Top Tips to Keep Cover Affordable For Groups

It is very important that companies do not leave their employees and themselves exposed to health risks by cutting insurance cover, simply to save costs in the short-term.

There are ways to keep cover affordable and still safe-guard the well-being of your employees and protect the company’s profitability.

Premiums can be reduced by up to 50% in this way. Existing policy holders can increase their excess at renewal.

Match the plan benefits and area of cover to the needs. Existing policy holders can review their cover and downgrade their plan at renewal.

If you are happy for your employees to pay as they go for maternity and dental care, GP visits, prescriptions and treatment, you can opt for an Elite Bronze or Essential plan. These plans will provide cover for high-cost surgical procedures and emergency evacuation for low-cost premiums.

You can add optional routine maternity and dental benefits to these plans. You may find that this is a cheaper option than selecting Elite Gold or Platinum, which already have routine maternity and dental benefits included.

If you can afford to pay for 12 months premium up front, you will save 5% on monthly premiums. Existing policy holders paying monthly can chose to pay annually a renewal

A company with expatriates working in offices around the world could centralise their health insurance arrangements with one international plan for the entire workforce.

Companies with international offices may find it beneficial to centralise their health insurance arrangements. Rather than domestic policies in each country, an international plan with company-wide members could secure the best discounts.

Groups can select a different plan, area of cover or excess for a category of employees e.g. managers and/or directors, as long as ALL managers and/or directors are included.

Cover is provided on a compulsory basis for all employees, however, groups can restrict cover to just a chosen category of employees as a perk of senior management. Again, this is allowable as long as ALL managers and/or directors are included.