GROUP HEALTH INSURANCE

Many businesses have endured hard times recently with this impacting on staff remuneration and packages.

A good mechanism to provide employees with an improved package is by way of group health insurance products.

Many employers see group health schemes as only beneficial to the employee, where in fact many of the benefits actually benefit the employer.

These benefits include:

·        Positive message to staff that they are valued and that you do care about their health.

·        Reduced Absenteeism by employees having improved access to quality health care, can speed up an employees return to work.

·        Better Productivity as an employee sitting on a public waiting list for treatment can experience higher levels of stress and are less likely to be as productive at work while waiting for treatment.

·        Minimising Disruption, by employees being able to elect when to have some surgeries, this can be arranged to co-inside with the best time for both the company and the employee.

·        Affordable Health Insurance by purchasing as a group you get reduced premium costs.

·        Insurability through group schemes (depending on numbers) can mean reduced or no underwriting allowing for pre-existing conditions to be covered and giving employees with pre-existing conditions or older staff the ability to obtain insurance.

·        Family Cover can be added at the employee’s cost with the same benefits received by being part of a group.

·        Employee loyalty through joining a scheme employees need to be employed by the company for two years after joining to enable them to continue the same benefits should they leave the company and wish to take over their insurance.

For further information on implementing a group health scheme email your contact details to cheryl.newcombe@icfrith.co.nz who will contact you to discuss further.