Health insurer National Friendly has launched cash plan which provides an annual sum of money that policyholders can spend on a range of healthcare treatments.
The plan One Fund provides provides cover for dental, optical, physiotherapy, osteopathy, chiropractic, acupuncture, and homeopathy, specialist consultations, health screening and counselling.
A consultation scan and physiotherapy allowance is designed to give employees more opportunity to get treatment done privately and avoid any delays for treatment on the NHS.
The cash plan has six premium levels, ranging between £10 and £20 a month. After paying one £40 excess per benefit category each year, the policyholder can claim up to an annual limit of 72 times the monthly premium, which can be claimed in full for any benefit aside from optical and health screening which are subject to an annual limit due to these being elective treatments.
Chief executive at National Friendly, Richard Sear, said: †“The cash plan market is largely formulaic, with many providers covering an extensive range of treatments but offering very low levels of cover. We wanted to develop a product that was different, that stands apart from the others, and believe that One Fund really is a cash plan as you would want it if you could design it yourself.”
For more information on health benefits