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Travel Risk Professionals Healthcare Cash Plans
Discover how Healthcare Cash Plans can benefit your business by managing everyday healthcare expenses, reducing absenteeism, and boosting employee morale.
What are Healthcare Cash Plans?
Healthcare Cash Plans is a scheme you can offer employees providing a practical way to manage everyday healthcare expenses, such as dental check-ups, eye tests, and physiotherapy. By paying a monthly premium, your employees can claim back costs up to a set limit, depending on the plan you choose. These plans not only help control routine health costs but can also come with added perks, such as health advice and discounts, ensuring your team stays healthy and motivated.
What do Healthcare Cash Plans Insurance cover?
Healthcare Cash Plans cover a range of everyday healthcare expenses. These typically include:
- Dental check-ups
- Eye tests
- Prescription costs
- Physiotherapy
- Alternative therapies like acupuncture
Policyholders can claim back a portion of these costs, up to a set limit, depending on your plan. Additionally, some plans can offer benefits like health and wellbeing advice, helplines, and discounts on health-related products and services.
Which Businesses can Healthcare Cash Plans Cover?
Healthcare Cash Plans can cover a wide range of businesses, from SMEs to large corporations. Here are some examples:
- Small and Medium-sized Enterprises (SMEs): Typically covering businesses with 1 to 250 employees, these plans offer tailored benefits to support your employees’ health and wellbeing.
- Limited Companies: You can provide cash plans to employees, promoting a healthier workforce and reducing absenteeism.
- Large Corporations: With more than 250 employees, these businesses can offer comprehensive cash plans, often at lower premiums due to group size.
- Startups: Cash plans can be an attractive perk to attract and retain talent in a competitive market.
- Manual Workers and Manufacturing Firms: As a low-cost alternative to full health insurance, healthcare cash plans are an ideal way to support frontline employees doing physically demanding jobs.
These examples highlight the flexibility of Healthcare Cash Plans in catering to various business sizes and types, ensuring your employees receive timely healthcare support.
Why choose Jensten Insurance Brokers?
Our experienced Employee Benefits consultants are ready to assist with all your benefit needs, from private medical insurance to critical illness cover. We’re here to provide independent, obligation-free advice tailored to your unique requirements.
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Healthcare Cash Plans
To help you learn more about the potential Employee Benefits best for your business, here is our frequently asked questions. We hope they are of use, but if you’d like some independent advice from our employee benefits consultants, please call us and a member of our experienced team will be happy to help.
Healthcare Cash Plans offer several advantages for businesses:
- Reduced Absenteeism: Addressing minor health concerns can prevent them from escalating into bigger problems that require extended leave.
- Increased Productivity: Employees who feel like their wellbeing is being supported are more likely to be engaged and focused at work.
- Improved Morale: Offering Healthcare Cash Plans demonstrates a commitment to employee wellbeing, boosting morale, and fostering a positive work environment.
Cover for pre-existing conditions varies by provider. Some plans may cover them (either immediately or after a waiting period), while others might exclude them. It’s important to check the terms and conditions of your specific plan.
Yes, many of our Healthcare Cash Plans can allow you to add family members, such as a spouse or children, to your policy. This can provide comprehensive coverage for your entire family.
Healthcare Cash Plans reimburse routine healthcare costs, while PMI covers major medical events and emergencies. Cash plans are generally more affordable and focus on everyday health expenses.
Some plans can include coverage for mental health services, such as counselling and therapy sessions. Coverage varies by provider, so it’s important to discuss this with us if it’s something you are interested in providing for your business.
The cost of Healthcare Cash Plans varies depending on the insurer and the level of coverage you choose. Several factors can be expected to impact the cost of your plan, including:
- Number of Employees: Larger groups can often benefit from lower per-employee premiums due to economies of scale.
- Type of Business: High-risk industries may face higher premiums due to an increased likelihood of claims.
- Employee Demographics: The age and overall health of employees can impact costs, with older or less healthy workforces typically incurring higher premiums.
- Location: Businesses in areas with higher healthcare costs may see higher premiums.
- Level of Cover: More comprehensive plans with higher reimbursement limits and additional benefits will generally cost more.
These factors help insurers determine the appropriate premium for your business, ensuring coverage meets the specific needs of your workforce.
