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The tax advantages of company health insurance

All the strongest companies in the country have one thing in common: they offer their employees health insurance. This is a statement that you must take into account if you aspire to become a large company.

You may still think that taking out company health insurance only benefits your employees, but it is not true.

We, as insurance experts, want to talk to you in this post about the tax advantages of company health insurance because it has them, and they are very significant.

What is business health insurance?

Medical insurance for companies is a solution to prevent absenteeism by covering the medical services that your employees need; this insurance covers most of the services that may arise in the day-to-day of a company and that your employees may need throughout the day. 

The level of private insurance coverage will always depend on the type of contract and, above all, on the specific offer of the insurer with which you make it. Normally, with the services of a company health insurance, the employee can benefit from general medicine and all medical specialties, therapeutic methods, diagnostic tests, and some dental treatments.

The most common is that the company offers this type of health policy to its employees as part of the social benefits.

What coverage and services does company health insurance include?

Now that you know what the NPI number of medical insurance for companies is, we are going to list the main coverage and services that they include.

Coverage includes the medical insurance companies.

The company’s medical insurance covers include consultations with primary care doctors, as well as all medical specialties.

And the copayment issue? We know that this is something that worries us a lot when it comes to contracting health insurance; for this reason, you have the possibility of contracting insurance without copay or health insurance with copays, and even then, the first six services would have no cost.

What services are included in the company health insurance?

The services of our private medical insurance perfectly complete each of the coverages offered.

These include a second medical opinion, the emergency service abroad (up to €12,000 per year), 24-hour telephone medical advice, professional doctors at your disposal all day long, as well as the emergency telephone service, or all the management online related to your health (appointment request, download of analytics, reimbursement requests, medical authorizations, etc.).

What are the advantages of business health insurance?

Once all the coverage and services included in the medical service for companies have been listed, we want to talk to you about the benefits it brings to your company. Although today, in this post, we want to focus on the prosecutors, we do not want to stop listing the social ones since we believe that they are also fundamental.

Social advantages The rate of absenteeism from work for medical reasons, according to studies, has grown by 21% since 2014. Up to 70% of those consultations that these employees attend could be made by telephone or by video conference with a private doctor. This is why contracting private health insurance for your company would involve a notable reduction in absenteeism.

Tax advantages of company health insurance

Each of these options has important tax advantages for company health insurance that you should know about.

If it is the company that is in charge, the health insurance that the company pays for its employees is a deductible expense in Company taxes. 

If both company and employee assume a part of the cost or the employee assumes it completely, the part assumed by the worker will be deducted from his payroll and will reduce his tax base. But what if the employee assumes 100% of the cost of the insurance? How is it different from doing it on their own? Well, many employees look for cheap health insurance, making use of a health insurance comparator, but contracted by the company, you can benefit from savings of up to 40% by comparing two completely similar policies, since as a group discount will always be greater.

Regarding the company, in this case, it will have the same benefit stated above.

What medical insurance for companies to choose from i

The perfect international medical insurance if your company has employees who are going to live or already reside abroad. This insurance provides global coverage worldwide, with which any of your employees will have excellent health care anywhere in the world.

With this insurance, you will take care of your company through the care of your employees—the best health insurance for SMEs, In addition to a revolution in the field of digital health. Your workers will be healthier, more motivated, and consequently more committed to your company.

The best medical insurance for those companies with more than five and less than 75 employees. 

And for those companies with more than 75 employees that want to take care of each one of their workers, there is this complementary health insurance. Complete medical coverage that adapts to the needs of each business.

And so far, our post today in which we have talked about the tax advantages of company health insurance. We hope we have clarified all the doubts you may have in this regard. We are looking forward to hearing from you, do not hesitate to contact us Or better yet, shall we call you?

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