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Corporate Health Insurance- What you need to Know

As a business owner or a decision maker in a corporate environment, it is critical to recognize that the health, safety and overall well-being of employees is a key driver of sustainable high performance of your organization. A company’s people are its greatest assets. As such, organizations need to support employees in taking care of their physical, mental, and emotional well-being to ensure that employees are productive at all times.


A simple way for a company to achieve this is to secure a health insurance – known as corporate health insurance plan for its employees.


A corporate health insurance is beneficial for both the employer and the employee. If you’re an employer, offering corporate health plans to your employees will help improve productivity and morale. If you’re an employee, being able to join a corporate health plan offers not only lower cost health cover, but a range of great benefits  such as coverage for medicine, visits to the doctor or emergency room, hospital stays and other medical expenses like surgeries.


Things to note about Corporate Health Insurance:


  • How is the policy paid for?

Three methods exist in determining how the policy is paid for:

  1. Fully funded: With this method, the employer fully pays for the health cover of their employees as a benefit of employment. The employer could either reimburse the insured for expenses incurred from an illness or injury or pay the care provider directly in which case the insured will be guaranteed treatment as at when required without need for cash payment.
  2. Partially funded: with a partially funded insurance policy, the cost of health insurance is shared by the employer and their employees.
  3. Voluntary: Here, the employer finds a health policy for their employees who can choose to join and pay for it themselves if they wish.


  • What Policy-types exists in a Corporate Health Plan

The policy types that are available for corporate plans are the same as those offered to consumers by health funds, which are:

  1. Hospital insurance only: This type of policy covers the cost of in-hospital treatments and services.
  2. Extras insurance only: This is also known as general treatment or ancillary insurance, this covers medical services outside of hospital.
  3. Combined hospital and extras insurance: This is a common way of buying health insurance, this ensures cover for a wide range of treatments.


The level of cover provided and the member benefits depends on the package the employer is able to negotiate with the insurer and the amount the employees are prepared to pay in premiums (if shared or employee funded).

Quite a number of people don’t know where to look or whom to contact for information on possibilities open to them.


Are you one of the many employers that don’t have a corporate health insurance plan? With AXA Mansard’s corporate health insurance plan, you can take employee engagement, satisfaction and productivity to another level.


Remember that AXA Mansard Health offers a bouquet of flexible plans that give you access to quality health care and superior service delivery. With our wide range of carefully selected hospitals nationwide, hospital pre-booking service which saves you the hassle of long queues, out of pocket reimbursement arrangement, 24/7 Customer Contact Centre etc., you can rest assured that you are making a great choice.


To get started, please speak to an AXA Mansard agent, call us on 0700 AXA MANSARD (0700 292 6267273) or send an email to ccare@axamansard.com.


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