What is small business health insurance?
Small business health insurance (also referred to as SME health insurance) is a type of insurance plan designed to cover medical expenses for employees of small to medium-sized companies and offer them support when they need it most.
SME medical insurance is particularly important for smaller businesses who may not be able to afford losing a member of staff for long periods of time due to illness. From cancer cover to mental health support, our small business health insurance will both offer your employees peace of mind and keep your business running smoothly.
Why take out private medical insurance for your business?
Small business private medical insurance is a highly valued benefit among employees, giving them access to private medical care at times convenient to them; but it can also be a tool for employers to improve their business by:
Gaining a competitive edge
The way you look after your team can be a point of differentiation in the industry, making your workplace more attractive to highly skilled job seekers. Especially if you’re a small business in a big players’ market, small business private health insurance can be a reason for people to choose your business over another, thus improving your company’s ability to recruit talented people.
Improving staff loyalty & retention
When employees feel valued by their employer and are offered health insurance benefits, they are more likely to stay with that company for longer and are motivated to perform better. Show your staff you care about their health and wellbeing with a health insurance plan they can rely on.
Reducing absenteeism and presenteeism
Sickness can have a significant impact on your bottom line, and it’s not just the cost of sick days that adds to it, but also the lost productivity of working when sick and in need of medical care. Business private medical insurance helps your staff return to work sooner by giving them quick access to healthcare and the flexibility to choose when and where they receive treatment.
Increasing job satisfaction and morale
A small business private medical insurance plan can contribute towards a stronger and more positive relationship with your employees and build more trust in your organisation. A company that nurtures its people, ensuring they are healthy and provides opportunities for them to be at their very best, fosters growth, innovation and profitability.