What is Group Health Insurance?

Group Health Insurance is a type of private health insurance plan which is purchased by businesses for their employees. One policy can cover multiple staff members and ensure they get fast access to a wide range of medical services and treatments. 

Plans typically offer a choice of consultant, hospital and date of treatment, giving employees full control and ensuring they can return to work as soon as possible.

For many of our clients, one of the key benefits of private healthcare is that it negates hospital waiting lists and is free of the inevitable restrictions that a publicly funded healthcare system encounters.  

Group Health Insurance is also sometimes referred to as: Business Health Insurance, Company Health Insurance or Corporate Health Insurance.

The scope and value of Group Health Insurance plans can vary wildly, depending on the size of the business and its available budget.

We’ve helped businesses of all sizes find their ideal policy by working across the insurance marketplace to deliver the best deals.

What does Group Health Insurance cover?

Companies can largely pick and choose which benefits they feel will be of the highest importance and of greatest value. So – to an extent – your Group Health Insurance can cover whatever you wish, as long as it remains within budget.

But there are some constraints. First you need to be aware of two main medical categories: ‘Acute’ and ‘Chronic’ medical conditions.

Acute

A medical condition that responds well to active treatment and where the patient can be returned quickly to their previous state of health/degree of activity. For example, a fractured arm, a hernia or cataracts are classed as acute conditions.

Acute conditions CAN be covered by medical insurance.

Chronic

A condition which cannot be cured and does not improve through active treatment. Chronic conditions can typically only be “maintained” or “managed”. A good example is asthma or Type 1 diabetes.

Chronic conditions CANNOT be covered by medical insurance.

Remember, it’s not the severity of the condition that matters most, it’s the prospect for recovery. Sometimes the line between acute and chronic conditions can be blurred, so we’re always on-hand to answer specific questions from our clients in relation to a claim.

Group Health plans typically cover:

• Consultations with a specialist (subject to insurer fee guidelines)
• Diagnostic tests (such as blood tests, x-rays and scans)
• Operations and surgical procedures
• Hospital stays and nursing care
• Cancer treatment, such as radiotherapy and chemotherapy
• Medications, some of which may not be available on the NHS
• Physiotherapy, osteopathy, chiropractic treatment
• Mental health and psychiatric treatment

Inpatient, day-patient or outpatient?

You’ll often see references to ‘inpatient’, ‘day-patient’ and ‘outpatient’ care within the terms of a policy. For example, an insurance company might stipulate an exclusion for inpatient care so it’s well worth knowing what these terms mean.

• Inpatient is where a patient is admitted to hospital overnight and occupies a bed. I.e. the patient is IN the hospital overnight.
• Day patient is where a patient is admitted to hospital and occupies a bed, but does not remain overnight.
• Outpatient is where a patient is not admitted to hospital nor occupies a bed (a scan, for example). I.e. the patient is OUT promptly.

All three scenarios CAN be covered by a Group Health policy.

Additional healthcare benefits

Group Health Plans often include additional health perks which can raise the value – and usefulness – of a scheme. Such added extras can include:

• Virtual GP/ Telemedicine
• Private Prescriptions
• GP and nurse helpline
• Cash Benefit
• Employee Assistance Programmes
• Second Opinion Service
• Health Screening
• Gym discounts
• Dental cover
• Optical cover
• Travel cover
• Retail discount

With such a wide array of core benefits and added extras, Business Health Insurance schemes can be carefully tailored to the needs of any business.

That’s why we make it our job to get acquainted with your business and its needs before advising on the best course of action. After all, a Group Health Insurance package which worked perfectly for one client, is unlikely to be a perfect fit for you. Industry, sector, demographics, company size and budgetary constraints are all important factors in uncovering the right deal.

For small  businesses group health insurance can start with as few as 5 employees and there are a choice of plans available to suit most requirements and budget. The basic plan is in-patient only for hospitalisation with optional coverage for out-patient, dental and even maternity in some cases.

For larger groups, typically with 50 or more employees, there is a lot more flexibility to build an employee benefits programme specifically to meet the objectives set by the company. Also, for larger groups, switching to a different insurer is a lot easier as members can be transferred on no worse terms or have their medical history disregarded.  However, an Employee Benefits programme can be a costly undertaking for an employer if the plan is designed and implemented without proper planning.

Why buy Group Health Insurance?

Both the company and its employees stand to benefit.

Employer:

• Cost effective vs retail plan: Group Health Insurance for employees is cheaper per person than buying individual policies
• Great way to engage staff: Your team will feel valued by a scheme which protects their health and wellbeing. Indeed, they may also be given the tools to improve their wellbeing.
• Improve morale and productivity: The knowledge that an employer is offering beyond statutory requirements, really can boost the mindset of individual employees. 
• Great retention tool: Staff who feel looked after in a meaningful way are less likely to leave. Especially if rival employers do not offer the same level of benefit.
• Reduce sickness absence: Health issues are quickly addressed and, potentially, even avoided.
• Ensure fast treatment and return to work: Particularly, if an operation is required. For example, a hernia operation typically has a lengthy waiting time.
• Classed as a business expense: So it’s a tax efficient way of looking after your staff. 

Employee:

• Access to otherwise unaffordable benefits
• Fast diagnosis & treatment for medical issues
• Opportunity to add family members
• Treatment in private en-suite rooms
• Choice of consultant
• Choice of hospital
• Choice of treatment date

We have many years’ experience that specialise in putting together effective employee benefits plans. To find out how we can help you, please complete the brief questionnaire below and we shall get back to you promptly. Or just email us.

How much does Group Health Insurance cost?

The following factors influence the cost of Group Health Insurance:

• Age: the average age of those employees included in the scheme & ratio of young to old.
• Location: where the company is based geographically
• Benefits selected: the benefits to be included in the scheme
• Claims: previous claim history (if you have one) from previous insurer
• Insurer: each insurer will offer different price points, which partly depends on their existing financial performance, but also inclusions/exclusions offered
• Underwriting: which underwriting method is chosen upon application
• Number of employees included: the more people included in a scheme, the lower the premium per person.

We have many years’ experience that specialise in putting together effective employee benefits plans. To find out how we can help you, please complete the brief questionnaire below and we shall get back to you promptly. Or just email us.