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Guide to Setting up a company Health Insurance Scheme


Providing employee benefits and health insurance for your team can be a valuable addition to your employee benefits package. It can help you attract and retain talent and show that you value your employees' well-being.


Here's a guide to help you set up a health insurance plan for your employees:

  1. Determine your budget: Before choosing a plan, you need to determine how much you can afford to spend. Consider factors such as the number of employees you have and their average age, as this can affect the cost of premiums. Also, consider the level of coverage you want to provide.

  2. Choose the type of plan: There are two types of health insurance plans: group and individual. Group plans cover all employees of a company, while individual plans only cover an individual. Group plans are typically cheaper than individual plans because the risk is spread across a larger pool of people. Additionally, group plans offer greater flexibility in terms of coverage options and can be easier to administer.

  3. Consider other options for your team: Key man insurance, relevant life insurance, company income protection, and critical illness cover are all valuable components of an employee benefits package that provide financial protection for both the employer and the employee. Key man insurance helps companies protect themselves from financial loss due to the death or incapacity of a key employee, while relevant life insurance provides a tax-efficient way for employers to provide life cover for their employees. Company income protection can provide a source of income for employees who are unable to work due to illness or injury, while critical illness cover can provide a lump sum payment to help employees cover the costs associated with a serious illness. Overall, these insurance policies can help employees feel more secure and valued, while also providing valuable protection for employers in the event of unexpected events.

  4. Research insurance providers: There are several health insurance providers in the UK, so it's important to research and compare their plans. Look for providers that offer plans that meet your budget and coverage requirements. It's also important to read reviews from other customers to ensure the provider has a good reputation.

  5. Choose the coverage options: Once you've chosen an insurance provider, you need to choose the coverage or benefit options you want to offer your employees. Basic coverage usually includes hospital stays, surgeries, and consultations with specialists. You can also opt for additional coverage, such as dental, optical, and mental health care.

  6. Communicate with your employees: Once you've chosen a plan, communicate with your employees about the coverage options available to them. Make sure they understand the benefits of the plan and how to use it. It's also important to explain the cost-sharing arrangements and any excess or co-payments they may be responsible for.

  7. Enroll your employees: Once you've communicated the plan to your employees, it's time to enroll them. This can be done through the insurance provider or through an online platform. Make sure to provide your employees with any necessary enrollment forms and deadlines.  We also require a fact find to be completed for each employee so that they can be added to the scheme in a compliant manner.

  8. Monitor and review the plan: Once the plan is in place, it's important to monitor it and review it regularly. This can help you identify any areas where improvements can be made and ensure that your employees are satisfied with the coverage they're receiving.

In summary, providing health insurance for your employees in the UK can be a valuable addition to your employee benefits package. By determining your budget, choosing the right plan, researching providers, choosing coverage options, communicating with your employees, enrolling them, and monitoring and reviewing the plan, you can ensure that your employees receive the best possible care while keeping costs under control.

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