For any company, their employees may be amongst their most important assets.

With budgets based on the assumption that people are at work and doing what they are being paid to do, having to pay staff who are off sick, whether on full pay or at statutory levels and possibly cover the cost bringing someone in to cover their job as well, may be something that companies cannot afford to do even in the short term;

  • getting employees healthy and back to work as quickly as possible may be in everyone’s best interests;
  • health insurance is not designed to replace the  National Health Service. Rather it can offer an alternative to some treatments where there are significant waiting lists within the NHS;
  • by providing access to private treatment, a company medical insurance scheme for employees may help ensure that curable short term illnesses can be treated as quickly as possible;
  • having access to private facilities also provides employees with more of a choice regarding the hospital or clinic where their treatment is carried out, which can make family visiting all that more convenient at a time which may be stressful for everyone concerned;
  • offering company health insurance as part of a remuneration package may not just help reduce your costs and cut down on absenteeism;
  • you may also find that it can attract quality applicants to your company and may also be regarded as a sign of an employer who has the interests of their employees at heart. It may therefore also have a positive effect on overall staff morale;
  • while there are a number of options available when it comes to setting up a scheme, it may not be as complicated as it first may appear;
  • the first and key decision that has to be made is how much a company wishes to spend on health insurance;
  • other considerations may include the level or levels of cover to be provided – there are schemes where it is perfectly possible for different groups of employees to have different levels of benefit;
  • for larger companies of more than 20 employees, it may be possible to set up schemes where pre-existing conditions may also be included under the cover offered ;
  • there may then be various options regarding the types of treatment available – in-patient, out-patient, alternative therapies like acupuncture, physiotherapy and homeopathy, psychiatric, dental and optical services etc;
  • health schemes of this nature may also help to encourage employees to adopt healthier life styles  and you may also find that some schemes may be targeted specifically towards an older and more mature work force;
  • as with so many areas of life and business, the bigger your budget, the more extensive the facilities on offer  from the various schemes may be.

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