Many Australian business decision-makers believe that corporate health insurance is expensive – only suited to large businesses with massive cash reserves. Here at HICA we've been helping businesses with their insurance needs for decades and we know for a fact this this isn't true.
Corporate health insurance comes in many shapes and sizes, and can be tailored to your business' unique needs. In fact, the total cost and the level of cover are customisable with the help of an expert insurance advisor.
Tailoring a plan to your business
Companies with less than 20 employees make up 95 per cent of the total number of businesses, research from the Department for Innovation, Industry and Science shows. They contribute 33 per cent of GDP and are Australia's largest employer.
It's these smaller businesses that may hesitate due to their perceptions around the costs of setting up a corporate health insurance plan. We understand the challenges such businesses face, and that's why we work closely with each of our clients to offer plans that suit all their needs and limitations.
Different types of cover for different budgets
If cashflow is an issue, corporate health insurance doesn't have to be off the table.
Small to medium sized businesses in Australia often struggle with cashflow. In fact, failure to manage and anticipate rising costs was named by 61 per cent of businesses as the most likely reason for failure, in a Wolters Kluwer survey.
Even if cashflow is an issue, corporate health insurance doesn't have to be off the table. With the help of an expert, you can easily tailor a plan that fits your budget by only offering insurance to select employees or by offering part cover.
HICA will be there every step of the way to make sure your affordable corporate health insurance plan solves your business' problems, instead of creating more.
Employee retention and productivity
We've covered the benefits of healthier employees before, but it's such a compelling point that it deserves repeat mention. By offering corporate health insurance, you foster a focus on health and wellbeing in the workplace, and make it easier for employees to take care of themselves. In fact, research has shown that the healthiest employees are as much as three times more productive than their less healthy colleagues.
By focusing on health and wellbeing you make the most of a proven link between employee health and productivity, improving the effectiveness and efficiency of your workforce. To find out more about how we can tailor a plan to meet your business's unique needs whatever they may be – get in touch today.