Should your small business be thinking about health insurance?

Submitted by Dean on 26 July, 2022 - 12:27 with 0 comment

Should your small business be thinking about health insurance?

Covid may not be dominating the headlines as it has done for the last 2 years but the impact on the NHS will be felt for a generation. Can you afford not to protect your workforce?

Many believe that the NHS is underfunded, understaffed and overstretched; the pandemic has all but broken the health service in recent years. The UK institution that has been around for over 70 years is now struggling to provide much needed treatments. So what could be the solution?

Employees are your business so for the time being how do you protect your people from ever growing waiting lists that could mean that they are unable to work for many months?

Private Medical Insurance helps hundreds of thousands of people every year from diagnosing a problem, undergoing treatment and any necessary aftercare. With the development of better technology including digital GP’s using video calls, many insurers even boast referral times of days between receiving a referral for a specialist consultation and being able to begin the diagnostic process. Compare this to the NHS where you could be waiting months.

The benefits to your employees and in turn; your business include:

  • Reduced waiting times – Record waiting lists estimate 6.4 million people are waiting for treatment.  Having medical insurance often allows you to get treatment quicker, particularly for non–urgent treatment.
  • Greater Choice – In the Private sector not only can you choose your hospital and specialist but some policies will even help guide you to the most appropriate specialist to help you get the treatment you need quicker.
  • Convenience and peace of mind – Being able to plan your treatment to suit your busy life and commitments is important.
  • Privacy and Quality of care – Private facilities typically include your own room, en-suite bathroom, more flexibility over visiting times and a better patient to nurse ratio than you find in the NHS.

Medical insurance has evolved over the years and many providers will not only be there to step in and help with treatments when required, they also help encourage a healthier lifestyle with some offering discounts on gym membership and subsidised annual health checks. A policy can therefore encourage your employees to be healthier and a healthier individual will be less likely to be absent from work.

What will it cost to protect your employees and your business with private medical insurance? There are some key factors that will affect the costs including the chosen cover level, the age of your employees and their location. There are numerous options available and it is imperative to get expert advice. Our group partners at Assured Futures can help you research and navigate the market to understand the products and ensure that you get the right cover to meet your own business needs. You can call our partners Assured Futures today on 01242 894930 or use this FORM Request a quote | Watkin Davies

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About Us

Watkin Davies Insurance Consultants Ltd are one of Wales’ largest Independent Insurance Brokers, established in 1978 by Roger Watkins. Since this time we have become one of the leading Commercial and Personal Insurance Brokers in the region and the trusted insurance advisor to hundreds of Welsh and UK businesses and individuals.

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