Health cash plans for small businesses and the self employed
Health cash plans providing cover for small businesses and the self employed are listed on the right. Select a plan to view details of what is offered.
Why buy a health cash plan?
There are many advantages to working for yourself. Record numbers of people are setting up on their own. Most are self-employed individuals, frequently working from home. Others set up partnerships or limited companies to allow several people to work together.
When you work for yourself, all the benefits that a major employer provides vanish. This includes health cash plans for you and your family. Going to the dentist is no longer time out when you are still being paid.
Not only do you have the same expense as an individual, when you are receiving healthcare, you are not earning. So you have double trouble with money to pay out and less money coming in.
The solution
Some insurers allow people leaving a company to continue cover on an individual basis, but you get little choice on cover and price. Some employers are happy to offer continuation options to retired employees, but not to other leavers.
Most but not all insurers accept individual self-employed people on individual health cash plans. Incredibly, there are at present no special covers for the self-employed individual.
An increasing number of insurers offer corporate plans to companies paying for and insuring as few as 3 or 5 individuals. Few have targeted this area; you usually have to delve deep into the small print to find this out.
Cover can include family members. Children are usually included free. The age limit is usually 18, but a few will cover children free up until 25 if they are in full time education. Cover for children is often limited in amounts and benefits.
Several policies have extra benefits to keep you healthy. These may include health screening, health club discounts and a range of helplines.
Self employed cover
This is for self-employed individuals. The policy is in an individual name .It can usually be extended to include partner and children. See
Package products.
Small business cover
This is for people with small and medium sized businesses.
Policies are in the company name.
Cover is for named individuals, and can include their partners of either sex
Corporate Cover
A large number of insurers have standard corporate products. Health cash is commonly a product sold to big employers. In recent years, this has been offered to medium sized companies, often insuring as few as 10 employees. Corporate cover can be complex as there are three main options;
Company paid ; the employer pays all the premium
Voluntary ; the company enables individuals to buy cover by deduction from their wages
Part paid ; where both employer and employee pay a share
For corporate cover we suggest that you use the services of an insurance broker who can negotiate with insurers on your behalf and has access to those insurers who will not deal direct with businesses.
