Cash plans are a popular benefit with both employers and employees. The wide array of benefits allow employees to claim money back against their everyday health care costs. The need for cash plans has become more important with the cost-of-living crisis however there are lots of reasons why having a cash plan is a great idea.
Here is our top ten…
(1). They are low cost! Dependent on your company size and individual business circumstances cash plans start from as little as £60 per employee PER YEAR!
(2). Not only are they low cost for the business but the small premium also means minimal P11D impact for the employee.
(3). Employees rate them very highly as they allow immediate savings on their everyday healthcare costs. The majority of the providers don’t apply waiting periods to many of the benefits, so, employees can use them straight away.
(4). A lot of providers will cover pre-existing conditions meaning members can claim regardless of their own health history.
(5). The optical cover on cash plans will cover off your company’s responsibility for providing eye tests to those who use VDUs.
(6). It’s a perfect benefit to help with the cost-of-living crisis with immediate savings on things your staff have little choice to spend their money on. Many also have access to retail discounts, increasing further their everyday savings.
(7). It’s not just dental, optical and physiotherapy. A cash plan gives staff access to a wider range of health therapies and proactive treatments, such as sports massages, osteopathy, chiropractic and a wide array of other health treatments. You can even get discounted gym membership with a number of providers.
(8). Mental health support; most providers give staff access to an Employee Assistance Programme, an essential tool in an employer’s armoury to help support mental health while fulfilling responsibilities of employee care
(9). Access to essential online health advice, with some providers even giving access to virtual GPs, which saves time and stress for employees trying to see their NHS GP and employers with less time off.
(10). Lots of providers will also give access to a wide range of wellbeing tools to help staff navigate life’s challenges with some giving online health and lifestyle assessments with recommendations on how to improve employee wellbeing.
So, low cost, popular and effective against employer responsibilities, a win, win, win staff benefit.
With such a wide choice of providers it may seem daunting to find the right choice for your organisation. But there is a simple solution… Just reach out to advo.