This company paid health cash plan offers a choice of five cover levels, with maximum annual benefits for Level 1 and Level 5 plans being (100% of cost unless otherwise shown):
Level 1 Level 5
Optical, 100% of cost up to £65 £220
Dental charges, 100% of cost up to £65 £220
Specialist consultations and tests £300 £600
Professional therapy (physiotherapy; £180 £550
hypnotherapy, and reflexology)
Chiropody £50 £150
Health screening £100 £300
Benefits also cover dependent children. All plans include Paycare’s 24/7 Employee Assistance Plan. There are also three additional benefits available (but not for children or partners). These are:
Personal accident cover up to £10,000 (under 70s only).
Inoculation/vaccination cover up to £50 a year
Wellbeing/alternative therapies cover up to £50 a year.
Level 1 and 2 plans are entitled to one free Addition (chosen by the employer and applied to all members), Levels 3 and 4 to two and Level 5 to all three.
Premiums range from £1.00 a week for Level 1 up to £5.00 a week for Level 3 plans. Partners can be added, but their premium is 25% higher, so adding a partner on Level 1 cover would cost an extra £1.25 a week on top of the employee’s £1 a week. Plans may be subject to an initial 13 week waiting period. Benefits are usually paid within 48 hours direct to the employee’s bank account.
What They Say
Chief executive Gail Maltby said: "Additions addresses the many concerns of both employer and employee. It's a healthcare plan designed for today's difficult business climate. Every aspect of the innovative Additions' company paid plan has been carefully weighted against the expectations and desires not only of the employees that will draw upon the plan but also the pay and benefits team that offer the scheme."
What We Say
"It is hard to find something new to add to an cash plan that does not come across as a gimmick, but Paycare may just have done so. Additions offers what has now become fairly standard cash plan benefits and is aimed at employees with a keen eye on their budgets – even the top of the range plan costs just £5 a week per employee.
"What makes Additions different are the additions. The employer can choose which to have on most plan levels, giving both choice and an incentive to upgrade cover, especially at outset. That's quite a neat idea and one that can encourage upgrading of benefits (and premiums), either at outset or later.
"But, there is usually a 13 week initial waiting period, and the employee cannot choose their own additions. That said, overall this plan is likely to find its way onto many firm's shortlists as they look to meet their duty of care responsibilities and provide valuable and valued benefits for all their employees too."