Employee health cash plans are an employee benefit that companies can implement to help their staff cover the cost of everyday healthcare services. Learn more about what they have to offer in our insight.
Employee health cash plans are an employee benefit that companies can implement to help their staff cover the cost of everyday healthcare services. They may be used as an alternative to other types of insurance, such as business health insurance, as they offer an alternative way to provide health related support.
Employee health cash plans are paid for by the company and provide a direct benefit to any staff you choose to be covered under the terms.
Covered employees may be able to claim back their expenses for some private health services, such as consultations, treatments, tests, scans and prescription charges, up to an annual limit. Precisely what's covered and how much the limit is will depend on your policy, but in short, employee health cash plans allow you to cover some of the costs of private healthcare for your employees.
Employee health cash plans may cover a range of diagnostic tests, consultations, and therapy services. One of the many benefits of health cash plans is they may allow your employees to claim back expenses for pre-existing conditions, as well as any new medical problems. Some examples include:
Employee health cash plans may include coverage for optical-related treatments, such as eye examinations, prescription glasses, contact lenses, laser eye surgery, etc.
Employees may be able to claim back expenses for dental treatments such as check-ups, fillings, dentures, injuries, cleanings and other preventative care.
Cover for fees related to consultations, tests and scans with dietitians, occupational therapists, GPs and other medical staff.
Help towards the cost of prescription charges from the NHS or private healthcare.
Your plan may allow employees to claim back their physiotherapy, osteopathy, chiropractic treatments, acupuncture, chiropody and podiatry expenses.
Some health cash plans may allow you to include coverage for health screenings, which aim to help employees understand their health and detect any current or future health concerns.
You may have the option of extending cover to employees' families so that their partners and dependents can claim back under the same terms.
Employees may be able to claim back some of the costs they pay for hospital admissions for inpatient and outpatient visits.
Employee health cash plans may allow your employees to access health services that were otherwise unavailable to them due to cost and other factors. The benefit may vary from person to person, but some examples include:
Many business insurances benefit your employees and business in varying ways. Each of them works slightly differently, and understanding these differences may help you to choose the most beneficial cover for your workforce. Some examples of how employee health cash plans differ include:
As with all employee benefits, it’s important to understand how UK taxation applies to the business and any individuals who are benefitting from the cover. We recommend that you consult with your accountant and/or financial adviser to understand how your business will be affected, but an example of how it may work is:
There are many employee health cash plans available at varying levels with different cover options and terms. To help you compare your options, we offer a free service where we'll learn about your needs and search the UK market for an appropriate policy.
We work with many employee health cash plan providers in the UK, and we'll aim to find you the most inclusive policy at the most competitive price. You're under no obligation to purchase, and we're here to support you before, during and after purchasing a policy. Please complete the form below, and a member of our team will be in touch.
Our advisors are available to answer any questions, compare or renew policies, and help advise you on insurance needs. To speak to someone, provide some contact information, and a member will be in touch.