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Small Business Health Insurance

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What is Small Business Health Insurance?

Small business health insurance can be used to cover employees and employers of small companies (typically fewer than 50 people). Health plans for business are designed to provide medical coverage to business owners and their staff. Small business health insurance is an effective way to support your employees’ health needs while managing costs for your business.

Private health insurance plays a crucial role in providing healthcare for employees of small businesses. There are various options for small business health insurance available in the UK market. Each one has different levels of cover and treatment access.

We know how important it is to find customised business health insurance to suit your employees and your company budget. As a specialist broker, we can help you find the best health insurance for business owners at the best rates.

Our team can help you find small business health plans from companies such as Bupa, AXA Health, Aviva, Vitality, and Freedom Health Insurance. 

Small Business Health Insurance UK

Key Person Insurance is a vital form of business protection. It ensures your company remains financially secure if a team member unexpectedly dies or becomes critically ill. Your company can safeguard against the sudden loss of a key contributor, navigate challenging transitions smoothly and protect future growth with the help of Key Person Insurance.

You may also wish to take out relevant life Insurance for your employees. If an employee or director dies or develops a terminal illness, the insurance will pay out a lump sum to their beneficiary.

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What are the Benefits of Small Business Health Insurance?

Both small business health insurance and self-employed business health insurance offer medical coverage. However, they are tailored to different situations: one for business owners with employees, and the other for individuals running their own business.

Small business health plans are designed for business owners who have a small team, typically with fewer than 50 employees. These health plans for small business owners provide health coverage to both you as the business owner and the employees.

Self-employed business health insurance is aimed at individuals who are self-employed or work as freelancers and don’t have any employees. These plans cover the individual business owner only.

Top Insurers for Health Insurance for Small Businesses

Among the top insurers providing coverage options for small business owners, Bupa, AXA Health, Aviva, Vitality, and Freedom Health Insurance stand out as reputable providers. These insurers offer private health insurance plans specifically tailored for small business owners, providing them with access to a range of healthcare services and benefits.

Bupa logo featuring a heartbeat line, representing a leading private health insurance provider for small business owners.

https://www.bupa.co.uk/

  • Overview: Bupa is a well-known private health insurance provider with a global presence.
  • Coverage: Offers a range of health insurance plans, including individual, family, and corporate plans.
  • Services: Provides access to a network of private hospitals, specialists, and medical facilities.
  • Benefits: Offers various benefits such as fast access to treatments, specialized consultations, and wellness programs.
  • Additional Services: May include add-ons like dental and travel insurance.
  • Digital Tools: Provides online platforms for easy policy management and health-related resources.
  • International Coverage: Offers international health insurance plans for individuals and expatriates.
  • Customer Experience: Known for its customer service and support.
AXA Health logo on blue background, representing a prominent health insurance provider offering various plans and services for individuals and businesses.

https://www.axahealth.co.uk/

  • Overview: AXA Health is a prominent health insurance provider in the UK.
  • Plans: Offers a variety of health insurance plans for different needs, including individual, family, and corporate plans.
  • Medical Network: Provides access to a network of hospitals and medical professionals.
  • Wellness Programs: Offers wellness initiatives and resources to promote a healthy lifestyle.
  • Added Benefits: Some plans include added benefits like mental health support and access to virtual GP consultations.
  • Flexibility: Offers customizable plans with optional extras such as dental and travel coverage.
  • Online Services: Provides online tools for managing policies and claims efficiently.
  • Customer Satisfaction: Focuses on customer satisfaction and personalized services.
Aviva logo on a yellow background, representing a leading health insurance provider offering various plans for individual, family, and corporate needs.

https://www.aviva.co.uk/health/health-products/health-insurance/

  • Overview: Aviva is a leading insurance provider offering a range of health insurance solutions.
  • Plan Options: Provides various plans catering to different needs, including individual, family, and corporate plans.
  • Medical Network: Offers access to a network of private medical facilities and specialists.
  • Specialized Care: Some plans include coverage for specialist consultations and treatments.
  • Digital Solutions: Provides online platforms for policy management and accessing health-related resources.
  • Wellness Incentives: Offers incentives for healthy behaviour through wellness programs.
  • Optional Extras: Offers optional add-ons like dental and optical coverage.
  • Customer Support: Emphasizes customer support and ease of claims processing.
Vitality logo emphasizing health insurance and wellness programs for personalized health solutions.

https://www.vitality.co.uk/

  • Overview: Vitality is known for its innovative approach to health insurance with a focus on promoting healthy living.
  • Health and Wellness: Offers plans that encourage healthy behaviours by providing rewards for physical activity and healthy choices.
  • Coverage: Provides coverage for medical treatments, consultations, and hospital stays.
  • Wellness Partners: Partners with various fitness and wellness brands to offer discounts and rewards.
  • App and Tracking: Utilizes a mobile app for tracking activities and earning rewards.
  • Personalized Plans: Tailors plans based on individual health goals and needs.
  • Digital Engagement: Engages members through digital tools and resources.
  • Customer Satisfaction: Offers unique benefits for policyholders who actively engage in wellness activities.
Freedom Health Insurance logo featuring the brand name in bold purple text with a leaf symbol, representing a focus on health and wellness for personalized health insurance plans.

https://www.freedomhealthinsurance.co.uk/

  • Overview: Freedom Health Insurance is a specialized health insurance provider.
  • Plans: Offers a range of health insurance plans for individuals and families.
  • Choice of Hospitals: Allows policyholders to choose from a list of private hospitals and medical facilities.
  • Flexible Options: Provides flexibility in choosing levels of coverage and optional extras.
  • Specialized Cover: Offers specialized cover for specific medical conditions or treatments.
  • Personalized Approach: Focuses on tailoring plans to individual needs.
  • Ease of Claims: Emphasizes a straightforward claims process.
  • Customer Support: Provides customer support for inquiries and policy management.

What does Health Insurance for Small Business Cover ?

Health insurance for small business owners and employees covers a broad range of healthcare services. This includes quick access to medical treatment, such as reduced waiting times for appointments, surgeries, and specialised care.

Small business health insurance plans can also offer access to a wide network of healthcare professionals, including general practitioners, specialists, hospitals, clinics, and mental health professionals.

We can help you find flexible cover options that are tailored to the needs of your company and employees. This may include options for different coverage levels, such as basic, standard, or premium. The small business health plans may also include additional benefits like dental, vision, and mental health care.

How much does Small Business Health Insurance cost?

The cost of small company health insurance depends on the type of health plan for the business, along with various other factors. Most business health insurance considers the current health of employees, their ages and family status. Older employees, along with employees with preexisting health conditions, such as diabetes, will usually have higher premiums. Small business health plans can also vary based on the business underwriting type, such as PMI.

Get a Small Business Health Insurance Quote with My Key Man Insurance

With over 15 years of industry experience, My Key Man Insurance has helped companies from various sectors to protect thousands of employees. As an insurance broker specialist, we can help your company find the best small company health insurance at the lowest prices. You can speak to a member of our friendly team by phoning 02071128844 or emailing info@www.mykeymaninsurance.com. Contact us today for tailored small business health plans for your business!

Factors to Consider When Choosing Private Health Insurance for Your Small Business

One important factor to consider is the extent of cover provided by the plan. You should assess whether the plan covers essential services such as hospital stays, surgeries, and prescription medications.

It’s also helpful to consider the network of hospitals included within the plan to ensure that employees have access locally and don’t have to travel too far for treatment or appointments.

The cost of health plans for small business owners is another important factor to take into account. For this reason, using a broker such as My Key Man Insurance is crucial to gaining access to a variety of providers. It guarantees that you can evaluate multiple offers side by side and select the most advantageous one at the lowest cost. It’s also critical to take the insurance provider’s customer service and administrative requirements into account.

Exploring these alternative options can help small business owners find the right health cover for their employees. Below is a list of the top UK providers and brief outline of what they can offer small business owners. 

How it works

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Rated 4.9/5.0

Diverse group of smiling individuals representing trust and partnership in key person insurance for sole traders.

104+ Reviews

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Excellent service with easy to understand explanations

Jody was very helpful in explaining the options and I thoroughly recommend his company

We received a wonderful service from My Key Man

We received a wonderful service from mykeyman and will be using them again. The service and product knowledge from team is excellent. Everything was made easy to understand. The price was the best we found too.

A great firm that answers questions fast

I had a great time working with My Key Man Insurance when I applied for the different insurances they offer. They were able to answer all of my questions quickly and effectively. I will recommend them to my friends and family.

Excellent service with easy to understand explanations

Jody was very helpful in explaining the options and I thoroughly recommend his company

First Class Service

The standard of service was first class. They kept me up to date with progress on my Relevant Life Policy, followed up promptly following delays caused by my medical practice being slow in compiling reports, and responded instantly and clearly to any questions I had.

We received a wonderful service from My Key Man

We received a wonderful service from mykeyman and will be using them again. The service and product knowledge from team is excellent. Everything was made easy to understand. The price was the best we found too.

Excellent service with easy to understand explanations

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Further Reading

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Wondering how much cover your business needs? Our calculator makes it easy to find the right coverage for your key employees.

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FAQ about Small Business Health Insurance

Is health insurance a business expense?

Yes, small company health insurance is an allowable business expense and therefore tax deductible.

Business health insurance typically doesn’t cover pre-existing conditions or chronic ongoing conditions, such as asthma and diabetes. Emergency care isn’t usually covered either, as most private hospitals don’t have an A&E department.

Some of the insurance companies we work with offer small company health insurance that covers close family members.

Contact us today for small business health plans that are tailored to the unique needs of your business. We can also find your company the best coverage and rates for life insurance and relevant life insurance.