Group health insurance vs individual health insurance

What are the benefits of group health insurance?

A group health insurance policy offers a streamlined way to provide comprehensive cover for your team wherever they choose to work. Here’s why group health insurance may be better for your business over health insurance policies for individual team members:

1/ Better value

Group policies are designed to provide extensive cover while delivering excellent value for businesses of all sizes. With William Russell’s group health insurance, your employees are covered for:

• Inpatient and outpatient treatments
• Cancer care, including advanced treatments
• Kidney dialysis
• Organ, bone marrow, and tissue transplants

And with high plan limits, ranging from US$1.5 million to US$5 million, your team can enjoy total peace of mind that they are well-protected against any unexpected medical costs.

2/ Mixed levels of cover

You are free to customise your policy to suit the needs of individuals or groups of people in your company. This means you can offer a higher or lower level of cover to groups of employees depending on your requirements and budget.

Many businesses take advantage of this flexibility to:

• Create a comprehensive package designed to meet the needs of senior employees, directors and C-suite executives
• Offer packages that suit of needs of employees with different job requirements, such as those who travel regularly
• Design policy packages as an incentive to attract and retain top talent
• Tailor coverage levels to manage costs effectively while still providing essential protection for your international workforce

3/ Customisable benefits

A one-size-fits-all approach doesn’t work for every business. That’s why our group policies offer you the flexibility to tailor your coverage. With our Silver and Gold plans, you can enhance your policy with:

• Dental and optical cover, improving overall employee well-being
• Pregnancy and childbirth benefits, supporting family planning and parental care
• Well-being and well-child services, promoting preventive healthcare and wellness

4/ Hassle-free administration

Managing individual policies for multiple employees can be time-consuming and complicated. Group insurance simplifies the process, especially for businesses with 10 or more employees, thanks to Medical History Disregarded (MHD) underwriting.

With MHD:

• Employees are automatically enrolled without requiring detailed medical histories
• There’s no need to worry about pre-existing medical conditions slowing down the process

This streamlined approach ensures your team is covered quickly and with minimal effort, leaving you free to focus on running your business.

5/ Access to top-tier healthcare

Group health insurance connects your team to high-quality medical facilities and professionals. At William Russell, we have a global network of over 40,000 hospitals, giving your employees access to the best care wherever they are in the world. Key benefits include:

• Cashless access to outpatient treatments, removing the hassle of upfront payments
• Coverage for consultations with leading doctors and specialists
• Freedom to choose any hospital or clinic in your coverage zone

This level of support gives your team peace of mind that they’ll receive exceptional care, whether they’re at home or travelling abroad.

What’s better for small businesses?

While it might seem logical to take out individual cover for a small number of employees working overseas, group health insurance can be a more cost-effective way to offer employee benefits that go above and beyond standard levels of cover.

Whether your team is just starting out or on the path to growth, group insurance helps you build a strong foundation for a healthy and thriving workforce. So long as you have at least three employees, you’re eligible to take out a group health insurance policy today.

Here are some of the key reasons why small businesses choose group health insurance:

Cost efficiency

For small businesses, every penny counts. Group health insurance simplifies costs by bundling employee coverage into a single policy. This approach typically offers:

• Lower premiums per employee compared to individual plans
• Reduced admin with a single billing cycle and policy to manage
• Scalability, allowing you to easily adjust cover as your team grows

The financial predictability of group policies makes budgeting easier, so you can invest more in other areas of your business.

Attractive employee benefits

Small businesses often face challenges competing with larger companies when it comes to attracting talent. Offering comprehensive group health insurance can make a big difference. It signals to potential hires that your business prioritises employee well-being and provides:

• A competitive edge in the job market
• Increased loyalty and job satisfaction among current employees
• Benefits for employees’ dependents

For small teams, these factors can be a game-changer, helping you build a loyal, motivated and productive workforce.

Peace of mind

For small business owners, knowing your team has access to top-quality healthcare is invaluable. With group health insurance, you can rest assured that your employees are covered for:

• Essential medical care, such as inpatient and outpatient treatments
• Mental health services, to help combat stress and culture shock
• Emergency cover, including medical evacuations in critical situations

This comprehensive safety net supports your employees’ health and productivity, reducing the risk of unexpected disruptions to your business operations.

A culture of care

Providing group health insurance also strengthens your workplace culture by showing you care about your team’s health and well-being. This fosters:

• Higher morale, as employees feel valued and supported
• Stronger trust, encouraging better collaboration and loyalty
• A healthier, more engaged workforce that’s ready to contribute to your company’s success

I’m an employee – how does group health insurance work for me?

Your company’s group health insurance policy offers you insurance cover that you are free to use as and when you need it.

From your perspective, it’s much like an individual health insurance policy. It’s mandatory for the company to pay 100% of the premium on behalf of the employee, and you should receive policy wording that outlines which medical treatments are covered.

When it comes time to make a claim, simply follow the standard claims procedure.

Why choose William Russell for group health insurance?

With William Russell, you’re not just choosing a policy – you’re investing in your team’s health and your business’s success.

Notes on our group health insurance

We show the benefits on this webpage in US dollars, but we can also denominate your policy in pounds sterling or Euros. You won’t find complete information for our plans on this webpage, nor the full T&Cs, limitations, and exclusions that would apply if you purchase group health insurance. You can find complete information in the plan agreement, which we suggest you read together with this webpage. We work hard to ensure the information we provide on this webpage is accurate and up-to-date, but inaccuracies are possible. We rectify errors as soon as we become aware of them. The T&Cs that apply to your policy are those found in your plan agreement.