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Small Business Health Insurance
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Talk to an adviser →Affordable Health Insurance Quotes For Small Business Owners
Private medical insurance can help small businesses support staff with eligible diagnosis and treatment. Scheme minimums, dependant options and eligibility for sole directors vary by insurer. Tax treatment depends on who is insured and the business circumstances; a sole trader’s own PMI is generally not deductible merely because it is described as a business policy. Group and direct prices can differ, but a broker cannot guarantee a lower price. We compare a panel of leading UK insurers, and our advice is free to customers because the insurer pays us commission.
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New cover or a renewal? Start with what you need, then explore your options with a real person.
Start your enquiry →Compare your renewal →“Matt took the time to understand my needs and budget, then presented me with tailored options that gave me peace of mind.”
Chris Slack · Customer review
Read customer reviews →CUSTOMER REVIEWS
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“Advice was very clear and the process was straightforward.”
“James was very helpful and saved our company a fortune!”
“Swift, efficient, knowledgeable and friendly.”
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Having know Matt for a number of years, dealings with him have personally always been an easy one and a pleasure.
Providers need brokers as much as brokers need providers. The only thing that truly makes this work is the ability for both sides to see and appreciate the value in having and maintaining an open and honest relationship.
This in turn will and has always produced mutually beneficial outcomes, and happy clients/members.
Thank you Matt.Yogesh Patel
Working with Matt Hall was a game-changer as his expertise and personalised approach made all the difference. Matt took the time to understand my needs and budget, then presented me with tailored options that gave me peace of mind. Matt’s commitment to transparency and advocacy ensured I got the coverage I needed at the best possible price. I highly recommend Matt to anyone seeking clarity and support in navigating the complex world of health insurance.Chris Slack
I cannot praise Matt Hall enough for his fantastic advice and service. From the moment I reached out, Matt provided invaluable guidance, helping me navigate the complexities of health insurance with ease. His expertise ensured I found the perfect plan tailored to my company, saving both time and money. I highly recommend Matt to anyone seeking reliable and knowledgeable assistance in selecting health insurance.Shaun Smith
Matt was very helpful and informative. He listened to our needs and found the best policies. He explained how they worked, the differences and benefits of each one allowing us to make the best choice. The prices were better than we could get going direct to the providers. Would highly recommend.David
What you need to know about health insurance for small business
Cost Efficiency:
Premiums a company pays for employee health insurance are deductible against corporation tax. The cover counts as a P11D benefit in kind, so each employee pays income tax on the value of their premium at their marginal rate.
On a £600 annual premium, a basic-rate (20%) employee pays £120 a year and a higher-rate (40%) employee pays £240, and the employer pays Class 1A National Insurance at 15% on top.
You commit for the policy year, but most insurers allow monthly payments to help with cashflow. Read the full P11D and tax treatment guide for the detail.
Comprehensive Coverage:
Our panel includes leading UK insurers. Scheme eligibility, minimum membership and dependant options differ between providers. Ask us to check which options suit your business rather than assuming every insurer offers the same one-person arrangement.
Medical History Disregard (MHD):
MHD underwriting can avoid individual medical-history exclusions for an eligible group scheme. Insurer eligibility, minimum membership, actively-at-work requirements and other conditions vary. It does not remove general policy exclusions or guarantee chronic-condition care. There is no universal heart or cancer risk filter across all MHD policies; check the actual terms offered.
Quick Access to Care:
Access to a specialist depends on referral, insurer authorisation, location, appointment availability and policy terms. Private cover can offer additional treatment options, but we cannot promise an appointment within a fixed number of hours.
Different Underwriting methods can be available for each employee:
Some schemes permit different benefit categories or underwriting arrangements, subject to insurer eligibility and scheme rules. Do not assume staff can individually choose MHD or that an existing condition will be covered. We can help check the options offered for your group.
Recruitment and Retention:
Offering robust health insurance can be a significant incentive for attracting and retaining top talent. It shows that you care about your employees' well-being.
Call us now for a tailor made quote.
Speak to an Expert Today
Let our team of specialists guide you through options tailored to your individual circumstances.What are the benefits for your business?
1.
Fast Recovery
Quicker diagnosis and treatment means staff are back at work sooner, which on a small team is the difference between a blip and a project stalling.
2.
Peace of Mind
Eligible treatment is paid according to the policy’s benefits and limits. Employees may still need to pay an excess, co-payment or charges outside cover. Obtain authorisation before arranging treatment.
3.
Premium Healthcare
Cover can provide access to recognised private hospitals and consultants. Appointment availability varies by speciality, location, referral and authorisation; fixed waiting times are not guaranteed.
4.
Employee Satisfaction
Private cover is one of the most valued benefits after pension and salary, and it is a visible signal that the business invests in its people, which helps with both hiring and retention.
5.
Healthier Staff
Earlier access to eligible diagnosis and treatment may help employees manage an acute health problem. Timing depends on referral, insurer authorisation, location, availability and policy terms.
6.
Additional Benefits
Some of the best Insurers offer a wide range of fitness incentives, such as half price gym membership and discounted health technology. Read our comparison of these here. Staff will love them, and if they are already gym bunnies, they could save a small fortune.
How can you get company health insurance?
You can approach an insurer directly or use a specialist broker. Our customer service is free: we receive commission from the insurer when a policy is arranged. We compare suitable options from our panel and explain underwriting choices. Your employer or accountant remains responsible for tax calculations and P11D or payrolled-benefit reporting.
Assessing correct underwriting method for each member.
Help you predict the level of cover you need for a usable, but affordable plan.
Consider your local access to hospitals, and how those feed into hospital list choices (extended lists cost more, reduced lists reduce your premium) it is important to figure out the adequate level of access.
Insurers change their pricing regularly, which means it is essential someone compares value across the panel of leading UK insurers.
Keep policy costs and membership records for your payroll team or accountant. They can confirm the required benefit reporting and tax treatment; we do not promise to prepare or submit P11D returns.
Each renewal, you really want to be shopping around and considering your options, it is obvious that staying with one provider directly does not allow for this and navigating the market yourself can be confusing.
Time is the biggest cost – why not let someone like us do all the background comparison work for you, there are no charges for our service as the insurer themselves remunerate us.
How Does business health insurance work?
Starting a claim is the same as an individual policy, which you can read about here. In short, you will normally get referred to a specialist via your GP. From there, you will be able to choose who and when you see that specialist. They will conduct the required diagnostic tests and then book you in for treatment as and when necessary. The insurer will pick up the costs of this assessment / treatment, deducting any excess payment on the policy, up to the agreed claim limit. This typically applies to outpatient cover, as most in / day patient treatment is normally covered in full.
For individual or family private health insurance, visit our private medical insurance page for a full guide to personal cover options.
Expand Your Coverage Globally with International Business Health Insurance
If your team works overseas, see our international business health insurance cover.
Get A QuoteHow are membership costs calculated?
Insurers normally use a range of variables such as:
Group size - larger groups attract lower per-head rates
Underwriting method - MHD costs more than moratorium
Any high-risk pre-existing medical history
Location – this impacts your hospital choices (some units are more expensive)
Cover level – comprehensive cover obviously costs more
Previous years activity (if you have been on cover before) they will assess your group ‘performance’, which is a fancy word for loss ratio. Loss ratio means, ‘did the insurer pay out more money than they took from you as payment’. IE are you profitable. If large claims have been made on the group, then the risk of future claims (for ongoing, or related medical history) increases and so should the premium to compensate.
Let's Provide You With a Quotation
Tell us your team size, ages and budget, and we will compare the panel of leading UK insurers and come back with the options that fit, along with a clear recommendation. There is no charge for the review, because the insurer pays us. Contact us today to get started.
Frequently Asked Questions
Get Answers to Common Queries About Health Insurance Coverage
How Many Employees do you Need to get onto a Small Business Health Insurance Policy?
Scheme minimums vary by insurer. MHD underwriting is only available where the scheme meets the insurer’s criteria; it does not remove general exclusions. Ask us to check eligibility and the terms available for your actual group.
How much does the BIK (benefit in Kind) cost each Employee?
Each employee pays income tax on the value of their cover at their marginal rate. On a £600 annual premium that is £120 a year for a basic-rate (20%) employee and £240 for a higher-rate (40%) employee, and the employer pays Class 1A National Insurance at 15% on top. Full detail is in our P11D and tax guide.
How Can I Reduce the Costs of Small Business Health Insurance?
* Shop around – use a proper broker who can assess the panel of leading UK insurers for you. Some of the best deals are often only available via a broker. Consider switching Insurer at renewal, as SME (Small and Medium) health policies can change wildly in price year to year.
* Consider reducing your benefit – do you use, or are you likely to use all the cover you pay for? Sometimes reducing the outpatient cover or switching to a more limited hospital list can save a small fortune and still leave the insurance plenty usable.
* Increase your excess – bit of an obvious one, but like all insurance products increasing your excess will reduce the initial cost but be mindful of what this could cost your employees if they all start needing to claim.
* Change your underwriting method – this needs experience gloves, as one wrong move could invalidate any future claim. You need to carefully assess the medical and claims history of your staff, and if a switch to a typically cheaper method (like a moratorium) would be the right move. Any regular treatment such as medication to control a condition could well invalidate future cover for that condition.
Do I have to offer health insurance to my employees?
No. UK employers are not legally required to offer private health insurance. Many choose to because it helps with recruitment and retention, gets staff treated faster, and the premiums are a deductible business expense.
What does small business health insurance not cover?
Group cover focuses on the diagnosis and treatment of new, acute conditions. It does not usually cover pre-existing conditions (unless you choose MHD), chronic condition management, emergencies, or routine dental and optical unless added as extras. See the ‘What it covers’ section above for the full picture.
Book a free no obligation call with Matt Hall, MyHealthPal’s SME Director, to get a panel of leading UK insurers comparison and a recommendation tailored to your team size and budget.