Personal Health Care Management

Business Medical Insurance

Compare & save on Business Medical Insurance

Private medical insurance providing fast diagnostics and treatment to your employees, allowing them to get back to work as soon as possible.

Business Medical Insurance

Helping employees resolve their health issues quicker.

We compare all UK healthcare insurance providers

What is Business Medical Insurance cover?

Business Medical Insurance is a group policy taken out by an employer. It offers employees private consultations, diagnostics, treatment and rehabilitation. This type of cover grants access to private healthcare where a large portion of the cost is paid by the insurer, allowing employees to bypass lengthy NHS waiting lists for eligible conditions, getting them back on their feet and in work again quicker.

It providers cover for day and inpatient investigations as well as treatment in full as standard.
Based on the level of cover that the employer chooses, there will usually be cover for outpatient consultations and care. All policies include a Digital GP which will allow employees to have a video or telephone call with a GP usually within 48 hours.

How does Business Medical Insurance work?

Your business will have one policy which will be used to cover everyone. You will decide what the eligibility criteria will be within your employee benefits package, just as you would for all other benefit, ensuring the decision isn’t made on any discriminatory grounds.

By spreading the risk across a group, the cost of premiums is generally lower than that of individual policies.

When an employee is diagnosed with an illness or medical condition, and has a referral from a GP, they will have the option to seek private treatment. They will still be able to use the NHS as this type of cover doesn’t replace the NHS.

If the medical condition is covered within the policy, a claim authorisation can be obtained which will then be used when booking an appointment. The employee may be required to pay an excess while the insurer pays for the cost of treatment.

The amount of excess and total cost of treatment covered depends on the level of cover on the policy.

We have access to all private medical insurers in the UK

Our unbiased and independent advice, we can help you find the best policy solutions.

What are the employee benefits of Business Medical Insurance?

Business medical insurance is the second highest sought after benefit in 2021 according to a survey of SME employees.

It provides employees of the business with access to high standards of healthcare for a wide range of illnesses and conditions, including mental health and musculoskeletal conditions.

One of the biggest benefits is the shortened waiting times for treatment as not everyone can afford private care meaning the numbers in the queue are far less than those waiting with the NHS. Private care also generally has more accessible hours meaning you may not need to be absent from work to attend an appointment.

Policies can cover employees family members for an extra cost.

Here are some of the additional benefits:

  • 24 hour GP or nurse practitioner phone line.
  • Better healthcare can help improve wellbeing among your team.
  • You can attract and retain the best people with an appealing benefits package.
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Employers usually pay for employees’ Private Medical Insurance from pre-tax earnings, as such HMRC typically treats premiums as a business expense.

For employees, Business Medical Insurance is a P11D taxable benefit in kind, so they would pay additional tax on this cover.

As an employer, tax rules require you to fill out a P11D form declaring that you’ve provided employees with a benefit in kind. You will also need to pay employer’s National Insurance on the premiums as well.

Generally, pre-existing conditions would not be covered as the most common types of underwriting exclude them from cover.

Medical History Disregarded is a type of underwriting which would allow members to claim for pre-existing conditions – this type of underwriting is most common for groups of over 250 people,

To understand whether you would be covered, give us a call today so we can talk you through the different options.

In short, yes. The number of employees included in a policy firstly determines the number of eligible insurers who can provide a quote. Secondly, it impacts the premium per person.

There are some insurers who can provide cover for a group of 3 or less, however for a group of 4 and above, a full market review should be available.

Some insurers will allow you to structure the policy by splitting the level of cover.

If your employee benefits scheme rewards staff based on their length of service or position within the business, you can set different levels of cover within a policy.

For example; a comprehensive level of cover for employees within management, and a standard level of cover for all other employees.

There are 3 different types of coverage for Personal Medical Insurance. Full Medical Insurance, Diagnosis Policy and Treatment & Care Policies.

To find out more, click onto the links, alternatively, give us a call on 01829 781 920 and one of our Agents can talk you through the options.

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We review and compare all policy providers and have extensive experience and market knowledge allowing us to give you the best advice. We have processed over 5,000 claims and have helped 650+ businesses switch to better providers saving them time and money.

Business Medical Insurance for Large corporates

Employee’s working for a large corporate business would somewhat expect there to be a good employee benefits package with private medical insurance included.

Cover is underwritten on a ‘Medical History Disregarded’ basis meaning; employees can claim for pre existing medical conditions.

High level employees view this type of cover as standard and expect cover to be included for their families.

Staff absenteeism can cause major issues for any size company and this policy will allow staff to obtain quicker diagnosis and treatment.

How much does Business medical insurance cost?

There are 5 main factors that determine the cost of this type of policy:

  • The size of the company
  • The age of each employee
  • Your location
  • Your underwriting
  • The level of cover you choose

Here are some examples of the average cost per employee based on the total number of employees. We have selected some conditions:

    There is a £1,000 outpatient cap with an excess on the policy of £100. The company has chosen a mid-tier list of hospitals

  • 10 Employees = £54.54 per month
  • 50 Employees = £35.36 per month
  • 100 Employees = £28.79 per month

What are the different medical underwriting options?

The underwriting option you choose impacts what will be covered in the policy for your staff as well as the premiums.

There are 3 main options to choose from:

  • Full Medical Underwriting (FMU)
    FMU will require employees to disclose their medical history. It is likely that the insurer will exclude any pre-existing conditions, but employees will know what exclusions will be in place, from the start of the policy.This option is usually the cheapest option as it excludes pre-existing conditions, however requires a lot of information and can be time consuming, depending on the number of staff required to disclose their records.
  • Moratorium Underwriting
    This type of underwriting requires less initial information however does exclude medical conditions that have occurred or the employee has suffered from in the past 5 years.Employees aren’t required to disclose their medical history upfront, this will be required by the insurer at the claims stage.
  • Medical History Disregarded (MHD)
    MHD underwriting is the best underwriting available. It ignores all pre-existing conditions allowing employees to claim for any eligible condition under the policy terms.As it is the most accepting, it is also the most expensive type of medical underwriting. It is important to know that MHD is ONLY available to large companies with at least 20-25 staff.

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We have been working hard on presenting our customers with the best policies from the best providers to fit their business healthcare needs, to create desirable and fit for purpose employee benefits packages.


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