A health cash plan is a stand alone policy which can be used as an alternative to, or in conjunction with private medical insurance. Scheme’s often provide 100% cash back, up to agreed limits, for a wide range of treatments in areas such as dental, optical, consultations, wellness checks and more.
Using the proven theory that prevention is the better cure, providing affordable care to your employees for their day to day health costs such as contact lenses and glasses, fillings or physiotherapy can mean the difference between a comfortable work day or a condition which could worsen, meaning extended periods of absence.
Each benefit has a maximum amount that can be claimed back per plan year, which can be increased through multiple levels of cover. Some treatments may only pay a percentage of the total cost of treatment, for example 80% of the cost of a £20 treatment would recoup a cashback amount of £16.
Each member has their own maximum benefit limit, so if an employee wished to cover his or her spouse and children, they would be entitled to claim for their own treatments without worry of using up the whole family’s benefit limit. Children often have a reduced maximum benefit, largely due to having free NHS dental until 18 years of age.
With cover starting from just £1 per week per employee whilst allowing access to benefits from day one, health cash plans are becoming more and more popular as a cost effective solution to providing a Health & Wellbeing related benefit to the whole workforce.