A corporate health insurance policy can be a welcome addition to any employee benefits program. Not only does it show your employees that you’re thinking about their health, it also provides you with the peace of mind of knowing that your workforce is healthy.
Sick days cost Australian businesses billions of dollars each year, which is why ensuring you have a fit and healthy workforce is paramount for your business’s success.
How does it work?
When looking for a corporate health insurance policy, you’ll generally be greeted with three options:
- Subsidised cover. Your company covers the cost of the policy for your employees.
- Partially subsidised cover. Your company will pay part of the cost of cover for your employees.
- Voluntary cover. These policies allow you to negotiate an insurance package on behalf of your employees.
Once you’ve chosen your policy, your employees will be able to claim for a host of hospital and extras benefits.
How can your business benefit?
Not only will your business benefit from knowing that it’s employees will be living healthier lives, but it will also benefit from:
- A reduction in absenteeism
- Boosted productivity
- Improved employee retention
- A bump in business productivity
Many business owners assume that corporate health insurance policies are only for larger companies. However, you can take our a corporate policy no matter the size of your business, be it an SME (small to medium-sized enterprise) or a multi-national.
How can your staff benefit?
Once you’ve got your corporate health plan in place, your employees can claim for a range of services including hospital, optical and dental services.
But the benefits of a corporate health insurance policy go further than that. Depending on the fund you choose, your employees can enjoy:
- Discounted insurance. Not only will your employees not have to worry about the cost of their health insurance, but they maybe able to score a discount on other forms of insurance. As many insurers have diversified offerings, a lot of brands offer multi-policy discounts.
- Member benefits. Most of the larger health funds have benefit programs, which provide members with access to a range of extra goodies such as discounted movie tickets and gym memberships.
- More than just insurance. Many corporate health insurance plans offer cover for more than just health insurance. These plans often include wellness benefits such as stress and disease management programs.
- Cover for the family. Depending on the policy, your employees’ families may be eligible to be insured as well.
- Simplified claims process. Since these policies are designed for your business and its employees, funds such as HCF will provide you with a dedicated website just for your business.
No matter which fund you go with, taking out a corporate health insurance policy can provide your staff with the support it needs to maintain a healthy lifestyle and remain productive.