Skilled employees are increasingly looking for a package that goes beyond a basic salary. It could be free food at work, gym or leisure facilities, or a low cost health insurance scheme that avoids those annoying NHS queues. Many companies are starting to realise that offering extra benefits improves retention, and so saves thousands, sometimes tens of thousands, on training and recruitment costs.
A leading Suffolk-based digital insurance broker is introducing a health and wellbeing package to support SMEs.
Now available, Equipsme is the latest addition to PolicyBee’s range of products designed to make insurance as a painless as possible for small businesses.
Designed to be affordable and easy to understand, Equipsme provides businesses with 2 to 249 employees a flexible and cost-effective way of providing health and wellbeing support for their employees. Later in 2019, it will also be available to sole traders.
Employers can provide cover that includes a range of services such as 24/7 GP access, physiotherapy, personalised health checks, diagnosis treatment and stress support.
PolicyBee’s Head of Marketing Dominique Fell-Clark said: “We are delighted to be able to offer such a great product. According to the Employee Benefits Survey 2018, one of the most popular employee benefits is private medical insurance. Offering private health and wellbeing support makes the workforce feel valued and aids both employee retention and attraction.
“However, many health insurance plans are over complicated and offer differing levels of cover and prices based on the results of extensive medical questionnaires or the age of the person applying. This is where Equipsme is refreshingly different. There are no lengthy medical questions in the application process and all ages from 16 to 69 cost the same.
“Equipsme makes offering health and wellbeing support accessible for smaller businesses by offering a jargon-free, flexible service that makes it possible for employers to offer a level of cover that is appropriate for their workforce. This ethos mirrors our own no-nonsense approach to insurance, which is why the product is a perfect fit for us. The plan is focused on providing quick and easy access to the right medical professional for faster diagnosis and treatment and enables staff to make a speedy recovery.”
Equipsme has been developed with the expertise of health insurer AXA PPP healthcare and three of the UK’s leading health support specialists: Medical Solutions, Thriva and Health Assured.
The service has its own app which enables users to access all the benefits and services offered within their plan from their smartphone or tablet.
PolicyBee is now offering the Equipsme health and wellbeing support plan to new and existing customers over the phone and will be working with the Equipsme team to trial online sales in early 2019.
Cover is purchased in levels starting with GP+ which costs just £7 per person per month, level 3 coverage costs as little as £17 per person per month, level 2 coverage is £29 per person per month and level 1 coverage starts at £37 per person per month. Dental, optical and stress support cover can also be added by employers and employees can choose to pay to upgrade their cover and easily add family members to their plan.