Can a small business get an HMO? A guide for teams under 20
You do not need hundreds of staff to give your team proper health cover. What small teams should know about group plans, costs and getting started.
Many founders think HMO cover is only for banks, oil companies and big firms. It is not. If you run a fashion studio with eight tailors, a design agency with twelve people or a clinic with fifteen staff, you can get a group plan too.
For a small business, health cover can matter even more. When one person out of ten is off sick for two weeks, you feel it straight away.
Yes, small teams can get group cover
Most HMOs sell plans built for small and medium businesses. Some set a minimum number of people for a group plan, and the minimum differs from one plan to another. On Yousure, you can compare plans for teams of six people or more.
Why it is worth it for a small team
- No more emergency collections. Small teams often end up passing a bowl around when someone is admitted to hospital. A plan replaces that with a fixed cost.
- You compete for talent with bigger companies. Good candidates weigh the full package. Health cover helps a small company look serious.
- People come back sooner. Staff who can see a doctor early lose fewer days to illness.
- It is a clear, known cost. You pay a set premium, not a surprise bill.
What to watch out for
- Minimum headcount. Check the minimum group size before you fall in love with a plan.
- Staff turnover. Ask how new hires are added mid-year and how leavers are removed, and whether you are charged for the full year.
- Waiting periods. Small group plans are more likely to have waiting periods for maternity and major surgery. Ask if they can be waived.
- Hospitals near your business. A small team usually lives close to one area. Make sure the hospital list covers it.
Keeping the cost manageable
- Start with a basic plan for everyone. You can move up a tier as the business grows.
- Cover staff first, then dependants later. Or let staff add family members and pay the difference.
- Pay quarterly if cash flow is tight. It may cost a little more than paying yearly, but it is easier on a small business.
- Review it every year. As your team grows, you may qualify for better prices.
Action plan
Your small-business action plan
- 1
Count your team
Include everyone you pay regularly, and note who has a spouse or children.
- 2
Set a monthly amount you can afford
Work out a comfortable figure per person each month.
- 3
Compare plans for your headcount
Enter your team size on Yousure to see plans that accept groups your size.
- 4
Check the hospitals near you
Make sure there are good hospitals close to where your staff live and work.
- 5
Tell your team
Announce the benefit and explain how to use it. It shows you care.
