Corporate health insurance in Australia

• How do I choose a corporate health insurance plan

  Choosing the right corporate health plan can be hard for an employer. There are many options offered by several funds, and you'll need to decide whether to fund the plan yourself, share funding with your employees or let them pay for it all. The main factor to consider include:

  • The number of employees you have.
  • How willing they will be to participate.
  • Whether the plan is a true incentive to work for you.
  • Whether you have the time, money and resources to manage the policy if you choose to fund it yourself.

  Most insurers that offer corporate health plans have whole teams dedicated to implementing and running them, including educating employees and organising health and wellbeing programs. If you don't have a lot of resources to throw at it yourself, a managed plan may be more beneficial. If you're still unsure, the best bet may be to get in touch with a health fund using one of the links in the table on this page, and having a chat.

• Can a small businesses take out corporate policies?

  Some small businesses shy away from corporate health plans, believing them to be only for large companies with a lot of employees. A corporate health plan can, in fact, benefit a business of any size due to the fact that it can be tailored to fit the available budget, the number of employees and the preferred type of funding.

  If an employer is time poor, the administration can be taken care of by a broker, whose can help you by:

  • Finding the right plan that fits the businesses requirements.
  • Educating both employer and employees on its workings.
  • Providing an ongoing point of contact for advice and assistance and reducing costs.
  • Minimising risks and increasing the quality of the cover over time.

• Are there other methods of improving employee health?

  As well as providing affordable health insurance through a corporate health plan, employers can improve workplace health in a number of other ways including:

  • Identifying and eliminating sources of workplace stress such as harassment and bullying.
  • Improving the workplace environment by upgrading things like lighting and ergonomics and providing relaxation areas for breaks.
  • Recognising and rewarding good work and providing opportunities for advancement.
  • Creating a better work/life balance by providing more flexible hours or the option to work from home.
  • Choosing a corporate health plan that offers free or discounted access to health and wellbeing services and programs or initiating your own program for employees.

• Do you qualify for a corporate discount?

  Many people mistakenly believe that they wouldn't qualify for a corporate discount on health insurance, when in fact there are a number of ways you can receive a discounted health plan. These include:

  • Through your employer and in some cases a previous employer
  • Through your super fund
  • Through an association or a club you belong to
  • Through your mutual bank or credit union

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