Company health insurance requires serious consideration and there some questions that are asked on a regular basis. At ActiveQuote we have answered some of the most common quesries about group health insurance to help you have a greater understanding of the product.
How does group medical insurance work?
A group health insurance policy at your company or society provides the policy members with access to private healthcare when they need it.
Employees with company health insurance can bypass NHS queues and have prompt consultations and treatments at a hospital of their choice meaning they can get back on their feet as quickly as possible.
Who is group health insurance for?
Group health insurance can be provided to staff as part of their benefits package or members of a society looking to club together and get a reduced rate on their health insurance premiums.
It can help recruit and retain your workforce and keep sickness days down to a minimum as well as motivating your employees.
Who can buy group health insurance policies?
A company of any size can buy a group health insurance policy that covers some or all of its employees. Once you have a policy in place you can add or remove members when you choose, so if an employee leaves or you recruit someone new you can amend your policy.
Will premiums increase for my workforce?
As employees get older their chances of falling ill or injuring themselves increase and so they may experience an increase in their health insurance premiums. Another factor in premium increase may be if health insurers have to subsidise the cost of more advanced medical practices and drugs.
What are the benefits of the company medical insurance?
Company health insurance can improve your business’s productivity and make your staff feel valued by showing concern for your workforce’s health.
If you have company health insurance for your employees you can expect fewer sickness days as staff are treated more quickly, bypassing NHS waiting lists. Private appointments and consultations can be chosen at a suitable time during the day to suit both the employee and business. NHS appointments can be difficult to rearrange and can take up half a working day.
Will employees be covered for illnesses they’ve had in the past?
Most health insurance policies do not cover pre-existing conditions as standard but employees may qualify for treatment for illnesses they’ve had in the past if they remain symptom and treatment free for a pre-agreed period of time, usually two years.
For larger companies who have a group health insurance policy, all employees may be able to receive cover with their medical history disregarded.
Will company health insurance provide cover for cancer treatment?
Depending on your policy your employees can be covered for cancer treatments, recovery and access to cancer-preventing drugs. Health insurance policies with comprehensive cancer care can provide treatment for chemotherapy and surgery. Whilst some policies can have annual limits of around £30,000 per policy member others can be unlimited depending on the level of cover chosen.
Will company health insurance cover pregnancy?
Company medical insurance does not cover routine pregnancy but may provide treatment for complications arising from pregnancy. However this is usually only after an employee has been on the policy for a specific number of years.
Will group health insurance cover me for dental treatments?
As with pregnancy healthcare, dental care is not normally covered in most health insurance plans. However some of the more comprehensive company health insurance policies may include some form of dental treatment.
Will I be covered for a chronic condition?
If an employee develops a chronic condition the policy will not pay for the on-going treatment of the condition but may help pay to stabilise the condition if symptoms are particularly severe.
Is there anything group medical insurance will not cover?
Group health insurance is not designed to cover voluntary medical expenses including cosmetic surgery, IVF courses, pregnancy, gender reassignment or weight-loss surgery. This list is not exhaustive so make sure to read through your policy in detail to see what is and what is not covered.
Can my employees choose the hospital they are treated in?
Employees can choose the private hospital where they are treated and have their consultations. This can be useful if the employee has an appointment during their working week and wishes to choose a hospital close to their place of work.
How do my employees make a health insurance claim on group cover?
If an employee suspects they are ill or something is wrong they can visit their local GP as usual. The GP will refer them for treatment and the employee then informs your insurer of the claim and choosing where they would like to be treated.
Once the claim has been confirmed your employee can book your private health treatment and payment will be arranged by the insurer.
