Health Cash PlansHow do health cash plans work?
The plans are insurance policies, providing a range of health-related benefits. These benefit vary between plans, but typically a £1.00 per week contribution could provide an employee with:
- £200 per year towards provide specialist consultations, tests and scans
- £100 per year for health and wellbeing screening
- £150 per year towards physiotherapy, sports massage or chiropractor
- £50 per year towards dental treatments (£200 in the case of accidental damage to teeth)
- £50 per year towards optical care (eye tests, glasses and contact lenses)
- £20 per year for prescriptions, inoculations and flu jabs
Under company schemes there is no medical underwriting and pre-existing conditions are usually covered so employees can start claiming immediately. As an added bonus, members’ children are often covered free of charge. Health cash plans can be used either standalone or as part of a wider strategy in conjunction with and complimenting private medical insurance. There are a number of health cash plan providers, each with a variety of schemes on offer.
- Low cost ‘entry level’ to corporate healthcare
- Flexibility in terms of costs and benefits
- Simply understood, every day health benefits
- A valued benefit, encouraging health and wellbeing