If you’re the owner of a limited company, business health insurance can help you to support the health and wellbeing of your team.
How does private health insurance work for limited companies?
Private health insurance is designed to cover the cost of private medical treatment for acute conditions that develop after your policy has started.
With private health insurance, you’ll pay a set monthly or yearly amount (otherwise known as a premium) which will cover the cost of private medical treatment should you need to make a claim, depending on the cover options you choose and the details of your plan.
At AXA Health, our small business health insurance plans cover businesses with 1-249 employees so you can get business health insurance whether you’re a company director covering 100 employees or you’re self-employed looking to cover yourself.
What are the benefits of private health insurance for limited companies?
Private health insurance can have a number of benefits for limited companies, including:
Convenient appointments
Private health insurance gives you and your employees more flexibility over your appointments, so you can choose one at a time and place that’s convenient for you
Quick access to diagnosis and treatment
Depending on the cover options you choose, you and your team will have quick access to diagnosis and treatment
Recruitment and employee retention
Including private health insurance in your employee benefits package can be a great way to attract new talent to your business, as well as helping to retain your team
Access to 24/7 health support
Private health insurance often comes with access to 24/7 health support online or over the phone, meaning that your team will be able to speak to someone about their health concerns day or night
What are the tax implications of health insurance for limited companies?
If you’re buying health insurance through a limited company, it is eligible for tax relief as a business expense assuming it benefits the business. So it might be desirable to provide your health insurance this way.
However, there are other tax implications that come with paying for health insurance as a limited company. For example, it is considered by HMRC to be a benefit in kind. This means that you and any employees covered on your plan will need to pay tax on the benefit amount.
For advice on the tax implications of health insurance on your business, you should speak to your accountant.
What does business health insurance cover?
Business health insurance is designed to cover new acute conditions that develop after your policy has started. The exact cover you have will depend on your cover options. At AXA Health, we think the best way for you to get the cover that’s right for you and your budget is to let you build your plan yourself. We offer a range of cover options for you to choose from, including:
- Treatment option: Cover for hospital procedures and operations, including surgery, plus when you include Comprehensive Cancer Cover, radiotherapy and chemotherapy for cancer (subject to previous medical history)
- Diagnostics Only option: This option can help you quickly find out what’s wrong if you or one of your employees becomes unwell
- Outpatient option: Employees with a GP referral are seen quickly by a specialist at a time and place that suits them (subject to eligibility and underwriting)
- Therapies option: Cover for referred outpatient treatment by a recognised osteopath, physiotherapist, acupuncturist, or chiropractor
- Mental health option: Look after more than just your employees’ physical health with cover for mental health treatment (subject to previous medical history)
- Private GP option: Makes it easy for you and your employees to see a private GP in person, promptly, at a time that’s convenient
- Travel option: Whether travelling for business or pleasure, cover your team for emergency medical treatment. You’ll also have access to other travel-related benefits
- Dentist and optician cashback option: Help your employees look after their teeth and eyesight with cashback towards dentists’ fees, glasses, contact lenses and eye tests
- Extended cover option: Provides even greater flexibility and choice over where your people are treated
- Employee Assistance Programme option: If you or your team are going through difficult times, such as divorce or financial difficulties, this option provides a professionally trained expert to talk to; on the phone, or in person, depending on the chosen programme. (You need at least one other cover option in your plan to buy an EAP option)
How much does business health insurance cost for limited companies?
The cost of your business health insurance will depend on a number of different factors, including:
- Group size: The number of employees you choose to cover will affect the cost
- Employees ages: The ages of your employees will have an impact on the cost of your business health insurance
- Location: Your location can determine which private hospitals are available within your area which can affect the cost of your plan
- Cover options: The cover options you choose, as well as the number of options, will have an impact on the cost of your plan
- Underwriting option: The underwriting option you choose will affect the overall cost of your plan
To give you an idea of costs, we’ve put together three example plans below.
The below examples are based on six employees (aged 25, 30, 35, 40, 45 & 50), living in Guildford, with a £100 excess and a two year moratorium on pre-existing conditions. Costs are representative as of April 2025, and prices will vary depending on location, cover options and ages.
What are the benefits of our health insurance for limited companies?
Regardless of the cover options that you choose, you'll have access to the following benefits:
- 24/7 access to a private GP - Access to our 24/7 phone and video GP service. Appointments are subject to availability.
- Muscle, bone and joint support - You and your team aged 18 and over get access to a physiotherapist over the phone, or online without the need for a GP referral.
- 24/7 health support line - Our helpline is open 24/7 for health information and support from nurses and counsellors. Midwives and pharmacists are available from 8am-8pm Monday to Friday, until 4pm on Saturday, and until 12pm on Sunday.
- Heart and cancer support - Our experienced nurses are at the end of the phone to offer you and your family information and support if diagnosed with one of these conditions.
- Gym discounts - Access to special member offers such as discounts on gym memberships. Terms apply. Offers are subject to change and are not part of the insured plan.
Small business guide to health insurance
If you've considered adding company healthcare cover to your employee benefits package, it's likely that you have questions around how it works. You'll want to make sure that you're getting the coverage that will best suit your team and your budget, so you can be there for your people when they need it most.
That's why we've created our small business guide to health insurance.
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