Free Review of Company Health Insurance

Corporate health insurance (also called company health insurance or employer health insurance) is a form of private medical insurance that covers some or all employees in a company. Lots of companies offer medical insurance to their employees as a benefit, and research indicates that employees value their health insurance almost as much as their pension.

Every year, corporate private health insurance premiums go up as the policyholders get older or as claims are made. The policyholder may be able to encourage the existing insurer to reduce premiums by finding a competitive quote elsewhere. Alternatively, a more competitive quote may encourage the policyholder to switch terms once their policy is up for review to take advantage of cheaper premiums with no loss in the cover.

While car insurance is reviewed annually and the most competitive provider is chosen, very few specialist companies carry out corporate private health insurance reviews. In many cases, company private health insurance is never reviewed, and many businesses do not switch providers for more attractive premiums. This is largely due to an apprehension regarding switching health insurance policies, particularly if there is a claims history. However, switch terms can mean that all claims and pre-existing illnesses, not to mention claims in progress, are covered by the new insurance company.

Appointing a specialist health insurance broker at no charge provides businesses with an automatic quote upon renewal, with a guaranteed annual review service at no charge. This means that once the policy comes up for review, a health insurance expert will find the most competitive quote on the market. At no point does this process cost the company looking for cheaper health insurance any money.

Insuring a small group of employees is cheaper than getting health insurance individually. For instance, if a company just provides private health insurance for the directors, this may be cheaper than each purchasing it on an individual basis.

Private health insurance has long been recognised as a great benefit by employees. For employers, it also makes financial sense. With health insurance, employees can avoid long National Health Service waiting times, therefore getting back to work more quickly. Furthermore, many company health insurance schemes include families, meaning less days off to look after sick children. It's easy to see why a group health insurance policy can help maintain productivity.