Group Health Insurance is considered one of the most desirable employee benefits offered by employers. Individuals with private Health Insurance are more likely to be treated and return to work up to three months faster than those without access to private treatment. For the employer, the benefits may also include a reduction in sick leave or staff being away for longer than necessary because they cannot get timely treatment.
There are a number of benefits to implementing a Group insurance contract, including:
- Group contracts can provide access to lower premium rates than those that are available through an individual policy. This allows employees the opportunity of reducing or cancelling any existing individual insurances they already have, which become unnecessary.
- Group contracts can provide cover for any pre-existing medical conditions employees may have if certain criteria is met. These would normally be excluded under an individual private membership.
- Group contracts can allow for immediate family members to access the same concessionary terms, including if applicable, cover for pre-existing conditions and lower premium terms and individual policies.
- Their establishment assists with staff recruitment, retention and reflects the overall people philosophy of a company.
- Employees who leave the company can take a continuation option and retain their cover without any restriction on medical conditions.
It is clear to see the fantastic benefits available by implementing a Group medical policy, so whether you’re a company with 5 or 500 employees please contact us to find out more.