Health Cash Plans
An insurance policy that helps employees claim money back on everyday healthcare costs.
What is a Health Cash Plan?
A health cash plan is an insurance policy that helps employees claim money back on everyday healthcare costs such as visits to the dentist, opticians or physiotherapy. It's an affordable way to support your team's wellbeing while reducing their out-of-pocket expenses for essential health services. Cash plans ticks many boxes for HR and reward professionals. They are a low-cost alternative to private medical insurance and get high levels of employee engagement. Cash plans are starting to offer an ever richer suite of health and wellbeing services to go along with them such as Virtual GP services and Employee Assistance Programmes (EAP).
Corporate cash plans are increasingly becoming a popular benefit to have. They are available for a monthly premium, making it a benefit with a predictable cost that is highly utilised by staff which leads to improvements in employee satisfaction, retention and productivity. Companies can adopt a modular approach to cash plans, where services such as the Virtual GP can be taken out of the offering to reduce price – particularly where such services are duplicated elsewhere in an employer’s benefits offering (through their group risk or private medical insurance).
How is a Cash Plan different to Private Medical Insurance?
While private medical insurance is valuable for supporting employees during unexpected medical events, cash plans offer an affordable way for employers to help staff manage everyday healthcare costs, which can quickly add up. If your objective is to provide coverage for major needs such as surgeries, hospital stays, or serious conditions like cancer, private medical insurance may be more suitable. However, if you’re looking to support your employees with routine healthcare expenses—such as dental care, physiotherapy visits, and eye appointments—cash plans can be an effective tool for managing these ongoing costs and promoting employee wellbeing.
What Cash Plan features should you look for?
- Your cash plan should cover a variety of different treatments such as dental, optical, physiotherapy etc.
- Ability to be modular so you can save costs on services you have elsewhere e.g. Virtual GP
- Availability of appointments for your staff
- How easy it is to make a claim
- How quick employees get compensated after they make a claim
- All claims and compensations should be available through a mobile app
What are the key benefits of a Corporate Cash Plan?
- Helps employees budget for everyday health care expenses
- Low monthly premium compared to private medical insurance
- Choice to cover the whole family for added peace of mind
- Choice of the healthcare practitioner that you want to see, plus there is no need for a GP referral
- Cover for pre-existing medical conditions
- Access to a range of benefits such as medical helplines and Virtual GP access
Description
Access to affordable healthcare services plus everyday wellbeing support, rewards and discounts.
Small to medium-sized UK businesses seeking affordable healthcare benefits
Pricing starts at £15.50 per employee per month.
Supports over 870,000+ members and over 1,200 businesses. Customers include easyJet, Parcel Force and Hastings Direct
- · 24/7 GP Helpline
- · Mental Health Support
- · Fast-Track Diagnosis
- · Physiotherapy & Recovery
BHSF is a prominent provider of health cash plans to nearly 6,000 public and private sector businesses across the UK.
SMEs and mid-sized businesses in the UK
Employer-funded plans start from £5.50 per employee per month
Supports over 5,000 companies, including Trident Group, Birmingham City Council and Carlsberg
- · BHSF Connect App
- · 24/7 Mental Health Support
- · Occupational Health Services
- · Financial Wellbeing Tools
Health Shield is a leading provider in the health cash plan sector, ranking as the second-largest in terms of paid-for corporate memberships.
Small and Mid-market companies.
Not listed on their website but offers 4 package options: Select, Tailored, Flexible and Corporate.
Over 400,000 customers, including Fujitsu, West Midlands Railway and ISIO.
- · Health Cash Plan Reimbursement
- · Online and Mobile Claims
- · Employee Assistance Program (EAP)
- · Health Screening
Offering low-cost, no-fuss health cash plans that are supported via a range of digital tools that protect your ongoing health both at home and at work.
Small to medium-sized businesses looking for affordable health cash plans
Starting at £4.65 per employee per month, with a variety of policies available.
Over 600,000 policy holders with customers including Timpson and Matalan
- · My Medicash App
- · Health Screenings
- · Mental Health Support
- · Tailored Plans
Access to dental treatments, visits to the optician, complementary therapies and much more.
Mid-market and enterprise businesses looking to support their employees with access to affordable healthcare
It depends on business size and health cover package. Contact Simply Health for a quote.
Covers 2.5 million members and 12,000 businesses, including Arnold Clark
- · Online Health Assessment
- · On-Demand Healthcare
- · Digital Claims Process
- · Cashback on Everyday Health Expenses
Westfield Health is a leading provider of workplace wellbeing solutions, specializing in health cash plans and tailored services to enhance employees' mental, physical, and financial health.
Small to medium businesses seeking affordable, accessible health benefits.
Starting from £6.52 per employee per month. Pricing packges vary for small businesses and corporates (200+ employees).
Over 8,000 employers in the UK including Corela, Fellowes, Sofology and O'Kane Group.
- · Mental Health Support
- · Hospital Support
- · Virtual GP Service
- · Wellbeing Personal Assistant