Company

Why you need to provide Company Health Insurance to your Employees

The productivity of your employees depends on among other things, their emotional and physical health. For this reason therefore, it is important that you as an employer guarantee your employees safety and health. One of the best ways to do this is by providing good company health insurance. A company health insurance is basically a type of insurance cover provided or otherwise sponsored by a company for which an individual is working for. Basically, the employer provides a platform through which his employees pool risks together for lower premiums. Several companies in the UK provide their employees with company health insurance.

Providing company health insurance can be quite beneficial for both the employee and employer. With the employee, the greatest benefit of company health insurance is that your employer will be paying the large share of your premium for you to get covered. Secondly, company health insurance is one of the surest ways to save money.

The company also benefits by providing its employees with health insurance in several ways. Firstly, by providing insurance, the company will be directly and indirectly saving money for its employees, which in turn translates to the company saving money for itself. How? For instance, in the occasion that an employee falls sick or is injured, the insurance will then cover for the cost for various medical expenses that such an employee will need and this way, the company does not have to cater for the same as opposed to when a company does not provide insurance.

Another benefit for companies to provide their employees with company health insurance is that, the company gets some percentage of the premiums it pays for the insurance from the employees' paychecks. What this means is that, the company does not solely provide for the insurance on its own, rather, the employees make some contributions towards getting cover.

©Health Care Medical Insurance 2017.