Axa PPP Healthcare HSA brought out a healthcare cash plan called cashback, which has three levels of cover and a range of 23 benefits.
Cover is available on a single or joint basis and full cover for children is provided free. Premiums are payable on a weekly, monthly or annual basis.
Under the plan, policyholders get 50 per cent of the cost of dental treatment up to £45 for level one cover, £90 for level two cover and £135 for level three cover. There is also a separate dental accident benefit which pays out a lump sum of up to £10,000 on all levels of cover.
Half the total cost of optical benefit is also payable at £35 for level one cover, £70 for level two cover and £105 for level three cover. This type of benefit has a six-month deferred period, while other benefits such as childbirth and psychiatric in patient treatment have a 12-month waiting period.
Some providers such as HSA provide separate plans for individuals and families. The HSA individual and family plans are similar products to the Axa PPP Healthcare plan. However, the HSA plans offer a wider choice of six levels of cover, but premiums are payable on a weekly basis only.
The HSA plans are slightly cheaper than the Axa plan. Level one single cover under the Axa plan is £1.11, while level one of the HSA individual plan costs £1.10 a week. Joint cover under the Axa plan r costs £1.85 a week and £1.80 a week with the HSA family plan. However, the benefits with Axa are slightly higher than those of HSA.