Simplyhealth has revamped its company paid health cash plan package, to now include a core plan that provides a choice of three cover levels, providing 100% reimbursement (subject to a maximum annual benefit for each) for dental cover (up to £180 a year on a Level 3 Plan) including for accidents (up to £500); full body health screening (£300); optical (£180); physiotherapy/osteopathy/chiropody/podiatry/chiropractic; acupuncture and homeopathy (£450), diagnostic consultation, tests and scans (£500) and a 24/7 health and counselling helpline. The core plan costs £5, £10.75 or £17.50 per month per employee and partners can be added at extra cost, if they are under age 70. Children are covered free. Pre-existing conditions are covered and there are no initial waiting periods.
The core plan also includes discounted gym fees, online health information, a 24/7 helpline and provides full European cover. In addition, up to six optional covers can be added. These are:
* Employee assistance programme, up to six sessions per issue (65p per month per employee).
* Hospital (£20 per day/night up to 20 days a year) and accident (up to £10,000 for permanent total disability) cover (£1.30).
* New child payment of £200 per child (87p).
* Absence management programme (£1.08).
* PMI excess, up to £300 a year (from £1.08).
* Primary care (£1.50). This provides up to £75 for GP fees and vaccinations, £25 for prescription charges and a 24/7 GP helpline.
What They Say
Head of employer marketing, Howard Hughes, said: “Over the past few years the corporate paid health cash plan market has seen considerable year-on-year growth. In times of economic difficulty, organisations are choosing to invest further in the health of their employees, over traditional remuneration benefits such as pay rises and bonuses. Our new plan will help organisations to deliver a healthcare package that is both relevant and useful, from as little as £5 per employee per month.”
What We Say
"By breaking down the cover into a core plus options menu, Simplyhealth is making paying for an HCP simple in that employers need add only the options they want (or want to pay for) or most value. By focusing on the monthly rather than weekly cost, Simplyhealth is also helping move the market away from the £1 a week, pile it high and sell it cheap, philosophy that has probably cost the industry by over-focusing on cheapness rather than value. To further help, in the first 30 days, employees can upgrade their employer paid benefits, paying for any upgrade themselves.
"The challenge now will be to get the HCP message across to employers and employees who are already carefully counting the pennies."