A benefit which has been available for many years; this concept is now enjoying a popularity revival. These low-cost plans pay pre-defined sums towards the cost of a range of health expenses such as optical, dental, physiotherapy, complementary medicine, maternity and hospitalisation that can often create financial difficulties.
These schemes also complement Private Medical Insurance cover by meeting incidental expenses relating to specialist consultants, a hospital stay, or covering an annual excess where applied.
Cash plans are often made available to employees who are not covered by a company Private Medical Insurance scheme and who pay premiums on a ‘voluntary’ basis. Typically, premiums do not increase with age and no medical examination is necessary.