A health cash plan is a type of health insurance that’s designed to help your employees deal with the costs of everyday healthcare. Health cash plans can be provided at a low cost to you, and so could be a cost-effective benefit to help reward and retain your workforce.
The benefits of providing a health cash plan:
- Provides cash back on preventative health screenings and treatments; sickness absence could be reduced and saving money for your business;
- Provides a financial benefit to your employees with money back for everyday healthcare needs, including glasses and contact lenses;
- With less expensive healthcare costs your employees are more likely to attend regular check-ups;
- Earlier identification of optical issues such as digital eye strain, headaches and other vision problems caused by long-term computer use; and
- Encouraging regular health check-ups can help uphold a healthy and safe work environment.
Implementing a cash plan for your workforce doesn’t have to cost the earth, in fact a cash plan can be even be set up as a fully employee paid (voluntary) benefit, or a mix of company and employee funded.
Through a cash plan, your employees can reclaim costs in part or in full for treatments such as eye tests, prescription medications, dental check-ups, physiotherapy and GP charges. A plan can have set reimbursement limits, and can include cover for dependant children.
Offering a health cash plan as part of your employee benefits package shows the value that you place on your employees’ health. Quality employees are attracted to a company that proves it cares, and those that feel cared for are more likely to stay.