or more main members.
To be eligible for cover on a company scheme, you must be employed by the company. You can add employees dependents to your membership if you want to.
Employee membership status on a Business Health Insurance policy can be one of the following:
Employee’s can be added and removed from a Company health insurance policy at any time within the policy year.
When you add an employee mid-term you will be charged a pro-rata premium because you only pay for the time that staff member is on risk. If you remove a member mid-term, you will receive a pro-rata refund.
There are a number of Business Health Insurance options available to you.
You can choose from a number of products depending on your requirements and budget.
Once you have your policy is in place it will run for a 12 month period. About 4 weeks prior to your renewal you will receive notification of the renewal offer. As soon as you have this you should obtain a market review because this will ensure your policy is in line with the market.
There are new Business Health Insurance products developed frequently because of the ever changing technical advancement. Therefore, reviewing your policy will mean that you are aware of what new options are available.
When you buy a new Business Health Insurance policy, the premium will depend on a number of factors. Underwriters will price your policy based on the age profile of your members, the postcode of your business and the benefits and underwriting you have chosen whereas if you are renewing your policy they will include an element of claims related adjustment where applicable.
In order for you to obtain the best premiums for your company scheme, working with a specialist broker can help you understand the market and the benefits you have chosen, with this in mind SMP Healthcare can help you with your Business Health Insurance policy.
If you own a small business in the UK, have you thought about health insurance for your team? With the arrival of COVID-19 many people are struggling to access primary care via the NHS. Private medical insurance providers have developed and extended their plans so that members can speak to a qualified GP via telephone or mobile app.
To provide clarity for our private medical insurance clients around the coronavirus pandemic and how this will affect their cover whether as a business or personal policy, please read the information provided below. There are some important things to consider around COVID-19 and your health insurance
2020 has seen a really interesting first quarter for the team at SMP Healthcare. We have thrown ourselves head first into social media marketing, introducing video and audio to our audience. Now have the pleasure of adding General and Medical to our panel of insurance providers. Who are General & Medical? Established in the 1980’s, General & Medical are an independent medical insurance provider. They are focused on providing excellent healthcare solutions for all. Consistently looking to the future and concentrating on developing innovative products and services for businesses, families and individuals. General & Medical are the preferred provider for…
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If you have pre-existing conditions or have had medical treatment in the last 18 months then continuation terms may be your best option. This basically means that your insurer will move you to an individual or family policy without further underwriting.
It is very rare to change insurance provider mid-term through your policy year. Normal protocol would be to review the alternative insurers when you receive your renewal terms. There could be a better option with another health insurance provider. If there is, you can look to change insurance provider at your renewal date.
If you want to save money on your health insurance you need to check your cover details carefully. A good health insurance broker can help to make this easy for you. We spend time with our clients listening to what is important to them in terms of cover and benefits. We can then provide quotes based on their unique and specific needs. Nobody wants to pay more for a health insurance policy than they have to. Nobody wants to have cover for benefits that they will never use. Can you afford an excess? If you know you can afford to…
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With full medical underwriting you provide a full disclosure of your medical history and this form is sent to the insurers underwriting department for assessment. They will then show any exclusions for pre-existing conditions on your insurance certificate.
Purchasing company health insurance policy/ business private medical insurance can be a daunting prospect. Especially true if you don’t know the market. Knowing the mistakes to avoid can save you valuable time and money. There are many options when it comes to buying company private health insurance for your business. The trick is not to pay for benefits you know you won’t need. The duty of care you have for your staff is important. Buying the right company health insurance policy could ensure that you have this covered for a minimal outlay. Staff like to be valued, what better way…