Health Insurance News

At first glance the world of private health insurance can be confusing. There's a lot of jargon and a wide range of funds and products to choose from, and the pressure to get it right is even higher if you're an employer looking to invest in health insurance for the benefit of your employees.

A good corporate health insurance plan demonstrates to current and prospective employees that you value their well-being and see them as more than just an asset. It also offers significant benefits to employers that can both affect a company's bottom line for the better, and create a strong workplace culture. Here are some of the top benefits of a corporate health insurance policy.

According to the World Health Organisation, depression is the leading cause of disability worldwide, and in order for people who experience such mental health disorders to receive an accurate diagnosis and the right treatment, prompt access to specialists is paramount. Recent research in Australia, however, has indicated that underfunding has led to extended wait times and a shortage of highly skilled mental health practitioners.

Employee turnover is expensive - more so than you'd think. In fact, a business of 50 employees can expect a turnover of roughly 10 staff per year, according to estimates from Harrison Human Resources. They also stated that the costs of hiring and retraining, as well as loss of productivity for replacing one employee could cost as much as their yearly salary.