If your business employees 3 or more members, you should consider the positive effects of implementing a cash plan; providing your staff with help towards everyday healthcare costs. Cash plans start from as little as 85p per person per week and provide cash back for treatments such as dental, optical, physiotherapy, chiropody, specialist consultations and health & wellbeing solutions.

Cash plans are easy to use, once your members are enrolled they can claim their cash back (up to the benefit levels chosen) by downloading a claim form and sending the original receipt to the cash plan provider, they will then receive the money back for eligible claims and with some providers have a turnaround of only 48 hours this ensures that no one is out of pocket for long. There have been some changes in the cash plan market and some providers allow their members to process claims online, making the process even easier.

Benefit levels can vary in accordance with your budget and can be effective in helping to improve absenteeism and improve the wellbeing of employees. For larger business’s cash plans can be tailored to suit your own requirements, enabling you to have control of the options you provide.

One of the most exciting benefits you can implement is the option to claim back any excess you may have on your private medical insurance policy and many companies are now looking to run a cash plan alongside their private medical insurance for this very reason. A cash plan is an effective method to make your staff aware that you care about their health and wellbeing and can be a great way to assist you in retaining valuable employees as well as helping you comply with the duty of care you have as an employer. If you would like more information on cash plans or would like to discuss your healthcare options in more detail, please do not hesitate to contact us, we look forward to helping you.

Cash plans for Individuals

If you would like to take out a cash plan for you or your family there are individual cash plans available to you. The benefits are similar to those on the Business cash plans enabling you to claim for costs relating to Dental, Optical, Physiotherapy, Chiropody, Hearing aids, Personal accident Protection, Osteopathy and many other everyday healthcare costs.

You do not need to have a medical prior to joining and there are many different benefit levels you can choose from depending on your budget. The Health and Wellbeing sections cover a whole host of alternative treatments including Acupressure, Hopi Ear Candles, Reiki, Kinesiology and Indian Head Massage to name but a few.

Many providers do have a minimum and maximum age limit for joining their Cash plans whether on a company scheme or an individual policy. We would recommend that you speak to one of the SMP Healthcare team to see whether there is a cash plan available to suit your own specific requirements.

There are many providers for Cash Plans and some offer 100% cash back whilst others limit this to 75%/ 80% depending on the benefit section you are looking at.

A Health Cash Plan is not a substitute for Private Medical Insurance however it is a very cost effective method of obtaining help with the cost for your everyday healthcare needs. The two plans can work together as a brilliant complete solution to Healthcare Insurance or indeed can be purchased separately.