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How does private health insurance work?

Private health insurance is similar to other types of insurance. You pay a monthly or yearly fee called a premium.


Getting Referred

If you have a health issue, see your GP and let them know about your private cover. They may refer you to a specialist, and you might choose private hospitals or specialists not offered by the NHS.


Informing Your Insurer

Tell your insurer you want to make a claim. They'll check if your policy covers the treatment you need. If it does, your claim gets approved.


Cost Coverage

Your GP will book your appointment, and your insurance covers the cost if your policy is active. You might pay an excess depending on your policy.

What is corporate health insurance?

Corporate health insurance, also known as business health insurance, is a policy initiated by an employer to cover employees' medical bills for private treatment of acute medical conditions occurring after the policy's commencement. It ensures access to private clinics, hospitals, and consultants, bypassing NHS waiting lists for prompt and effective treatment.

What's the difference between corporate health insurance and small business health insurance?

Corporate health insurance is for big groups and larger businesses with over 100 workers, while small business health insurance is for smaller groups with less than 100 employees. Although they both offer similar benefits, there are some differences. For instance, small business plans might have easier processes for getting insurance and lower costs because there are fewer people in the group. But overall, both types aim to give good coverage and benefits to help employees with their healthcare needs.

How does corporate health insurance work?

Corporate health insurance operates as a contract between a company and a health insurance provider, benefiting the employees. The employer pays for the insurance, and employees enjoy the benefits. For employers, this insurance can attract talent, reduce sickness absence, boost motivation, productivity, and loyalty. Employees gain access to private healthcare, quicker treatment, and more control over their healthcare choices compared to relying solely on the NHS. This coverage addresses both physical and their mental health support, promoting a healthier workforce. Ultimately, corporate health insurance serves as a vital tool in enhancing employee welfare while supporting business objectives.

How much will corporate health insurance cost per employee?

As a Moneyrepublic broker, the corporate health insurance cost cover per employee depends on several factors:

  • Location of your company.
  • Ages of your employees.
  • Underwriting process.
  • Participating hospitals.
  • Past claims history.
  • Outpatient benefits.
  • Number of employees enrolled.

Typically, insurers may offer discounts for larger companies and businesses. By considering these factors, we can tailor a plan that suits your company's needs while ensuring cost-effectiveness and comprehensive coverage for your employees. If you are looking for a starting point, you can consider it to be £75 per employee. Remember, it can be higher or lower depending on the factors above.

Benefits of corporate health insurance

As a Moneyrepublic broker, we offer comprehensive corporate health insurance plans that cover a wide range of benefits:

  • Inpatient Care: Covering expenses for hospital stays when treatment requires admission.
  • Outpatient Care: Including consultations, tests, scans, and therapies without requiring hospital admission.
  • Tests and Scans: Covering diagnostic procedures such as X-rays, CT scans, and MRIs.
  • Consultations: Reimbursing costs associated with specialist appointments and consultations.
  • Surgeries: Covering expenses for surgical procedures, including surgeon fees and hospital charges.
  • Hospital Stays: Providing financial support for accommodation and medical services during hospital stays.
  • Therapies: Including physiotherapy, occupational therapy, and speech therapy sessions.
  • Exclusive Drugs: Covering the cost of prescribed medications not available through the NHS.
  • Alternative Therapies: Reimbursing expenses for complementary treatments like acupuncture or chiropractic care.

With our comprehensive coverage, your employees can access quality healthcare services without worrying about financial burdens.

What's covered in corporate health insurance plan?

Comprehensive corporate health insurance plans typically cover a wide range of medical services and treatments to ensure employees receive comprehensive care, including:

Inpatient CoverOutpatient Cover
  1. Hospital Stays: Covers expenses associated with accommodation, nursing care, and medical services during hospital stays for treatments requiring admission.
  2. Surgeries: Provides coverage for surgical procedures, including surgeon fees, anesthesia, and hospital charges.
  3. Treatments Requiring Admission: Includes coverage for specialized treatments, therapies, and procedures that necessitate admission to a hospital for proper care and management.
  4. Emergency Care: Covers emergency medical interventions and treatments, including urgent surgeries and procedures, required during unexpected medical emergencies.
  1. Consultations with Specialists: Provides coverage for appointments with specialized healthcare professionals, including specialists, consultants, and therapists, for medical assessments and treatment plans.
  2. Diagnostic Tests: Includes coverage for various diagnostic procedures such as X-rays, blood tests, MRI scans, and CT scans conducted in outpatient settings for the diagnosis and monitoring of medical conditions.
  3. Therapies: Offers coverage for therapeutic interventions and sessions conducted on an outpatient basis, such as physiotherapy, occupational therapy, and behavioral therapy, to address specific health concerns and improve overall wellbeing.
  4. Medications: Provides coverage for prescribed medications and drugs prescribed by healthcare professionals for the management and treatment of medical conditions, including chronic illnesses and acute ailments.

Moreover, comprehensive corporate health insurance plans may offer additional benefits

  1. Choice of Specialists: Allows employees to choose healthcare providers and specialists for personalized care and treatment.
  2. Reduced Waiting Times: Ensures quicker access to appointments, consultations, and procedures, reducing waiting times for medical services.
  3. Private Hospital Rooms: Offers the option for private accommodation and enhanced amenities during hospital stays for added comfort and privacy.
  4. Scheduling Flexibility: Provides flexibility in scheduling appointments and treatments to accommodate employees' preferences and work commitments.

By offering comprehensive coverage for both inpatient and outpatient services, the corporate health insurance policy ensures that employees have access to the necessary medical care and treatments they need to maintain their health and wellbeing.

Types of underwriting

Moratorium underwriting

Moratorium underwriting is a prevalent method used in Corporate Health Insurance policies in the UK. It simplifies the process for you and your employees by automatically excluding any pre-existing conditions from the past 5 years, mental health before without the need for medical history questionnaires.

Full medical underwriting

Full Medical Underwriting means the company looks at each employee's entire medical history to decide on a quote. This gives a detailed summary of what's covered, but it takes a lot of time, especially for bigger groups. It's good for understanding what's included, but it's tough for groups with more than a dozen employees.

Medical history disregarded

Medical History Disregarded offers complete cover without considering pre-existing conditions. It's the most comprehensive business health insurance plan but also the most expensive form of underwriting, usually available only to groups of 20 or more members.

Continuing personal medical exclusions

Continuing Personal Medical Exclusions allow employees with existing Private Medical Insurance to switch to a corporate health insurance cover another provider. This ensures that coverage for pre-existing conditions remains intact in the future, providing continuity of care without disruptions.

Can my employees add their families to the coverage?

At Moneyrepublic, we facilitate employees in adding their families to business health insurance coverage. Partners and children can be included, with payment options available through either the company or salary sacrifice arrangements. While age limits may apply for dependent children, our team ensures clarity on coverage specifics for partners, tailoring solutions to meet your unique business needs.

Can you provide different benefit packages within the same insurance policy?

At Moneyrepublic, we understand the importance of flexibility in corporate health insurance. We offer customizable benefit packages that allow companies to have business health insurance policies that provide different levels of coverage to various employee groups. Our plans can accommodate unique features tailored to your company's specific needs, ensuring comprehensive and tailored coverage for all employees.

How does HMRC tax corporate health insurance?

HMRC treats company health insurance differently for employers and employees. For employers, it's considered a valid business trading expense. However, for employees, it's viewed as a taxable benefit in kind. This means it's subject to taxation and must be reported as part of the P11D submission. Understanding these tax implications is crucial for both employers and employees when offering or receiving corporate health insurance benefits.


Can you provide different benefit packages within the same insurance policy?

Absolutely. At Moneyrepublic, we understand the importance of flexibility in corporate health insurance. We offer customizable benefit packages that allow companies to provide different levels of coverage to various employee groups, ensuring comprehensive and tailored coverage for all employees.

What are the different types of underwriting used in corporate health insurance?

There are various types of underwriting, including Moratorium Underwriting, Full Medical Underwriting, Medical History Disregarded, and Continuing Personal Medical Exclusions. Each has its own implications and considerations, ranging from excluding pre-existing conditions to reviewing complete medical histories. Understanding these options can help tailor the insurance plan to your specific needs and preferences.

Is corporate health insurance a P11D benefit for employees?

Yes, Corporate Health Insurance is considered a P11D benefit for employees. This means that employees may be subject to additional tax as a result of having the cover. Typically, HMRC adjusts the employee's tax code to account for the cost of the premiums, reducing the amount of earnings before tax applies. This ensures that the taxable benefit of the insurance is appropriately accounted for in the employee's tax liabilities.

Who are the best UK business health insurance providers in 2024?

As independent insurance experts, Moneyrepublic collaborates with all the top UK providers for corporate health insurance. Among the leading providers are Aviva, Axa, Bupa, and Vitality. While each insurer offers unique features, the best choice for your company depends on your specific circumstances. Moneyrepublic's role is to ensure you receive the most suitable coverage for your business and employees at competitive rates. We negotiate better terms and conduct annual market reviews to guarantee you always have the best options available.

Is health insurance classed as a business expense?

Yes, health insurance for employees can be classified as a business expense, making it eligible for tax relief. However, employees are required to pay tax on their healthcare cover, as it's considered a benefit in kind. This tax implication should be taken into account when considering corporate health insurance options.

How much do employers pay for health insurance?

The amount employers pay for company health insurance varies based on the number of people covered and the level of protection selected. It's tailored to the specific needs of the company and its employees.