Group Medical, Travel Insurance
What is Group Medical Insurance (GMI)
GMI usually means your employees receive medical attention faster and better then what they would usually get when they go on their own accord. Helping them to get back on their feet earlier reduces days lost to sickness absence. But it also does more for the progress and prosperity of your business. As part of a remuneration package it’s a compelling way to attract and retain the best talent.
- Employees are probably the most important asset a company has, so looking after their health is crucial to your business.
- Group GMI provides a high-value benefit and peace-of-mind to attract and retain experienced employees.
- GMI is normally an allowable business expense for corporation tax purposes under current tax rules.
- Above all, Group GMI can help to reduce the cost of sickness absence.
- Peace of mind – they will not have to wait on the NHS for eligible treatment.
- Employees can choose where and when they are treated to ensure their treatment fits in with home and business schedules.
- Own private room in most cases.
- Visiting times to suit them.
- Cover can often be extended to their family as well (either company paid or on a voluntary basis).
Five Good Reasons to Have GMI
- Can help manage the cost of short-term sickness absence and other impacts on business and provides treatment to employees so they can return to work as quickly as possible.
- Can serve as an excellent recruitment, motivation and retention tool.
- Provides a high-value benefit and peace-of-mind to attract and retain experienced employees.
- You may be perceived as a caring employer.
- Helps towards satisfying your responsibilities as an employer.
Some Common Misconceptions with Private Medical Insurance
#1: Private health cover is for larger companies – not smaller ones.”
Not at all. The market offers private health cover for companies of all sizes, from 2 employees up to larger corporate schemes. And remember, the smaller the company, potentially the greater the impact of sickness absence.
#2: “My company can’t afford private health cover.”
We research the private health insurance market to offer flexible private health cover to suit all budgets. And don’t forget, getting private health cover through the company could provide you with significant savings compared to rates for individual health cover.
#3: “There’s loads of admin involved in making a claim.”
Most of the claims are paid directly to the service provider so valuable work time therefore is not wasted on unnecessary paperwork.
Trust the professionals at ARIS to assist you with your Medical Insurance.