Health Cash Plan
What is a Health Cash Plan?
A cash plan is a type of health insurance that provides reimbursement for everyday healthcare expenses, such as dental treatment, optical care, physiotherapy, and prescription costs. Unlike private medical insurance, which covers large or unexpected medical events, cash plans help employees manage routine health costs by offering a set allowance for specific treatments and services. Employees claim back a percentage of their expenses, usually up to a capped amount.
Benefits to Employer
Offering a cash plan is an affordable way to enhance wellbeing and show a commitment to staff health. It helps reduce absenteeism by encouraging employees to seek preventative care, like regular dental checkups or physiotherapy. Cash plans are easy to implement and provide a tangible benefit that can improve employee retention and recruitment by promoting a healthier, more engaged workforce.
Benefits to Employee
Cash plans allow employees to claim back everyday healthcare expenses, reducing the financial burden of routine treatments. This can make healthcare more accessible and affordable, helping employees stay healthier and more productive. Many cash plans also offer flexibility, allowing employees to use their allowances on services that meet their specific needs.
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Ben is easily the most engaged initiative we’ve ever had. It gets everything to everyone in different locations, and I can’t even tell you how much time it’s saved us.
