Working with small corporate clients on quotations

If you're an IFA or accountant who is interested in passing medical insurance clients over to a specialist healthcare broker like myself what are the key pieces of information you need to collate from your client to pass on to enable me to begin the review and organise some figures and an initial report ?

For brand new company  clients who currently have no medical insurance plan in place I just the following :

Name and address of the company, ideally this must match their appearance on the DTI Companies House website as many insurers now check that companies are legitimate corporate entities.

We will also need a list of staff including their ages/date of birth along with the same for dependents (although it is easy enough to price without family members and amend later which happens quite often). All staff to be covered will be paid in full by the company which results in a P11D 'benefit in kind' charge for the premium - this is part of the eligibility criteria implemented by HMRC for businesses to obtain the generally lower price and tax advantages of company paid medical insurance.

As with new personal client reports I tend not to take an in-depth overview of benefit requirements from the client at quotation stage preferring to offer a range of options in my report for us to drill down with the client at a later meeting/call.

In the next post  I'll cover off the same informational breakdown for company clients with an existing plan already in place.

If you are a business professional who think their clients might need advice on any aspect of medical insurance or other related plans please feel free to contact me on :

philknight@pch.uk.com or 07792 075748

Phil Knight
Independent Healthcare Consultant
November 2018