Groupama Healthcare has unveiled a new cash plan ' Cashwise ' aimed at reducing sickness absence in ...
Groupama Healthcare has unveiled a new cash plan ' Cashwise ' aimed at reducing sickness absence in the SME market.
The plan helps staff receive regular health checks and seek treatment early. It is to be distributed through Groupama's network of brokers, intermediaries and affinity partners.
Premiums are not related to age or claims history and the plan has a qualifying period of only 13 weeks, compared to the industry standard of 26 weeks. Full dental and optical costs refund, personal accident and accidental death covers are included.
It also includes redundancy premium protection and a help line offering advice and emergency assistance in a number of key areas, including stress. The plan comprises three levels of cover ' each includes cover for dependent children aged below 18 living with the insured.
The product marks the first in a new range of healthcare initiatives from the insurer. Bruce MacLellan, head of marketing at Groupama Healthcare, said: 'We are looking to launch risk management products, specifically to manage the risk of absenteeism, sickness and stress, with small businesses as our main focus. This is the first step in our move to becoming a major provider of health management products, with a more holistic approach than just private medical insurance.'
Cashwise is being released in co-operation with cash-plan provider HealthSure, who will underwrite some of the plan's benefits and provide claims payment administration.
Recent HealthSure research indicates 30% of the population is put off basic treatments due to cost, while businesses lose £13bn a year to absenteeism.
