Medicash and Medex Protect have jointly launched a hybrid corporate private medical insurance (PMI) plan aimed at families.
Brokers can now offer employers an alternative to child PMI cover that can address the historical cross subsidy affecting premiums and P11D liability and in doing so save money whilst providing a wide range of unique benefits.
Medicash Family Care has been developed to help parents and guardians meet the costs of caring for sick children irrespective of whether or not the parent has PMI.
Now, families can claim money back to help with the ancillary financial burden of a sick child.
Cover includes consultations and diagnostic tests in addition to costs not typically covered by PMI such as overnight accommodation near to the treating hospital, out of pocket expenses, car parking, additional childcare cover and kennel and cattery fees.
Private surgery cover can also be provided through Medicash Family Care Protect.
Paul Gambon, sales director at Medicash said: "A family coping with a sick child may be dealing with a huge amount of stress, worry and expense which will have a direct impact on the workplace. The Family Care range is specifically designed to help address one of the most challenging issues an employee can ever face."
Richard Holden, commercial director at Chase Templeton said: "There has been a huge and serious gap in the market that many clients and advisers will have been wholly unaware of until now.
"This new product addresses key issues and provides valuable, practical financial support regardless of whether treatment is given privately or on the NHS."
