1Q - Having an individual policy, running my own business, I’ve heard that it could be cheaper with more tax advantages, transferring to a company policy. If this is so, what is the minimum number of employees needed for a company policy?
A - Although you can have a company policy with just 1 or 2 employees, the most popular U.K. company paid healthcare policy is for 3-5 employees, whereby typical premium reduction is 30-50% compared to individual policies, with the more employees added further marginally reducing premium. The premium, although treated as a P11d benefit in kind for the employee, can then be offset against corporation tax by the company, as opposed to having been paid for out of taxed income for individual policies.
2Q - What are some ways in order to reduce premium?
A - Reduced Outpatient module - limiting the number the consultant appointments available / Excess - apply or increase / NHS 6 Week wait - relying upon the NHS for up to 6 weeks from consultant referral till hospital treatment as well as reducing the hospital choice available.
3Q - As well as the immediacy benefit what are some of the other benefits of Private Healthcare?
A - As well as the primary immediacy benefit, thereby ensuring a return to the best of health as soon as is physically possible from the very best surgeons available, private hospitals offer the privacy of your own room, with an overall environment more conducive to optimum surgery recovery timeframes. In financial terms, the more costly cancer drugs, which simply aren’t always available within the N.H.S. as they often fall outside of the N.I.C.E. guidelines, can be of particular benefit to the Private Healthcare client.
4Q - Being called Surrey Circle Health does that mean that you only have Surrey based clients?
A - Absolutely not! We are based near Woking in Surrey however have Clients from all over Southern England, predominantly within the Greater & Outer London as well as Home County areas.
5Q - Is it worth the hastle and faff of transferring insurers?
A - The logistics of transfer is a half hour review discussion, followed by the provision of up to half a dozen quotes by SCH, which routinely offer premium savings of between 20 - 50% for similar and often more comprehensive cover. SCH then subsequently complete the online application process, keeping your underwriting fully intact, followed by your new policy documents dropping into your in-box within 5/10 days, incorporating a statutory FCA regulated 14 day cooling off period, thereby protecting you the consumer so that you can fully review your new policy before it effectively goes into force.
6Q - If I use your services to incept/transfer some cover, will you further advise at potentially point-of-claim, member changes and renewal invitation?
A - Coming onboard as a new client is just the beginning of your PMI journey with us! Fully contactable with a mobile number that’s never changed in three plus decades, we treat our clients like family members, taking pride in ongoing customer care at all times in the future, with full annual market review availability.