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Group Health Insurance

5 or more employees

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 their workforce’s private healthcare, such as surgery, diagnostic testing, and medical treatments.

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 attractive 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 Insurance

Group Health plans typically cover:

  • Private hospital surgical procedures and operations and in-hospital nursing care
  • Cancer surgeries and treatment (chemotherapy, radiotherapy and brachytherapy)
  • Consultations with a specialist
  • Diagnostic imaging (such as x-ray, ultrasound, ct-scan, MRI-scan )
  • Psychiatrist consultations and mental health assistance

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.

Key points

  • 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 & mental health in the workplace

As the importance of mental health in the workplace becomes better understood, companies will discover that providing their employees with access to a group health insurance plan positively impacts morale and productivity.

Registered psychologist and psychiatrist consultations are a benefit provided by some workplace health insurance policies.

Counseling and Coaching

Group health plans often cover mental health services like Psychiatrist appointments and therapy. Providing a channel via which workers can speak with trained mental health specialists has the potential to prevent the occurrence of mental health disorders and to enhance treatment for those who already suffer from them.

Why choose LifeCovered for your small business health insurance?

As independent health insurance brokers, our primary goal is to help companies figure out what they need and find the best options on the NZ health insurance market.

Since we’re not tied to any one insurance provider, we can offer you objective guidance while searching for the most comprehensive, tailor-made policy at the most reasonable cost. Apart from this, there are other advantages to working with us:

1.

There are no extra charges beyond the cost of your insurance to work with us.

2.

We’ll work with you to develop a group health insurance plan that’s tailor-made for your business.

3.

We’re here for you and your group to assist whenever you need us.

Request a group health insurance quote?

Willi-Financial-Advisor

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:

  • Accuro
  • Southern Cross
  • nib

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.

FAQs

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.