Paycare, a cash plan provider based in Wolverhampton, has launched an entry-level cash plan for small businesses which aims to support employees’ mental, physical and financial wellbeing.
The launch of Paycare Protect follows feedback from patrons and members of the Black Country Chamber of Commerce, who highlighted the need for more businesses in the region to support their staff’s health and wellbeing.
Kevin Rogers, chief executive of Paycare, pointed out that some businesses do not have the budget to spend on employee packages with bells and whistles, or those new to the idea could think it is something that only big corporates can do.
“However, smaller businesses are critical to the wider economy in terms of employment opportunities, and we wanted to launch a service that brings them benefits as employers too by offering their staff cover for core healthcare services, including optical, dental, and professional therapies,” he said.
Paycare Protect is available to businesses employing over 20 employees and costs just over £4 a month per employee.
It offers cashback on dental, optical, chiropody and professional therapy bills, including physiotherapy, hypnotherapy and chiropractic.
It also includes Redundancy Premium Protection for six months, free cover for any children under 18 and Paycare Perks — an online platform for individuals to access discounts, vouchers and rewards on everyday purchases such as insurance, travel and entertainment.
In addition, employers can choose to introduce an employee assistance programme (EAP) for 40p per employee per month.