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HSA offers cash plan as employee benefit

Healthcare cash plan provider HSA has introduced a cash plan for the employee benefit market, which waives premiums for one month for people who are changing jobs.

The HSA corporate cash plan is available on a company paid or voluntary basis. It has four levels of cover with weekly premiums ranging from £1.70 to £6.80 for individuals and between £3.40 and £13.50 for couples and families.

The plan includes cash benefits for dental and optical care, hospital stays and maternity cash. It pays 100 per cent of the costs of dental treatment and optical care up to specified amounts, depending on the level of cover. For other benefits including physiotherapy, chiropody and allergy testing, 75 per cent of the costs are paid out.

For hospital inpatient treatment, day care or a parental stay with a child, the benefit is between £20 and £60 each day or night, up to a maximum of 20 days or nights a year.

Health Shield&#39s options is another healthcare cash plan aimed at the corporate market. It has two more levels of cover than the HSA plan, which enables weekly premiums to start at a lower level. The highest level of cover is more expensive. Weekly premiums range from £1.40 to £9 for individuals and between £2.40 and £12.50 for couples and families.

For hospital inpatient treatment, HSA pays out higher amounts over a shorter period than Health Shield. For example, people taking out level one cover would receive £12 a night with Health Shield up to 95 nights, or £20 a night up to 20 nights. However, Health Shield provides 100 per cent of the cost of chiropody, physiotherapy and allergy testing, while the HSA plan covers only 75 per cent of costs.

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