Group Health Insurance
We offer group health Insurance plans tailored to fit your business needs and well-being to promote a healthy, happy and productive workforce.
- Helps you attract and retain the best staff
- Reduced absenteeism1 – increased job satisfaction
- Cover for pre-existing conditions
What is group health insurance?
Group health insurance is a type of health insurance policy typically paid for by businesses to cover the costs of private healthcare diagnostics and treatments for their workforce. It offers a way for businesses to provide access to the benefits associated with private healthcare under a single policy to their employees, and it’s available to companies with five staff and more.
One of the advantages of group health insurance is the lower cost compared to individual private health insurance because the risk is spread across more people.
Depending on the size of the group, employer-funded health insurance can be discounted, and family members can be eligible to join. Usually, the policy owner is an employer, and the beneficiary is the employee and immediate family members if they join.
What are the benefits of group health insurance?
Group health insurance is considered the most appealing work perk that New Zealand businesses can offer employees².
Employees covered by corporate health insurance experience a 54% reduction in wait times for elective surgery compared to individuals without private health insurance.
Here are some of the benefits of group medical insurance for your business.
Group Health plans typically cover:
- Consultations with a specialist
- Diagnostic imaging (such as x-ray, ultrasound, ct-scan, MRI-scan )
- Private hospital surgical procedures and operations and in-hospital nursing care
- Cancer surgeries and treatment (chemotherapy, radiotherapy and brachytherapy)
Benefits for employers
- Medical insurance is a highly valued employee benefit and helps improve employee retention and recruitment.
Employees receive faster and better treatment and, therefore, sooner back to work.
Benefits for employees
- Pre-existing conditions are covered for staff and their partner and children.
- Family members may be included at a discounted rate.
- Claim right away – no wait or stand-downs.
- Mental health service.
- A company health insurance policy helps increase productivity and employee retention
- Automatic acceptance for all staff and no paper application process
- Your staff can claim right away – no stand-downs
- Pre-existing conditions are covered for staff and their family members.
- Claim online via app or portal
- Provide your staff with faster medical treatment and return to work quicker.
- Quick and simple onboarding
Why offer workplace medical insurance?
A competitive employee benefits program is critical in attracting and retaining employees.
One of the main benefits of group health cover is that premiums tend to be cheaper than individual health insurance. That’s because the risk is spread across many people who are at work and healthy.
Another group cover benefit is pre-existing medical conditions can be covered.
Spouses and children may join the group scheme with discounted rates and covered pre-existing medical conditions.
Group Health insurance plans care for your employees' health and business' bottom line.
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Choosing the right medical cover for your business
Your health plan is made to fit your business.
We work with all New Zealand’s top insurance providers as independent insurance experts. There are three major providers of business medical insurance:
- Southern Cross
Each insurer is unique, and which one is best for your company and employees depends on your specific circumstances.
Our job is to ensure you get the best coverage for your company and employees at the best price.
The average group health insurance policy costs a little more than 1% of annual salary expenditure.
Trauma insurance policies will only cover your employees for specific conditions and will then only make a one-off payment. On the other hand, private health insurance covers many conditions and treatments, and your staff can claim multiple times.
You need at least five employees to take out a group health insurance policy, whether you are a company or an organisation. Pre-existing conditions are covered, and your staff can claim right away.
The policy is owned and paid for by the employer, but the beneficiary is the employee.
Employees who leave the business can continue the health cover as a private policy.