How to take 360° Health Protection into use to provide health insurance to employees?

Alongside IIZI, Stebby has come up with a brand-new solution consisting of health insurance packages that are perfect for employers who wish to provide their employees insurance.

Due to the business-oriented nature of the solution, only employers can assign and purchase insurance for employees unlike the previous form of health insurance on Stebby that could be bought by Users as well.

You can give the employees the following choices on how to use health insurance and/or compensation:

1. only wellness and sports compensation;
2. only health insurance by choosing the Fast Treatment or Cared For package;
3. combine both, i.e. use part of the compensation for wellness and sports services and other part for health insurance, choosing the Be Healthy package.

Take into note though that If you compensate 100€ per quarter and the employee chooses a package that costs 33.33€ per month, the employee's wellness compensation plan must be deactivated and only the health insurance policy must be activated, otherwise there may be a risk of fringe benefit tax.

If the employee chooses a package that costs 16.66€ per month, a separate compensation plan in the amount of 50€ per quarter should be created. In this way, the employee has both the wellness compensation plan and health insurance activated.

However, the employee does not have to be given the option to choose between 3 packages, you can use only 1 specific package if you wish.

If you compensate less than 100€ per quarter, the employees cannot choose a package that costs 33.33€ per month and pay the rest of the amount themselves, because the insurance payment is deducted directly from the company's account balance, not from the employee's compensation account.

To get started with providing health insurance to your employees, first make sure that you have a functioning Company account in the Stebby environment. Once you’re ready, head over to the “Insurance” view of the Company account and review the three insurance packages along with their terms and coverage. All policies are valid for 12 months and it is not possible to change the package during this period. The employer can only terminate an employee's insurance if the employee leaves the Company.

If you’ve already previously created a policy, then click on “Start new policy” first instead. Once you’ve selected the right one, click on “Choose this” below the coverage amounts. Before confirming the policy selection, you will be shown the price per employee monthly and the insurance policy duration.

After selecting a policy, you must add employees to it. To do this, select “Assign users” in the view you were taken to or instead head to the “Employees” - “Insurance” section of the Company account. Check boxes with the employees you wish to add to the policy you’ve created and then select “Start insurance” from the menu bar that just appeared. Select the policy you created from the dropdown and while at it, assign a date for when the employees’ policy starts.

After you’ve added the necessary Users to the policy and assigned them start dates, head back to the general “Insurance” view of the Company account and click on the policy you created and added employees to. Review the selections made and if you’re ready, click on “Submit to review”. Users can also be assigned on an ongoing basis, though they have to be added before the 25th. Then, their insurance coverage will apply on the first of the next month. Should you ever encounter the need to add an employee to an ongoing policy, make sure not to create a new policy and just add the employee to it like you did before in the “Employees” - “Insurance” view.

The insurance policy should be submitted for review when the final list of insured employees is complete, but no later than the 25th (included). The employee's insurance coverage comes into force on the 1st of the following month, if the admin has activated the health insurance by the 25th (included) at the latest. The valid insurance policy and conditions are visible to the employee in his/her personal Stebby account from the 1st day of the insurance period.

Similar to the service fee applied to a Company account for compensation usage, the amount of the insurance payment is deducted automatically from the company’s Stebby account every month. Due to this, make sure to keep an eye on the Company account’s finances to ensure that insurance payments are well covered.