Sourcing your private health insurance when starting a new business

greeneye44 · Sep 27, 2020

Hi everyone,

I recently left my corporate job to start my own business and as a result I need to source my private health insurance. I would be interested to know what typically people choose, especially what are the personal health insurances equivalent to the business private insurance that are provided in big companies (generally AXA, BUPA etc).

If you have any information about that, I think it would save time to a lot of people starting a new business !

Scalloway · Sep 27, 2020

Is this for you personally or for other employees? If the business pays your health insurance as an employee of your own company you will pay tax on it as a benefit in kind.

greeneye44 · Sep 28, 2020

Hi, this is for me personally first. As I haven't created the new business yet, I am taking a personal insurance in the meantime !

Scalloway · Sep 28, 2020

I don't see any advantage in the business paying your health insurance. It won't save you any tax.

Tirion · Sep 29, 2020

I have the same problems.

greeneye44 · Oct 21, 2020

Hi Tirion, I don't know if you have been able to solve your problems.

What I did was the following:
1) Look for private insurances online through a comparator
2) Called my previous company insurance and told them I needed the same I had before but for personal as I was not employed by the company anymore

I ended up staying with my previous company insurance but paying 50% more with lower coverage... The response from the insurance provider was that my employer was paying a high percentage of it.

I hope that helps !

KAC · Oct 22, 2020

I used a PMI broker who reviewed the market and I ended up with vitality.co.uk who are providing better cover than my BUPA policy for a cheaper price

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Sourcing your private health insurance when starting a new business

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Sourcing your private health insurance when starting a new business