What is Business Health Insurance?
Business health insurance is offered by employers to their employees. It is a much valued employee benefit funded by the company to help keep employees fit and well and help them get back to work quicker should they fall ill.
It is typically considered to be a great employee benefit. The plans provide employees with access to private GPs, physiotherapy, private specialist consultations, diagnosis and tests and treatment in a private hospital. There is also the option to upgrade to include stress support or dental and optical treatment.
Business health insurance comes with beneficial tax incentives for employers as it is seen as a benefit in kind to the employees.
TechRound has recently partnered with award-winning Equipsme, supported by AXA Health to offer plans starting from only £7 per person, per month. Businesses must have a minimum of two employees aged 16-69.
Who is Equipsme?
Equipsme is an award winning provider of health insurance plans who are backed by AXA Health so you can trust the quality cover. Equipsme is award-winning and was recognised by the Cover Excellence Awards in 2019 as the ‘Best New Product Winner’. The firm has multiple partnerships together with well-known brands including Enterprise Nation, Starling Bank and Simply Business.
Equipsme offers business health insurance plans starting at only £7 per person, per month, which hundreds of businesses have already signed up for.
How much does Business Health Insurance cost?
Business health insurance plans offered by Equipsme start at only £7 per employee, per month. And the most popular plan is only £30 per person per month and gives you access to a private GP, physio private diagnosis and treatment in one of AXA Health’s network of quality private hospitals. You can also choose to add on stress support or optical and dental.
All ages cost the same on the plan you choose so it’s easy to work out how much it costs your business. There are no medical questions on application and you can buy online today.
What is included in Business Health Insurance?
The £7 per employee per month plan includes:
- 24/7 GP Access
- Up to 5 physio sessions per month
- Access to a nurse helpline
- Online health questionnaire
- No excess
And don’t forget employees can choose to upgrade and pay for extra cover themselves or add family members.
The £30 per employee per month plan includes:
- 24/7 GP Access
- Up to 8 physio sessions per month
- Access to a nurse helpline
- Online health checks
- Private specialist diagnosis and tests
- Private hospital treatment
- £150 excess – once per year
What is the eligibility criteria?
The eligibility criteria for business health insurance includes:
- A minimum of 2 employees from the company
- Employees must be aged between 16 to 69
- Self-employed business owners must be aged between 16-59 (full details of plans can be found on the Equipsme website)
- UK-only (England, Scotland, Wales or N. Ireland)
- Pre-existing conditions in the last three years are excluded. Further details of the main benefits and exclusions that apply can be found on the Equipsme website
Why should you get Business Health Insurance?
Business health insurance allows businesses, both large and small, to provide their employees with access to private medical care to help keep them fit and well. Depending on business budgets with Equipsme you can buy your employees a benefits package starting from £7 pppm which allows employees to upgrade and add family at their own expense. Equipsme’s most popular plan is £30pppm and gives access to a private GP, physio, private diagnosis and treatment. You can also choose to add on stress support or optical and dental.
Benefits for employers
For businesses, it is an easy and accessible way to promote a healthy workforce, as well as help to reduce sick days and retain staff. The average worker in the UK takes 9 sick days per year, which in total costs UK business owners £29 billion per year. With these plans providing employees with the opportunity to skip waiting lists and access high-quality treatment, Equipsme’s business health insurance is definitely a great option.
A stronger and healthier workforce will allow for increased productivity within a business. Additionally, with waiting times for NHS services exceeding their previous averages, now is a prime time for employers to consider private healthcare for and on behalf of employees.
Benefits for employees
Business Health Insurance can often allow employees to be treated quicker in a private hospital than waiting on an NHS waiting list for treatment. It also proves to employees that their employer values and cares for their health.
All plans can be extended to family members (your partner/spouse, and children age under 25).
How can you apply for Business Health Insurance with Equipsme?
Those interested in a business health insurance plan can simply apply online once a quote has been obtained. The entire application for the plans takes place online and Equipsme can provide a simple quote in a matter of minutes. You only need to provide simple contact details and the number of employees that you are looking to cover and what plans you would like to choose for them.
Do you need a medical or questionnaire beforehand?
A medical or questionnaire on application is not necessary or required.
Useful information
Can families be covered?
Yes. Business health insurance benefits provided by Equipsme allows employees to cover a partner spouse and children aged under 25 for an additional cost. They do not have to be working within the business.
Is Business Health Insurance from Equipsme different to standard Health Cash Plans?
Standard health cash plans are typically designed for everyday healthcare expenses like optical and dental treatment and sometimes include health insurance benefits. Equipsme’s Business Health Insurance plans have been designed specifically for the self-employed and small, medium and large businesses. The plans include help with everyday healthcare expenses, practical wellbeing support through helplines, physio and health checks plus health insurance benefits for private diagnosis, consultations and treatment.
Do exclusions apply for pre-existing conditions?
Yes. With Equipsme plans there is a simple exclusion of pre-existing conditions in the three years before cover starts. Terms and conditions apply and you can obtain more details by going to the Equipsme website.
Business Health Insurance concerning tax credits and discounts
A great reason for business owners to opt for business health insurance is that it can allow for available tax breaks to be taken. In the UK, business health insurance for employees, as well as company cars and childcare, stands as an expense that is tax-deductible. As such, businesses can benefit their employees in a meaningful way that is tax efficient.
