29th May 2020

The benefits of health cash plans

By Paul Midson
Business Development Consultant
Health Cash Plans

Health cash plans are a low-cost benefit that provide employees with immediate value as their costs for routine healthcare expenses can be reimbursed. Typical routine healthcare expenses can include: therapies to help manage/cure joint pain, counselling services to assist with mental wellbeing, as well as optical and dental check-ups.

However, a cash plan is not a direct replacement for private medical insurance. Instead, it provides cover for routine medical expenses rather than offering ‘private’ treatment, and can be hugely beneficial to support any absence programme.

Policies are modular in design, typically offering four or five levels of cover, starting from as little as £1 per week, per employee*. The benefit can be provided on a company funded basis, voluntary basis, or a combination of the two, depending on budget and specific business needs.

When considering a health cash plan, it is worth taking a step back and looking at your absence records and any health/wellbeing issues that may have arisen in your business. For example, a higher than expected percentage of your workforce may be suffering from musculoskeletal conditions, or stress and depression, or your business location may experience particularly high waiting lists for services such as counselling or diagnostic scans.

You can tailor a cash plan to specifically target the areas that are of most importance to your business and your employees. In addition to healthcare, lifestyle benefits are included at no extra cost and cover areas such as discounted gym membership and exclusive discounts & cashback from high street retailers.

Ultimately, health cash plans can provide stability at the core of any benefits package at very little cost. When structured effectively, they can support and enhance other benefits such as private medical insurance and group income protection insurance, helping to reduce absenteeism and increasing employee engagement.

*This is based on information provided by Medicash Ltd -https://www.medicash.org/uploads/files/Plans%20%20Standard/Proactive%20/Proactive%202019/70419_Medicash_

Aston Lark has a specialist Employee Benefits team that can undertake a review of your benefits, identifying any cost savings that can be made and improvements that could be considered. Please contact the Aston Lark Employee Benefits team on 0207 543 2833 or email [email protected].


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