Our brokers are often asked what kind of Small Business Health Insurance options exist. Some business owners worry whether their company will even qualify when so many insurers seem to target their policies towards corporate businesses.

But worry not, we’re usually able to find a policy that suits. We’ve even been able to find a policy for a single limited company director!

In this article, we look at the different options currently available for small businesses seeking health insurance for their employees.

If you’re looking for private medical insurance quotes for your small business, then contact our award-winning brokers on 01273 222805 or email [email protected]. Our friendly team compares prices from across the market to deliver the best deals for your business.

Small Business Health Insurance: options and add-ons explained

Company Health Insurance provides private health cover to your employees, giving them access to a range of treatments and services in private hospitals. But what’s included and excluded in the plan can vary a lot! But one key point to remember is that it mostly covers acute conditions and not chronic conditions.

Acute conditions includes conditions which are curable or respond well to treatment, while chronic conditions are unlikely to improve with treatment. You can read more in our acute versus chronic conditions explainer.

Small Business Health Insurance is popular with staff as it ensures they get quicker access to treatments for a wide range of conditions, plus GP access, consultations and diagnostics. It provides that perfect combination of helping prevent health issues in the first place but also offering reactive care if things do go wrong.

Typically, an insurer defines a small businesses 1-249 employees.

What services are usually covered as standard?

• In-patient treatment (treatment and services requiring an overnight stay)
• Out-patient treatment (in and out in the same day)
• Cancer cover
• Physiotherapy, osteopathy, chiropractic treatment
• Mental health support options
• Consultations with specialists
• Diagnostic tests (blood tests, X-rays, scans)
• Medications

What additional services are potentially available?

Most Small Business Health plans include additional options and extra perks to raise the value of your plan. Examples of these could be:

• Virtual GP
• Second medical opinion
• Fast track appointments
• Employee Assistance Programmes (a wellbeing service designed to help employees with emotional stresses and strains)
• Health Screening
• NHS Cash Benefit
• Dental / Optical
• Gym membership discounts

As you can imagine, what you choose to include and exclude can affect the premium, AKA the upfront cost of the insurance.

Have you got a list of questions which you REALLY want answered? Call one of the friendly experts at Hooray for FREE straightforward advice. Call the team on 01273 222805 or write to us at [email protected].

6 insurers offering Small Business Health Insurance

Here are six insurers that we’ve personally worked with on behalf of small business clients. Each one has its unique selling points but working out which is best ultimately depends on the needs of your business and its staff.

#1 Bupa

One of the best known providers in the UK, Bupa’s Small Business Health Insurance plan offers four tiers of coverage adapted to different budgets. Their small business plans are available for companies with 2-249 employees and a few of their stand-out features, alongside offering the standard core cover, includes:

• Access up to 600 hospitals/clinics in the Bupa network
• 24/7 access to a qualified nurse (Bupa Anytime Healthline)
• Access to the Bupa Blua GP app provided for virtual GP appointments around the clock as well as a symptom checker
• Extensive mental health cover options
• Access to JAAQ – an employee mental wellbeing platform
• Menopause helpline

#2 AXA Health

AXA is a multinational insurance company based in France with networks on a global level. AXA’s Small Business Health Insurance options cover between 1 and 249 employees. As well as including standard cover, they also offer a wide range of extra services:

• 24/7 access to an online GP or advanced nurse practitioner service via AXA’s Doctor at Hand service
• Physiotherapy consultations (Working Body service to speak with an expert online/via the phone)
• Up to 40% off monthly Nuffield Health, Fitness and Wellbeing centre membership, and Hussle Monthly+ pass fees
• Cancer care and heart conditions covered
• Muscles, bones and joints support service (get professional advice without needing a GP referral)
• Access to AXA’s Employee Assistance Programme to support emotional wellbeing: EAP Essentials or EAP Premier

#3 Aviva

Aviva is a health insurance provider with headquarters in the UK offering a wide range of support options from flexible healthcare to ongoing support. Aviva adapts to suit any small business with packages for 1 to 99 employees and 100 to 249 employees, its small business health insurance options include:

• Expert Select service (when a claim is made, the employee will be recommended an average of 4 or 5 hospitals/clinics)
• Enhanced cancer cover (providing support at each stage of treatment)
• Mental health pathways (including talking therapies and counselling without the need for a GP recommendation)
• BacktoBetter (providing specialist support for musculoskeletal conditions)
• Aviva digital GP (24/7 unlimited access to a private GP)
• Aviva Employee Assistance Programme (including access to counsellors from the British Association of Trained Counselling and Psychotherapy)

#4 Vitality

Another well known London-based UK health insurance company, Vitality offers up a huge array of services for their business health clients. And they don’t skimp when it comes to offering the best small business health insurance options! Some of their offerings for businesses with 1-249 employees includes:

• Up to £100 per year for private prescriptions and minor tests
• Virtual GP app
• Up to 8 sessions of therapy / CBT
• Rewards for adopting healthy habits
• NHS Cash benefit:£250 per night up to £2000 per plan year for inpatient (overnight) services or £125 per day up to £500 per plan year for day patient treatment)=
• Childbirth / adoption cash benefits (£100 per child)
• Pregnancy complications cover
• Weight loss and corrective surgery (member contributes 25%)
• Employee Assistance Programme provided by Health Assured offering 24/7 counselling support

#5 Freedom Health Insurance

Freedom Health Insurance are a specialist health insurance company based in the UK, offering cover for groups of all sizes with a wide range of underwriting options to be tailored to fit with unique business budgets and needs. Its Freedom Elite package offers extensive coverage for small businesses and includes:

• Accommodation in private hospital rooms
• Out-patient treatments inc. specialist fees, diagnostic tests, physiotherapy
• £100 for each day and £200 cash benefit for each day & night spent in hospital
• Wide choice of hospital or consultant
• Comprehensive cancer cover
• Fixed cash amount towards dental surgery

#6 WPA

WPA is less of a household name, but this not-for-profit insurer also offers a solid plan for small businesses with 1-150 employees. They have a flexible pricing range, and some of the features can include:

• Cash benefit for cancer and non-cancer hospital stays in NHS hospitals
• Specialist cancer care with no financial limits
• Remote GP service
• Employee Assistance Programme: including 24/7 phoneline support for issues around emotional and mental wellbeing
• Structured counselling (including for family members older than 16)
• Health and wellbeing hub providing useful tips and advice

Which is better Bupa or AXA? How good is Aviva health insurance? Is Vitality the one for me? There is no one answer to these questions, as every business case differs. But our free price comparison service and expert brokers will ensure you find the right deal.

5 clever alternatives to health insurance

If health insurance turns out to be just too costly, there are other options to consider for small businesses:

1. Health Cash Plan: This is a form of health insurance which provides coverage for everyday health needs rather than serious health conditions. It includes things like: physiotherapy, osteopathy, acupuncture, dental care, eyecare, health checks/scans, prescriptions, hearing aids and more. Read our guide to Business Health Cash Plans.

2. Employee Assistance Programme (EAP): Often packaged within a health insurance scheme, they can also be purchased separately. It provides emotional and mental health support through a combination of online tools and one-to-one counselling services. Read our guide to EAPs.

3. Group Income Protection: Provides sick pay to employees above and beyond the statutory requirement BUT also provides practical support to help them get better and make a faster return to work. Read our guide to Group Income Protection.

4. Critical Illness Cover: Designed for employees suffering from a critical illness – giving them financial support to deal with the inevitable loss of income. It usually comes with an EAP too, so they can get support with the emotional fall out from such a diagnosis. Read more about Critical Illness Cover.

5. Dental care/optical coverage: These usually come with a Cash Plan and private health scheme, but can also be purchased separately. Learn three different ways to source Group Dental Insurance.

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How can you be sure you’ve got the right deal?

Finding the ideal health insurance policy is no easy task. But knowing who the top insurers are and how health insurance policies can be adapted to fit with any small business is a great start.

However, getting some extra help from an independent health insurance broker when setting up a plan can make all the difference. That’s where our team at Hooray can help!

We offer FREE advice to start-ups and SMEs who are looking to launch their employee benefits or reviewing an existing scheme.

Instead of spending time reading the small print of various insurance policies, you can simply give us a call and get answers to all the questions you ever wanted to ask. And, all importantly – get accurate quotes from across the market!

Contact us at [email protected] or call 01273 222805 for FREE no-obligation advice and support.