How much will a business health insurance scheme cost per employee?

I’m in the HR department of my company and we’re considering introducing a company medical insurance plan. Before I started looking, I wanted to get an idea of how much corporate health insurance costs per employee? We’d ideally like to cover everyone within the company, but it would be a good idea to know the cost of providing Group PMI before I start.

Question asked by Eleanor Laurie
Compare Top 10 UK Insurers
FREE Independent & Impartial Advice
Type of Cover
Company Name
 
Number of Employees

Answered by Andrew Jenkinson

This is a very common question and one that unfortunately does not have a straight forward answer.

How much does company private medical insurance cost per employee?

Many companies look to business health insurance to provide employees with a means of receiving prompt high quality treatment for acute medical conditions  thus ensuring their employees can receive the care they require when the need it most and get back on their feet and back to work as quickly as possible.

Business Health Insurance schemes are very similar to Private Medical Insurance paid for by individuals, with the main difference being that it’s paid for by the company instead of individually.

We’ve provided a guide on how much PMI costs for individuals that might be useful for you to look at, although nothing beats talking with one of our expert employee benefits consults.

What influences the cost of PMI?

It’s important to realise that Company Health Insurance schemes can vary wildly in the level of cover they provide.

A very basic plan may only cover treatment for more serious illness where a stay in hospital is required, a mid range plan in addition may provide a limited amount of outpatient treatment where a truly comprehensive plan will cover both inpatient and outpatient treatment in full.

What does group medical insurance cost?

Other factors include setting an excess, including a 6 week NHS wait option or choosing whether or not you want additional cover, such as psychiatric cover. These can all influence the cost of a policy.

Fortunately, the experts here at Drewberry are trained to take all of this into account and can provide you with advice to help you find Corporate Medical Insurance with a level of cover and a cost per employee you’re happy with.

group insurance
 
employee benefits
 
business health insurance
 
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
Compare Top 10 UK Business Insurers
Need help? 
Call us on 
 -
 Our in-house Experts are here to provide
 FREE impartial advice!

Frequently Asked Employee Benefits Questions

 
I’m considering rolling out Group Critical Illness Cover for my employees across the company....
 
I am researching shareholder protection and wanted to know the purpose of the...
 
We are looking to take out health insurance for our employees but are unsure on if an insurer will provide...
 
We are a rapidly expanding business and wanted to know whether we are limited in the amount of key person...
Need Help? Live chat now and get an instant answer from our Experts...

Neil
Pensions

Victoria
Insurance
Our Latest Reviews
Risheka Walls
26/07/2017

Victoria had excellent on the spot knowledge and vast experience in my line of work. Even where she didn't know, she was able and willing to promptly clarify with colleagues and insurers.

Sian Morrison
24/07/2017

Steffan is a credit to Drewberry. He's knowledgeable, helpful and efficient. I would highly recommend his excellent quality of service. Thank you.

Paula McClean
28/07/2017

Sam Carr was very thorough in explaining everything to me and did it in a way that I could understand and make the right decision for myself.

We are rated 4.9/5 based on 1129 independent client reviews.
To read more of our independent client reviews click here →
REVIEWS
EXCELLENT
4.92 / 5 Average
1,172 Reviews
D
Overall Rating
Jake was very knowledgeable and took as much time as I needed to ensure that I understood my options in sufficient detail. I did not feel rushed at all when considering Accident and Sickness insurance. Excellent customer service and thoroughly professional in all aspects. I have no hesitation in recommending Drewberry Insurance and in particular Jake Beal.
S
Overall Rating
Steffan Alemanno From Dreberry went that extra mile to help me out in what I needed .Very much appreciated . 5 stars
J
Overall Rating
Quick and promt
J Taylor
Overall Rating
Straight forward efficient service
A Barry
Overall Rating
Sam Barr-Worsfold dealt with setting up my insurance and the service was excellent. He was friendly and spent a lot of time explaining the various policies and answering my many questions, much appreciated. Also the chap who went through the application with me was great too -very helpful and friendly (sorry I have forgotten his name). I would definitely recommend your services.