What is the minimum number of employees required to set up a company group scheme?
A minimum of 3 employees are required for a company medical insurance scheme. This applies on joining and at renewal.
Do the employees have to choose the same level of cover?
No. Each employee can be given different level of medical insurance cover. Dependants can also chose a different level of cover to the employee, so it´s totally flexible.
What age can child dependants be included on the business health insurance plan?
For new groups and/or new employees, children must be unmarried, living at home and under the age of 21. Once on cover, children can remain on their parents´ policy up to the age of 25 if they are in full time education.
What joining terms does WPA offer?
Full medical underwriting allows us to assess the medical information provided on application forms. As a result we may exclude from cover any current condition or one that is likely to reoccur. Therefore, if your company is taking out medical insurance for the first time, we will ask that all applicants are medically underwritten. If employees already have private medical insurance with another company it may be possible to transfer the current medical underwriting arrangements to WPA.
Can my employees claim for pre-existing conditions?
Cover is not available for pre-existing conditions unless your employee told us about them on their application form and we did not apply any personal medical exclusions.
Are there any qualifying periods?
Qualifying periods apply to the nhs top-up benefits under this plan. Please refer to the policy summary for a detailed list of them.
Can the company pay the premiums and then claim the monies back off the employees?
Premiums can be re-couped but only for ´dependants´ and not the employees themselves.
Are there any tax implications if I purchase this for my employees?
There are tax implications, because medical insurance is classed as a taxable benefit, but the tax deducted is relatively minor. Employees are still likely to benefit from an employee scheme compared to individual cover.
Can we mix and match employees cover with medical insurance and cash plan?
Yes, so long as you have a minimum of 3 employees covered on the Medical Insurance and NHS Top-Up combined.
How does Shared Responsibility work?
Do you offer discounts depending on group size?
Yes, a variety of discounts is available for groups of 15+. The discounts range from 5% to 30%.
If an employee leaves the plan can we get back part of their premium if we paid annually?
If the whole group leaves then no refund is given. If an individual leaves then a pro rata refund will be made for that individual.
My company has over 500 employees, is this health insurance plan suitable for us?