Company health insurance

What is company health insurance?

Company health insurance, also called group health insurance, enables small to large businesses to provide private medical benefits to their employees.

Health insurers typically require that businesses enrol at least five full-time staff members to qualify for group health insurance.

How does group health insurance benefit your business?

Offering group health insurance is not just a perk for your employees, it’s a strategic investment in the future of your business. Company health insurance also acts as an efficiency incentive for both employer and employee, working in a mutually productive way.

Here’s how providing employee insurance benefits can significantly strengthen your company:

Improved employee retention

Prioritising employee wellbeing helps build trust and loyalty. Employees who feel valued are less likely to resign, saving your business the costs of productivity loss, recruitment, and staff training.

Enhanced company reputation

In today’s competitive job market, top talent is drawn to businesses that offer strong employment packages. A well-regarded benefits programme, including comprehensive health insurance, can position your company as an employer of choice, helping you attract and retain the best candidates.

Increased productivity

Healthy employees are productive employees. Group medical insurance provides your staff quick access to quality healthcare, reducing time off work due to illness. Many company insurance plans also include preventive care, helping employees stay well and avoid serious health issues that could lead to long-term absences.

How does group health insurance help your employees?

Providing your employees with private health insurance can significantly enhance their quality of life, professionally and personally. Here’s how offering insurance through your company can make a real difference to your valuable staff and their families:

Reduced out-of-pocket costs

With a group health plan, many medical expenses are covered, meaning your employees pay less - sometimes nothing at all - when they need healthcare. Some group health insurance plans in New Zealand cover up to 100% of costs for certain treatments - a great boon to employees when times are tough.

Financial security

For many employees, a single unexpected medical expense can lead to financial hardship. By meeting a significant portion of their healthcare costs, group health insurance provides a safety net that protects your employees from the financial strain of accessing medical care and taking time off work to recover.

Peace of mind

One of the most positive benefits of group health insurance is peace of mind, allowing employees to feel secure in the knowledge that they’ll be covered in the event of a critical illness or injury and endure much shorter wait times. This security is especially important for those with families, as some plans also cover loved ones.

Comprehensive cover

Company health insurance provides your employees with excellent benefits. These can include covering the costs of major diagnostic tests, in-patient care in private hospitals, surgeries, and non-surgical cancer treatments, like radiotherapy or chemotherapy.

Customisation options

Businesses can tailor health insurance plans to meet the specific needs of their employees. This could include adding cover for dental, optical, GP visits, nurse visits, and adjunct services, such as physiotherapy, chiropractic, osteopathic, and complementary medicine.

What do employee health insurance plans cover?

Depending on your chosen insurer and plan, group insurance can cover:

Why trust Policywise as your company's health insurance broker?

Choosing the right group health insurance for your company is important, and working with Policywise can make all the difference. Here’s why partnering with us can simplify company health insurance selection for you:

Expert guidance and tailored solutions

Policywise provides expert advice specific to your business needs. Unlike dealing directly with insurers, we offer comprehensive market knowledge, comparing multiple options to secure the best cover at competitive rates.

Time and cost efficiency

Navigating group health insurance can be time-consuming and overwhelming. Policywise simplifies this by researching, comparing, and negotiating with insurers to get you the best deal, saving you time and securing the most value for your investment.

Ongoing support and advocacy

Policywise helps you find the right group health insurance product and provides ongoing support throughout the life of your policy. From handling claims to making adjustments as your business grows, Policywise advocates on your behalf.

Why trust Policywise?

Policywise is licensed by the Financial Markets Authority (FSP715811) and operates with the highest standards of professionalism and integrity.

With a strong track record of helping New Zealand businesses secure the best employee insurance cover, Policywise has earned a reputation for reliability and excellence. With their experience, your company’s group health insurance is in capable hands.