How do i provide health insurance for my employees

A recent study showed that if every employee in the UK were just 1% happier, the economy could see a boost of an additional £24bn. It may sound frivolous, but happy employees should be a top priority for companies, especially as hiring costs rise and the job market becomes increasingly competitive.

Employee benefits packages can be essential in keeping employees happy and safe. a recent survey showed that 38% of office workers said they would consider changing companies for better benefits, a statistic that cannot be ignored. Employee benefits packages can cause some SMBs to panic and think, “Isn’t this just another expense?” There’s no easy answer to this, but as experts, we believe that providing employee benefits is an investment in the happiness, health and well-being of your employees. . All of this, in turn, is an investment in your business: it helps you attract the best candidates, and it also helps you reduce turnover costs.

Reading: How do i provide health insurance for my employees

What should I include in an employee benefits package?

Employee benefit packages can vary in size, cost, and style.

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Recently, there has been a trend for companies to offer “featured” benefits, some of which make headlines! for example, brewdog launched ‘pawternity’: a week of paid leave for any employee who adopts a puppy or rescues a dog. While these types of headline-grabbing benefits are rare, more and more job seekers are now looking at perks like health insurance as key when searching for their next position.

When thinking about what you want to include in your employee benefits package, make sure it reflects your company’s culture and ethics. Benefits like health insurance or pensions may not be considered “cool,” but they show that you care about your employees in the long run.

How can health insurance benefit my employees?

Private health insurance is a staple of the employee benefits package and can provide your employees with a variety of benefits. here in the uk, we are lucky to have the nhs, which gives us free health care. Although this is the main option for many of us, the increase in demand in recent years means that many services and routine operations are now subject to long waiting times. With the right private health insurance cover, employees can access diagnosis and treatment through private clinics and hospitals, avoiding NHS waiting times.

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From an employer’s point of view, private health insurance can also benefit a business. With the right coverage, your employees will be able to seek treatment quickly. this, in turn, can get employees back to work faster if they get sick. Private health insurance can also provide your employees with “extra” coverage, when it matters most. for example, many private insurers provide policyholders with specific “cancer coverage.” this provides diagnosed people with access to specialized consultations and treatments, without long waiting periods.

Can I pay for company health insurance?

In the UK, the average employee is sick on average 6.3 days a year; this represents an average cost to businesses of £522 per year, per employee. Hiring new employees can also be in the region of 20-30% of an employee’s final salary, for an average UK salary of £5,000 to hire someone. With these costs in mind, investing in employee benefits and health insurance is not only important for happiness but also for a company’s bank balance.

here at health insurance specialists we are experts when it comes to business health insurance. our highly trained team is 100% independent and has the knowledge to help you find the right employee health insurance coverage, at the best price, guaranteed! We know that finding the right employee health insurance can be confusing and time consuming, which is why we’re here to find it for you. simply fill out our online form and we’ll look it up for you, giving you a variety of no-obligation quotes to choose from. Alternatively, call our friendly team on 0808 10 18 999.

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