Healthy teams, stronger performance and a happier workplace
The Money Service Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority, FCA No.1057589. The Money Service Ltd is registered in England and Wales with company number 11837878. Registered Office: 52 Forder Way, Hampton, Peterborough, PE7 8JB. The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.
Small business health insurance is a type of group scheme typically designed for businesses with up to 249 employees, although the number of employees a particular scheme can cover varies between insurers. It helps your team to get diagnosed and treated sooner, without relying solely on the NHS.
You can choose from different levels of cover depending on what matters most to your business and your budget. Policies can include private consultations, diagnostic tests, hospital treatment, cancer care and mental health support.
Many plans also come with useful health and wellbeing services, such as virtual GP appointments, physiotherapy, health advice lines and employee assistance programmes. So, you're not just giving your team access to private treatment – you're providing support that can help them look after their overall wellbeing too.
When you're running an SME (small/medium-sized enterprise), even one employee being off work can have a noticeable impact. Long NHS waiting times for diagnosis or treatment can add to that disruption and leave employees waiting longer to get the care they need.
Private health insurance can give your team faster access to eligible private healthcare, while showing your employees that their health and wellbeing genuinely matter to you. It can also be a valuable addition to your benefits package when you're looking to attract and retain good people.
And the benefits aren't just about getting people treated when they're unwell. Many policies now include health and wellbeing services that can help employees stay healthier and access support before a problem becomes more disruptive.
Just as importantly, research from the Association of British Insurers found that workplace health benefits prevented 14 million sick days in a single year, highlighting the potential value of investing in employee health.
Here's why small business health insurance could be a worthwhile investment:
Support employee wellbeing: Give your team access to private healthcare and services designed to support their physical and mental health.
Reduce disruption: Faster access to diagnosis and treatment can help employees get the care they need and return to work sooner.
Support productivity: Helping employees stay healthy can reduce the disruption caused by illness and support a more productive workforce.
Attract and retain staff: Private healthcare can be a valuable addition to your employee benefits package.
We've worked hard to ensure the information on this page is accurate and up to date. However, insurers can change their terms, pricing and cover at any time. You should always check the full policy documents before choosing a plan to make sure the cover meets your needs.
Small business health insurance is typically available for SME businesses with workforces of up to 249 people. However, employee limits vary between insurers and individual schemes. In fact, some plans are designed especially for smaller teams of just a few employees, say 2-14 people, while others are available for businesses of up to 150 staff members.
It’s available for self-employed people too, with some insurers offering small business cover for just one person. So, whether you're a company director looking to arrange cover for yourself, have a handful of employees or run a growing business with a larger team, we can help you find a suitable option.
You can choose which employees are eligible for cover and, depending on the insurer, offer different levels of benefits to different groups within your business. This can allow you to create a tiered healthcare package that reflects the needs and budget of your business, subject to the insurer’s rules and your policy terms. Some insurers also allow employees to add partners or children to their cover for an additional cost.
Looking to arrange cover for your business? We help you compare options from top UK insurers. One of our qualified health insurance advisers will take the time to understand your business needs before recommending suitable cover that fits your requirements and budget. Call our team today on 0800 144 4777
Business health insurance is usually provided as part of an employee benefits package, with the employer paying the premium. The way a scheme is structured can vary depending on the insurer, the size of your workforce and the level of flexibility you need.
Typically, the policy is set up as a single plan, including core benefits such as private GP appointments, outpatient consultations, inpatient and day patient treatment, mental health support, and options such as dental and optical cover and worldwide travel cover.
Some insurers allow you to offer different levels of cover to different groups of employees, giving you more control over how your benefits package is structured and what you spend. You can also choose the range of hospitals, clinics and consultants your team can access to help manage costs.
You can also implement an excess, meaning employees pay an agreed amount towards their treatment. Choosing a higher excess can help to reduce the company's premium, although employees will need to pay more towards eligible claims.
As employer-paid health insurance is generally treated as a benefit in kind, employees usually pay income tax on the value of their cover. For example, if the benefit is worth £500 a year, an employee paying tax at 20% would pay £100 in additional income tax.
Let’s help you find the right plan
As options available depend on the insurer and the size of your business, it's important to compare different schemes to see which offers the right balance of cover, flexibility and cost for your team. We’ll explain your options and help you find a policy that gives your employees valuable healthcare benefits without paying for unnecessary cover. Call us today on 0800 144 4777 or request a call back.
The exact cover available will depend on the insurer and policy you choose. However, small business health insurance can provide access to a wide range of private healthcare and wellbeing benefits.
Below are the key benefits available with SME health insurance. Some will be included as standard, while others can be added to your policy for an additional premium.
Area of cover | What it can include |
|---|---|
Specialist consultations | Access to private consultants for diagnosis, advice and treatment. |
Diagnostic tests | Tests and scans such as X-rays, MRI scans and blood tests, depending on the policy. |
Inpatient and day patient treatment | Private hospital treatment, including eligible consultant and hospital costs. |
Cancer care | Treatment and support for eligible cancer diagnoses, with the level of cover varying between policies. |
Mental health support | Counselling, talking therapies and other mental health services, depending on the policy. |
Physiotherapy | Support with recovery from certain injuries and musculoskeletal conditions. |
Virtual GP services | Remote GP appointments by phone or video, with availability depending on the provider. |
Health and wellbeing services | Services such as health advice lines, wellbeing support and preventative health services may be included. |
Dental and optical care | Options such as dental check-ups, eye tests and contributions towards glasses may be available as additional benefits. |
Home nursing | Nursing care provided at home under the supervision of a consultant following eligible private inpatient treatment. |
NHS cash benefit | Cash payments towards eligible NHS inpatient treatment may be available when an employee chooses to use the NHS instead of private care. The amount and limits vary between policies. |
Private health insurance is designed to cover eligible medical treatment rather than every type of healthcare. Exclusions vary between insurers and policies, so it's important to check the details before choosing your cover.
It’s important to understand what's excluded so you and your employees know what you are getting for your money. The table below highlights some of the most common exclusions you are likely to find with business health insurance.
Exclusion | Explanation |
|---|---|
Emergency care | Private medical insurance generally covers planned, non-emergency treatment rather than A&E services. |
Cosmetic procedures | Treatments carried out purely for cosmetic reasons, such as facelifts or nose jobs, are usually excluded. |
Routine check-ups | Standard health screening and regular check-ups are often not included unless added as an optional extra. |
The precise exclusions will depend on the policy, so always check the full terms and conditions before choosing cover. When we compare policies for you, we'll highlight important differences in cover and exclusions, helping you understand exactly what you're getting for your money.
This is an important area to consider, as cover for pre-existing and chronic (long-term ongoing) conditions can vary between providers and policies.
Some business health insurance providers may offer cover for pre-existing conditions, depending on the underwriting method you choose:
Medical history disregarded (MHD): This is when eligible pre-existing conditions are covered straight away. Several providers including Bupa, AXA and Vitality offer this for SMEs. Terms may apply to qualify, such as needing to cover at least a specified number of employees.
Moratorium: Pre-existing conditions from the last five years may become covered after a specified symptom-free period, typically two years after the policy starts. This means no treatment, medication or medical advice has been needed for that length of time. The exact terms vary between insurers and policies.
It’s important to check the underwriting terms carefully before choosing a policy.
Chronic conditions are generally not covered by small business health insurance, but there can be exceptions. For instance, if you select cancer and mental health cover for your business policy, treatment for them will be covered according to the policy terms. Also, at least one insurer does cover treatment for an unexpected flare-up of a chronic condition if it is short-term and expected to lead to a full recovery.
The various underwriting options and what they could mean for the cover and premium can be complex. That’s why our health insurance advisers can explain them fully to help you make a decision.
When setting your premium, insurers consider factors such as the number of people you want to cover, their ages, where they live and the level of cover you choose.
Your choice of excess, underwriting and hospital access can also affect the price. Some insurers offer different levels of cover, allowing you to balance the benefits you want with what you're comfortable spending.
Insurers take a range of factors into account when calculating premiums. The main ones include:
Premiums are often based on the average age of the group. A younger workforce may result in lower costs, while an older group can increase premiums.
Roles that are more physically demanding or higher risk may lead to higher premiums.
Costs can vary by region, with premiums in areas such as London higher due to higher treatment costs.
Larger plans can reduce the average cost per person.
Choosing a lower excess typically increases premiums, while a higher excess can help reduce costs.
Rather than spending hours requesting quotes and trying to work out which policy offers the best value, why not let our specialist advisers do the legwork? We'll compare suitable options based on your requirements and explain the differences, giving you a clearer idea of what your business could get for its budget. Call us today on 0800 144 4777 or request a call back.
At Money Service, you’ll be connected with your own dedicated health insurance specialist. They will offer fee-free, impartial advice to help you make an informed decision for your business. They’ll take the time to understand your company’s needs, workforce and budget, so any recommendations are tailored to you – and not a one-size-fits-all approach.
This means you get clear, unbiased guidance and suitable cover options from leading UK insurers, helping you choose the right plan for your business and employees.
1. Understanding your business needs
We’ll start by discussing your reasons for arranging cover and your budget, before gathering key information about your business, including the size of your team, structure and the level of cover you want to offer.
2. Reviewing your workforce requirements
Then we’ll make sure we understand your employees and any particular health considerations, helping identify the most suitable underwriting approach.
3. Comparing suitable insurers
By comparing policies from leading UK insurers, we’ll identify schemes that are available to businesses of your size and match your needs, budget and preferences, such as the hospitals your employees will be able to access.
4. Building your tailored quote
We’ll tailor quotes around your requirements, including cover levels and any features such as mental health support, physiotherapy or additional employee benefits.
5. Clear recommendations
You’ll receive a clear recommendation, often alongside an alternative option, so you can compare with confidence.
6. Applying for cover
If you decide to proceed, we’ll be there to help during the application process to ensure things go as smoothly as possible.
This personalised service ensures you receive tailored recommendations based on your business, rather than a one-size-fits-all comparison, helping you choose the right cover with confidence.
Annual reviews
Your business won't necessarily stay the same from one year to the next. Towards the end of your first year, we'll offer a free policy review to make sure your cover continues to suit your business and remains competitively priced as your team or circumstances change.
If you’re looking to compare SME health insurance plans, cost will naturally be an important consideration. There are a few ways you may be able to reduce your premium while still offering valuable cover for your team.
Here are some options to consider when choosing your plan and level of cover:
Increasing the excess employees pay when making a claim can help reduce overall premiums.
Choosing a more basic policy without additional benefits such as dental cover, psychiatric support, physiotherapy or second medical opinions can help keep costs down.
Some insurers offer a scheme where, if NHS treatment is available within six weeks, employees will use NHS services instead of private care.
Different underwriting methods can affect both the price and how pre-existing conditions are treated. For instance, moratorium underwriting is likely to work out more cost effective than opting for medical history disregarded.
Speaking to a specialist who can compare a range of plans on your behalf is the best way to make sure you’re getting the right cover for your company at a competitive price. Get started now by calling us on 0800 144 4777 or request a call back for a time that suits you.
Save time, compare your options, and choose with confidence. Let our specialist advisers do the hard work for you, helping you find suitable cover from leading UK insurers.
