Small Business Medical Insurance Plans

Small Business Medical Insurance Plans-26
The discounted subscription amount will be stated in the quote provided and shall be used as the base price for renewals in subsequent years.Please note that when calculating renewal prices, Bupa also considers additional factors such as (but not limited to) claims history, age of members, the rising cost of healthcare and Insurance Premium Tax, which will be factored in to each year’s renewal subscription. Bupa reserves the right to decline to offer a Bupa Select Company PMI policy in its absolute discretion, and Bupa’s decision regarding any aspect of this promotion is final. Bupa reserves the right to cancel, suspend, amend or withdraw the promotion at any time without prior notice. The offer is non-exchangeable, non-transferable, has no cash value/alternative and cannot be used in conjunction with any other promotion or offer. Bupa will use any personal information in accordance with its privacy notice which can be found at 9.

Individual medical coverage, on the other hand, is a single policy issued to a single person or family.

The rules are quite different for group coverage versus individual coverage, in large part because the insurer’s risk is calculated differently.

Below, we outline the basics behind group coverage.

Group medical coverage refers to a single policy issued to a group (typically a business with employees, although there are other kinds of groups that can get coverage) that covers all eligible employees and sometimes their dependents.

Quotes are valid for 28 days and the policy must start between 1st August 2019 and 30th September 2019 inclusive.

Bupa’s standard Terms of Business and Bupa Select Company PMI policy Terms & Conditions will apply. The discount amount is based on 20% of the total annual subscription amount on a Bupa Select Company PMI policy net of Insurance Premium Tax.

The employer has the option to offer coverage to part-time employees (defined as those working fewer than 30 hours per week).

If the employer offers coverage to any part-time employees, all of them must be offered coverage.

A “small employer” is defined as a business with 2 to 50 full-time employees.

Owners are generally counted as employees, so sole proprietorships with one employee usually fall into this category, as do partnerships without any employees (by definition partnerships have two or more partners).


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