What are the options for business health plans?

When it comes to choosing the right business health plan, you have plenty of options to consider. There are a total of 35 registered health funds in Australia and each offers a huge range of choices.

Employers will need to take a number of factors into consideration - including the value of any subsidy they intend to provide and the resources that will be needed to implement, review and manage the corporate health insurance plan.

It is also important to take into account whether the cover will apply to all staff members or only those who meet selected criteria, as well as the level of support, service and care that will be offered by the business health insurance plan.

Smaller firms will have their own health insurance needs and are also likely to face cost issues, which could impact the type of cover they choose.

You will also want to think about which plans will be most appealing to your employees. For example, the advantages of employer-subsidised schemes—where the employer pays all or a portion of their staff's health insurance premiums—should be weighed up against the benefits of unsubsidised insurance plans.

With so many choices on the table, choosing the right business health insurance cover may seem overwhelming.

HICA's experienced team can help you develop a selection of corporate health insurance options for your staff to choose from, or we can consult with each of your employees to make a personal health insurance recommendation.