SYS Financial Launches Enhanced Health Insurance Advisory Service for Businesses

SYS Financial, a leading provider of financial planning and employee benefits in Ireland, has announced the launch of its expanded private health insurance advisory service, specifically tailored to meet the needs of businesses amid soaring health insurance premiums.

This initiative comes at a critical time, as private health insurance premiums are set to increase by up to 20% this year, alongside higher government levies and reduced coverage for day-to-day medical services.

The Irish health insurance landscape is increasingly challenging for businesses, with over 400 plans on the market and frequent changes in policy terms. Identifying the most cost-effective and suitable cover for employees has become a complex task for HR and finance teams.

Ger Conalty of SYS Financial, said: “The health insurance market is notoriously complex, making it difficult to identify the most appropriate and cost-effective plans. With levies and premiums increasing, and tighter caps on routine services, many risk overpaying or being underinsured. In this environment, informed decision-making is crucial and a service like ours can make all the difference.”

SYS Financials’ new advisory service addresses these challenges by offering:

• Comprehensive Plan Review: SYS Financial conducts a full-market analysis to identify plans that align with your company’s benefits strategy, filtering out unsuitable options and highlighting those that deliver real value for your workforce.
• Access to Exclusive Plans: Many of the most competitive policies are not widely advertised. SYS Financial leverages its industry relationships to access lesser-known plans that may not be available directly from insurers.
• Expert Navigation of Plan Changes: Insurers can alter outpatient benefits or increase excesses with minimal notice, impacting your employees’ coverage and your company’s costs. Expert advice ensures you are informed of these changes and their implications.
• Risk Mitigation in Plan Switching: Switching health insurance plans without expert guidance can lead to costly pitfalls, such as new waiting periods or Lifetime Community Rating (LCR) loadings. Trusted advisors help you avoid these risks, ensuring smooth transitions for your business and employees.
• Employee Engagement and Education: Health insurance is only valuable if employees understand and use it. SYS Financial provides tailored communication and support, helping your team maximise their benefits, which in turn strengthens your company’s recruitment and retention efforts.

SYS Financials’ advisory service not only simplifies plan selection and renewal but also provides ongoing support for employee queries, reducing administrative burdens for HR departments. Payroll integration and scheme management are handled efficiently, ensuring a seamless experience for both employers and staff.

As health insurance costs continue to rise and benefits shift, SYS Financials’ expert advisory service gives employers the clarity and confidence needed to protect their teams and enhance their value proposition as an employer of choice. This launch reinforces SYS Financials’ commitment to simplifying financial complexity and empowering better business decisions at every stage.

The expanded health insurance advisory service complements SYS Financials’ comprehensive range of corporate offerings, including workplace pensions, executive benefits, financial education, and investment support. This integrated approach helps businesses navigate rising costs, evolving employee expectations, and the increasing complexity of the benefits landscape.

Media Coverage

• RTE News: SYS Financial expands health insurance advisory service for businesses
• Business Plus: SYS Financial launches enhanced health insurance advisory services for businesses
• Business Post: SYS Financial expands health insurance advisory service for businesses