Business Health Cash Plans for Employees

Health cash plans are like many other health insurance policies. For a premium payment, health cash policies reimburse members or policy holders for the full or partial cost of various health treatments. A typical policy includes benefits like dental and optical care, health screening, on-site care, physiotherapy, as well as employee assistance programmes or EAPs.

Health cash plans data back as early as the 1870s, when they were first known as Hospital Saturday Funds. Originally, health cash plans were created to help people obtain healthcare they otherwise could not afford. In its early days, workers would pay a penny for every pound they earned towards medical treatment costs. When the NHS (National Health Service) was created, cash plan providers’ restructured services so that members can be reimbursed for care that is not covered by the NHS.

While there are no legal implications around employers who implement cash plans, providing this type of health plan helps business owners and employers to fulfil a duty of care obligations to their employees' everyday health and wellbeing. Employer-paid health cash policies are also treated as a benefit in kind.

With healthcare costs rising increasingly, more employers see health cash plans as a cost-effective means to provide employees the healthcare cover they deserve. These cash plans help cover the gap between the National Health Service provisions and private medical insurance benefits for employees. Today's health cash plan providers are also expanding the kinds of treatment that their policies can cover to include more holistic healthcare practices and disciplines like reflexology, among many other trends and alternative treatments.

Individual Medical Insurance - Compare prices & save money

Health insurances have become more important these days, to ascertain we remain prepared for every eventuality and also have access to best medical aids available during emergencies. There are many insurance providers in the market today, with their extremely  comprehensive personal insurance policies. The challenge remains in picking out the cheapest, yet the best among the whole lot of individual insurance providers when it comes to coverage.

So, with a thorough research and a comprehensive approach, one can buy a medical insurance policy to cover our health care issues and also save money in the process. While cost is the primary concern, one also need to ascertain if the cheapest policy, you are opting for, is providing everything you will require in the long run. 

Hence, there are a few essential aspects that one needs to look at while buying an affordable medical insurance.

Even if you have managed to get hold of a policy that offers the best rates in the market, there are certain terms you need to check and verify. Before taking the further step of committing yourself to buying a policy, ensure if it provides you comprehensive coverage and you are happy with the terms and conditions. Medical policy or the rates they charge depends on how much of your medical expense is covered. In insurance terms, the co-insurance or the percentage that will go out of your pocket for health expenses should be minimal, to make the policy comprehensive as well as affordable.

Similarly, what you have thought as an affordable insurance, might not give you access to the best clinical facilities or hospitals. Hence, it is a primary requisite of any person purchasing medical insurance, to check if they are buying the correct one, in terms of coverage, claims, and clinical facilities,etc.

The easiest way to compare prices and save money is to find a private medical insurance broker that specialises in this field and they will do all the work for you free of charge.