Health Insurance
In the United Kingdom the National Health Service (NHS) provides public health care to all workers and residents. While the public health care scheme is one of the best in the world, there is a growing trend towards private health care insurance, often offered by or partially sponsored by employers. While it is not compulsory for businesses to offer their employees private health insurance, some industries that hire specialists or which require a high level of expertise from their staff may use the offer of private health cover as a bonus to gain and keep qualified staff. The level of private health cover offered to employees can range from basic medical expenses to full cover for the staff-member and their entire family. The decision is ultimately up to the business owner.
Self-Employed Cover
Most private health insurers offer three basic packages for businesses wanting to provide health cover for their employees. The most basic is the self-employed package, of use to individual trades-people and contractors or owner-operator business owners. Some insurers will allow for the self-employed package to be extended to include the employee's family, though this is not always the case so make sure you check prior to purchasing.
Small Business Health Insurance
The second package available is small business health insurance. Designed for small and medium businesses, itoffers cover for named individuals (and often their families). The policy is taken out in the business' name, and does not have to be given to every single employee - it can be designated at the discretion of the small business owner. The small business health insurance premium will be calculated on the health, age and in some cases job of each named individual on the policy, and will also be affected by the level of cover offered. Aside from the basic medical cover it is possible to pay for additional services such as dental and optical care, alternative therapies and even gym and health-club memberships.
Corporate Health Insurance
The largest health insurance policy available in a commercial sense is corporate health insurance, and it is intended for businesses that have at least fifty employees. As with small and medium business cover, corporate health insurance packages will be calculated on the individuals included on the policy and the services offered.
Health Insurance Broker
If your business is large or has a continually changing number and range of employees, it may be a good idea to invest in the services of a specialized health insurance broker. A health insurance broker can calculate, negotiate and instigate the best possible policy for your business' unique requirements and can often find ways to cut costs without sacrificing on the quality of cover.