Group health insurance that does what your team actually needs.

For most organisations, the answer is yes. Regardless of the size or industry of your business, providing comprehensive health insurance can offer valuable benefits to both you and your employees. Supporting employee wellbeing is more important than ever. By offering health and wellness benefits, you can help improve employee satisfaction and productivity, while potentially reducing absenteeism and staff turnover. Employee benefits are also becoming an increasingly important factor when people consider accepting a new role. For many employees, health insurance is one of the most valued benefits outside of salary. Offering it as part of your package can therefore help you attract and retain talented employees. By investing in your employees’ health and wellbeing, you can create a healthier, more engaged workforce while strengthening your business’s ability to attract and retain the people it needs to succeed.

The right health insurance plan for your business will depend on your organisation’s requirements, your employees’ needs and your budget. There’s no one-size-fits-all solution, so it’s important to find a plan that works for your unique circumstances. With premiums, plan availability and benefits constantly changing in the Irish market, choosing the right option can be complex. With more than 320 health insurance policy options available, comparing plans and identifying the best fit for your workforce and budget can be both time-consuming and challenging. At BDS Financial, we’re here to take the stress out of finding the right plan. We work closely with you to understand your employees’ needs, budget and preferences, then compare the plans available on the market to help you find the right solution for your business.

Before putting a corporate health insurance scheme in place, it’s important to consider what will work best for your business and employees. Start by asking your key internal stakeholders the following questions: Do we want to offer employees one fixed plan, or give them a choice of pre-selected plans? How long should the initial enrolment period be, and how long should new employees wait before joining the scheme? Do we want to offer health insurance, dental cover, or both? Should employees have the option to extend their cover to their immediate family? Once you’ve agreed on these key details, you’ll have a clearer understanding of what you need from your health insurance scheme. You can then start exploring the policies available to find the option that best suits your business, budget and employees.

The cost of corporate health insurance will depend on factors such as your chosen level of cover, the size of your workforce and how you structure the scheme. While it can represent an additional cost for your business, the potential benefits — including improved employee wellbeing, greater staff retention and reduced absenteeism — can make it a valuable investment. There are three main ways you can offer health insurance to your employees, meaning there’s an option to suit different budgets. Company Paid: your business covers the full cost of your employees’ health insurance as part of their employment benefits. Many insurers offer preferential rates for corporate schemes. Partially Company Paid: you can choose to share the cost of health insurance with your employees. Employees will generally need to opt in, while your organisation contributes towards the cost. Preferential corporate rates may also be available. Advice Only: you can arrange a health insurance package that employees can choose to join and pay for themselves. Your employees may also benefit from a discretionary discount, giving them access to more competitively priced cover without your organisation having to contribute towards the cost.

With so many health insurance plans available, we recommend reviewing your scheme every year to make sure you still have the right level of cover for your employees’ needs and your business. As health insurance premiums can increase year-on-year, older policies may end up costing more than comparable plans available on the market. Even if your existing policy still meets your employees’ needs, reviewing your options at renewal could help you identify potential savings. It’s also worth being cautious about simply allowing your policy to auto-renew each year. Taking the time to review your options before renewal can help you avoid unnecessary cost increases and ensure your cover remains competitive.