When it comes to employee health insurance in the UK, there is no single answer - the cost can vary widely depending on the type of cover you choose and the size of your business.
Firstly, it is important to understand the different types of health insurance available in the UK. There are three main types of cover: private medical insurance, cash plans and health benefit plans. Each offers different levels of cover and premiums will vary depending on the type you select.
Private medical insurance is typically the most expensive option, but it provides a range of treatments and inpatient care that may not be available on the NHS. It can also give employees access to private doctors and hospitals. Premiums for private medical insurance are based on factors such as your age, the size of your business and the level of cover chosen.
Cash plans are often the most cost-effective choice for smaller businesses, as they offer a range of benefits such as dental treatment, optical and maternity benefits. Premiums are based on a fixed annual payment and can be paid monthly or annually.
Health benefit plans typically offer vital healthcare benefits such as inpatient and outpatient care, but may not cover specialist treatments or private hospital stays. Premiums are based on factors such as the level of cover chosen, the number of people covered and the age of the employees.
To get an accurate idea of how much employee health insurance will cost for your business, it is best to obtain quotes from more than one provider. Most providers in the UK have online tools to help you generate an estimate of the cost - you can find a list of major insurers here:
https://www.uspcalifehealth.com/business/health-insurance/top-uk-health-insurance-providers
You may also want to speak to an insurance broker to get assistance in selecting the right type of health insurance for your company.
By understanding the different types of health insurance available and getting help to compare the costs of different policies, you can ensure that you choose the best option for your business's needs.