Selling cash plans alongside high excess private medical insurance (PMI) is a cost-effective means o...
Selling cash plans alongside high excess private medical insurance (PMI) is a cost-effective means of providing a high level of healthcare benefits in the workplace, according to the Hospital Saturday Fund (HSF).
HSF believes employees covered by a PMI policy with a higher excess could use benefits under a cash plan to subsidise their excess, before their insurance kicks in. They will also encourage employees to receive more healthcare.
Keith Bradley, chief executive of HSF, said: 'Setting a relatively high PMI excess means premiums cost much less than they would do otherwise, making it a more affordable benefit for an employer. The employee would be liable for this excess, but could meet it by using the hospitalisation benefits from a cash plan.'
HSF, which offers cash plans from £1 to £12 per week, has also launched an information line for members of its schemes. The telephone helpline provides information on private medical treatment and also covers areas such as stress, legal issues and discounted health screening. Members can also negotiate prices for treatment and discuss funding options.
Stephen Duff, sales and marketing director at HSF, said: 'If members need treatment, they can use our trained professionals to obtain private treatment perhaps at a better price than they could negotiate themselves.'
