Health cash plans are a simple and affordable way for employers to look after their employees, as Philip Wood explains
Even with a limited budget, a health cash plan can provide employers with an affordable solution that proactively looks after the health and wellbeing of their employees. They can claim cashback up to chosen annual limits for dental appointments, eye tests, chiropody, prescriptions, glasses, hospital costs and much more. By simply having access to regular check-ups this can help to prevent health issues escalating in to something much more serious. Furthermore, health cash plans can provide support for musculoskeletal conditions, the number one cause of lengthy absence by providing for physiotherapy treatments and sports massage.
Bespoke Health cash plans
The beauty of a health cash plan is that the benefits and budget can be tailored around the needs of each individual company, so no one size fits all. For example, a larger company might have the resources to provide certain benefits themselves whereas a smaller firm might need the support externally. Health cash plans can also be designed to fit on a flexible benefits platform.
Unlike private medical insurance, which is usually only offered to managers and executives due to high costs, health cash plans can provide affordable cover for all employees.
Employers have the option to choose between a company paid or a voluntary plan – paid by employees through their payroll.
More employers are proactively looking at new ways to care for their employees. Not only is it the right thing to do, it makes good commercial sense. The average cost of absence per employee is £609 a year. While government figures state that more than 130 million days are being lost to sickness absence every year, costing the national economy £100bn a year*.
Health cash plans can help employers to reduce absenteeism, increase retention, motivation and productivity. They can also improve employee engagement and support duty of care by helping to reduce stress in the workplace and assisting with health and safety compliance. Some health cash plans also offer occupational health support to assist HR teams with a wide range of health and wellbeing issues.
Health cash plans are valued by employees because they offer a wide range of preventative services and benefits that cover different treatments, check-ups and alternative therapies. Many plans offer voluntary optional upgrades including cover for partners, while some also include dependent children at no additional cost, providing employees with extra peace of mind.
Today’s health cash plans offer such features as:
Everyday health benefits
• Cashback up to chosen annual limits on dental, optical and physio benefits that can cover everything from tooth whitening and contact lenses to laser eye surgery.
• Hospital cover with cashback on a range of hospital benefits, including specialist consultations, X-rays and MRI scans.
• Some plans also offer innovative benefits such as personal accident protection, one-off maternity payments and domiciliary support after a hospital stay.
• 24/7 counselling and support helplines that provide a wide range of advice including help for mental health issues.
• Virtual 24/7 GP surgery with consultations via phone or webcam for those who struggle to get an appointment with their NHS doctor or are time restricted.
• Treatments to help relieve pain such as physiotherapy and acupuncture plus alternative therapies including hot-stone massage, reiki and reflexology.
• Cashback towards health screens plus access to online health and wellbeing coaching tools.
• Discounted gym membership to help employees keep fit and healthy.
Looking after the health and wellbeing of your employees doesn’t have to mean a huge commitment in terms of costs and resources.
Health cash plans are easy and quick to implement, and can help employers sustain a healthy and motivated workforce whatever their budget.
And that has to be good news in today’s increasingly demanding workplace.