Why new business owners should consider Private Health Insurance
“Health care is the No. 1 concern of small businesses and the status quo is untenable.” – Karen Mills
One of the greatest challenges many people starting up in business fail to realise, is the tremendous value of their greatest asset … themselves!
Most people setting up a business wouldn’t dream of not purchasing the ‘compliance insurances’ – public liability insurance; buildings insurance; assets; vehicles etc. Yet their greatest asset – themselves – is often left to the mercy of the NHS.
The NHS does an amazing job given its circumstances; yet is plagued with five basic challenges:
- Ageing population
- Increase in chronic disease & obesity
- Government cuts
- Bad management
- Medical negligence claims
Because of these factors, it is widely accepted that the NHS is rapidly becoming unsustainable. So, is it worth transferring the risk from the NHS to a private health insurance company?
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If you are contemplating setting up a business, you will come to realise in time – and you should from the outset – that YOU are your business’ greatest asset. As such, and for the sake of your business and those who depend on you, you need to protect yourself by minimising the risk to your health and speeding up any necessary treatments needed in the best possible environment.
Benefits provided by private health insurance
Here are a few of the benefits of a private health insurance scheme:
- As a business owner, it puts you in control of your healthcare – not a waiting list monitored by government cuts
- Reduces worry and stress waiting for long appointment/operation times
- Provides you with the freedom to choose who treats you, when and where.
- Offers peace of mind for you and your employees.
- Gets you and your employees back to work quickly.
- Increases productivity.
- Increases employee engagement and security.
- Enhances recruitment and retention.
- Can contribute to Optical/Dental/Therapy costs thereby reducing the overall cost of your healthcare policy
Once you have decided to take the step to secure private health insurance, make sure the company has an excellent reputation in the medical field. Check that it does not hide real costs with high ‘no claims discounts’ and can be personally referred to by other business owners with experience of claiming.
Unlike other insurance where you are protecting material assets, private health insurance is rather different. As the man with the Big Red Book used to say: “This is Your Life!”
A strong business needs a strong leader. Run your business well, and seek a market leading solution to insure any health issue is dealt with as quickly as possible.