Health cash plan schemes are designed to help employees claim money back towards everyday healthcare costs. Not only do they provide cash reimbursement for certain treatments relating to dental, optical and therapies, but many schemes can offer extra benefits that provide a monetary allowance for NHS overnight stays and for prescriptions.
Cash plan policies are low cost but offer high value for employees, which is the ideal tool to help with retention and sustainability of a large growing company. Employees benefit greatly, as no one can predict what is around the corner where health is concerned, and cash plan can provide a great way to help budget for the essential, everyday health costs we all incur.
What Exactly Does It Cover?
- Dentists visits including check-ups, x-rays, hygienist and investigations.
- Optical costs such as eye tests, prescription glasses and contact lenses.
- Complementary therapies: physiotherapy, osteopathy, chiropractic, acupuncture, podiatry treatments and homeopathy.
- Consultations and hospital in-patient visits.
- Most will offer free cover for up to four children.
- A 24/7 helpline for any matters relating to health, legal, medical and tax.
But How Do They Work?
It’s simple really – it’s just a matter picking your plan, attending your appointments and then claiming back the costs from your insurer.
Pick Your Plan
Firstly, you need to choose your level of cover and monthly payment option. There are plenty of options out there and Shire can help you find the right one for you and your employees.
Cash Plan schemes are easy to join, with no complicated medical forms and the majority of the time, there’s no need for medicals. Employees aren’t required to fill in forms either, nor will any new joiners to the plan. All that’s required is a member list detailing member’s full names, date of birth, and address to join the scheme.
The process is straightforward, just follow four steps:
- Attend your appointment at your dentists, optician or other recognised health care practitioners
- Make sure you obtain a receipt!
- Send your insurer the completed claim form and the aforementioned receipt
- Your insurer will then transfer the money to your account, usually within 5 to 7 working days
In most cases, there’s no need to inform your provider before your appointment or treatment so the process is simple and the payments are prompt.
A Cash Plan scheme is great for people who want to stay on top of their health and budget for the routine aspects of health care, whilst providing a little safety net for unexpected costs.