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Absolutely the best for less in Corporate Health Insurance!

In today’s economy, the key to an efficient and successful workplace is having the right people and retaining them.

Introducing a Coporate Health Insurance Plan forms an important part of this policy. It also ensures that ill or injured employees who might otherwise rely on the public hospital system for treatment can get back to work as soon as possible.  A Corporate Health Insurance Plan enables the employer to not only use its group buying power for its own benefit, but also for the collective good of its employees.  Best of all, Corporate Health Insurance plans can work well with as few as 20 employees.

Benefits of providing a Corporate Health Insurance Plan

A Corporate Health Insurance Plan (100 members plus) can deliver positive outcomes for both employer and employees because:

• Access to private hospital treatment such as ‘day care’ usually results in ill or injured staff returning to work sooner.
• The cost of lost productivity is reduced when staff are able to claim on their own private health insurance cover.
• Staff with ill or injured family members are more productive when they see the results of a ‘company cares’ policy at work.
• The employer can assist employees to receive quality health insurance and reduce their premiums, without having to pay for them (Refer to Options 1 & 2 of Corporate Options).
• Staff can buy better health insurance at reduced rates and the employer provides a value added benefit.

How does a Health Link Corporate Health Insurance Plan work?

The employers input into a Corporate Health Insurance Plan is usually minimal. When a large corporation arranges a Corporate Health Insurance Plan, the Health Fund can pay an administration commission of up to 12% of the premium to the employer. Usually this administration commission is applied for the benefit of the members of the health fund (based on a minimum level of memberships) in the form of a premium discount.

At Health Link we frequently recommend that these administration payments are placed in an account called the Excess Refund Pool; an account where these payments are held. If only part of the administration commission goes into the Excess Refund Pool, the remainder can be used to reduce employee’s premiums.

Under this arrangement employee’s hospital cover can include an excess payment if they go to hospital - resulting in much lower premiums. In the event of hospitalisation, the excess is repaid to the employee from the Excess Refund Pool. This means employees can enjoy the greatly reduced premiums of a high excess policy and the peace of mind and security of having the excess refunded to them in the event of a hospitalisation. The employer also saves money in 'add-on' employment costs, as a higher standard of health care means a faster return to work. Under this type of arrangement, employees can reduce their health insurance costs by up to 30%...or more without the employer contributing to the Plan.

The employer can also choose to part-subsidise or fully pay for employee premiums.

Corporate Options

Health Link has 4 main options available for Corporate Health Insurance Plans:

1 Excess Subsidy Plan	2 Excess Refund Pool	3 Fixed Payment Plan	4 Fully Funded Plan
Refund of excess on hospital cover for employees (over 20 members)	Payroll discount with refund of excess for employees (minimum 100 members)	Part premium funding for employees Health Insurance (over 20 members)	Health Insurance membership paid fully by employer, less the 30% rebate (at least 20 members plus)

Under these options health insurance can be packaged by Health Insurance to provide valuable prevention and protection benefits at the workplace – whether large or small.

Our experience is that each workplace has its differences. As such we go to great lengths to give you the best options for your current needs, and then help you to review your arrangements as your needs change. The best way for you to make a start is to complete and submit our online Employer Fast Track Enquiry Form or print and fax it to us on 03 9642 8999.

The information that you supply about your workplace will enable us to send you a Corporate Health Insurance Plan Proposal explaining how an Employer/Workplace Health Insurance Plan can provide major cost savings at your workplace. Please note that you must be authorised in writing by your employer before we can respond to your enquiry.