Group healthcare cash plan
Minimum group size:
£1 a week single cover,
£1.50 a week joint cover
Full cost of dental treatment within 12 months up to £50, £100 or £180 depending on level of cover, full cost of optical care within 24 months up to £50,£100 or £150, full cost of diagnostic tests within 12 months up to £100, £200 or £300, specialist consultations within 12 months up to £200, £400 or £600, full cost of acupuncture, chiropractic, osteopathy, chiropody, physiotherapy within 12 months up to £150, £300 or £500, personal accident cover up to £5,000, £10,000, £15,000, 24 hour helpline, children's benefits up to half of adult benefits
Up to six face-to-face counselling sessions for employee only at extra cost of 25p a week
Tel: 0161 234 2820
HealthSure one is a group healthcare cash plan which offers premiums from £1.
Gissings executive, healthcare Sharon Carter feels the plan is ideal for smaller companies that offer private medical insurance only to senior members of staff and larger companies looking to add dental and optical cover as a top-up to PMI.
However, she points out that the amounts reimbursed act as a subsidy as the total cost of treatment is not covered. Despite this, she feels the benefits are generous for a cash plan. She adds: “Generous remuneration is offered, which will enable intermediaries to work in a time-cost effective manner.”
According to Carter the premiums are ideal and the product allows spouses to be covered at a rate that she regards as generous compared with PMI products. However on the down side Carter is concerned that the product literature could be misleading. She says the reader's eye is drawn to a statement in bold type which says the full cost of treatment will be paid, but further reading reveals there are limitations.
Carter says: “HealthSure is looking to implement a 10 member minimum limitation for this product. However, it would be beneficial to reduce this to three members, as this will attract start-up businesses with a small budget. Such businesses also have the potential to grow in size quite rapidly.”
Bupa's cash plan is viewed as a possible competitor. Carter says: “Not only is Bupa a well known insurer but it also covers a wider range of treatments such as worldwide emergency cover and home help.”
Suitability to Market: Good
Premium Rates: Good
Adviser Remuneration: Good