Helpful Info / For Employers

For Employers

Whether you’re looking at corporate health insurance for the first time, or want to make sure you’re getting the best value for money from your existing plan, HCC.ie is here to help you make the right choice for your business.

 

Should I offer health insurance to my employees? 

The answer is nearly always yes. Regardless of your organisation’s size, industry or budget, providing your workforce with comprehensive health insurance can deliver several benefits to both your business and your employees.

 

Supporting employee wellbeing is becoming more important than ever. Not only can this help boost productivity and employee satisfaction, but offering health and wellness benefits can also reduce absenteeism and staff turnover. 

 

Employee benefits are an increasingly important consideration when accepting or rejecting a job offer and, for many, health insurance is one of the most important non-remunerative benefits when looking for a new role. So, you can keep your employees happy and healthy, while attracting new talent to the business. 

 

How can I find the right plan? 

The plan that works for your business will very much depend on your organisation’s requirements, employee needs, and budget – it’s certainly not a case of ‘one-size-fits-all’. 

 

Insurance premiums, plan availability and specific benefits are constantly changing in the Irish market. Combine this complexity with over 320 health insurance policy options, and finding the right plan for your unique workforce, business and budget can be extremely difficult and time-consuming. 

 

At HCC.ie, we’re on a mission to take the stress out of finding the right plan. Working closely with you to understand your employee needs, budgetary requirements and preferences, our experts compare all plans on the market to find the one that’s right for you. 

 

How do I get started? 

Before putting a corporate health insurance scheme in place, ask your key internal stakeholders the following questions: 

 

  • Do we want to offer employees one fixed plan, or let them choose from a list of pre-selected plans?
  • How long will our employees’ initial enrolment period be and how long should new employees have to wait before joining the scheme?
  • Do we want to offer health coverage only, dental coverage only, or both?
  • Should employees have the option to extend their cover to immediate family? 
 

Once you’ve agreed on the above, you’re ready to start exploring which policy will be most suitable for your business, budget and employees. 

 

How much does corporate health insurance cost? 

Health insurance can seem expensive, but in many cases the benefits will outweigh the financial costs – such as improved employee wellbeing, staff retention, and reduced absenteeism. 

There are three options for offering health insurance to your employees, with a scheme available for every budget:

 

Company Paid: Your organisation pays for your employees’ health cover as a benefit of employment. Most insurance providers offer preferential rates for these schemes.

 

Partially Company Paid: Alternatively, you can share the cost of providing health insurance with the employee. Employees will generally need to opt-in to this type of scheme, and many insurers offer preferential rates.

 

Advice Only: You can also negotiate a health plan package that individuals can choose to join and pay for themselves. This option may also be given a discretionary discount, so the employee is getting the benefit of a more competitively priced plan without your organisation having to pay for it. 

 

How often should I review my health insurance policy? 

With the plethora of health insurance plans available, we recommend reviewing your scheme annually to ensure you have the best plan in place to suit your employees’ needs.

 

Prices are also rising year-on-year, resulting in many legacy policies being charged above the average market rate. So even if your policy is still fit for purpose, you may be able to achieve significant savings by shopping around at renewal. 

Be wary of allowing your policy to auto-renew each year – if you do, you’re likely to see costs rise incrementally over time. 

 

Use the contact form below to submit your details for a discussion with one of our specialist consultant.