Small Business Health Insurance

For a variety of reasons, many small businesses are beginning to purchase business health insurance for the first time

One reason is that it is becoming increasingly difficult for small businesses to attract and retain employees without offering health insurance as a benefit.

Furthermore, small businesses may want to provide health insurance as a way to show their employees that they care about their well-being, and that they are committed to providing them with a comprehensive benefits package. Additionally, offering health insurance to employees helps to create a sense of loyalty and commitment to the organisation.

 

There are several reasons why small businesses in the UK should consider offering health insurance to their employees:

 

  1. Attraction and retention of employees: Health insurance can be a valuable benefit for employees, and can help attract and retain high-quality workers.

 

  1. Improved employee health: By providing health insurance, small businesses can help their employees access necessary medical care, which can improve their overall health and well-being.

 

  1. Increased productivity: Healthy employees are often more productive and able to work more effectively, which can benefit a small business in terms of increased efficiency and improved bottom line.

 

  1. Cost savings: By providing health insurance, small businesses can potentially reduce the cost of absenteeism and presenteeism, as employees are able to access necessary medical care and treatment.

 

  1. Compliance with UK law: By offering health insurance, small businesses can demonstrate their commitment to employee well-being, and can comply with UK law, including the Equality Act 2010 and the Health and Safety at Work Act 1974.

 

Overall, offering health insurance can have numerous benefits for small businesses in the UK, including improved employee health and well-being, increased productivity, cost savings, and compliance with UK law.

 

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The British Insurance Brokers' Association (BIBA) is the UK 's leading general insurance organisation.

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