With family budgets feeling the squeeze and the expenses associated with healthcare on the rise, increasing numbers of people are considering a health cash plan as a possible solution. This blog post aims to give you an impression of how a health cash plan functions and how it could potentially be beneficial for you and your family.
A health cash plan is a variety of health cover which offers a useful safety net for individuals and families who are worried about healthcare expenses but are unable or unwilling to pay for standard Private Medical Insurance (PMI). Health cash plans generally offer significantly lower monthly premiums than PMI schemes, making them more suitable for many families. Some health cash plans provide cover for spouses and dependent children at no additional cost, making them a prudent investment for households.
How does it work?
A health cash plan works by compensating you for your health costs after treatment, in return for a monthly premium. These monthly payments can start from as little as £1.23 per week, making health cash plans an affordable form of health coverage. The process for claims is uncomplicated and repayments can often be made much faster than they can be with traditional health insurance. Some cash plan providers are able to offer reimbursement five working days after receipt of a completed claim form. A lot of customers feel reassured knowing that they will be reimbursed as speedily as possible following their health-related expenses.
What are the benefits?
The majority of health cash plans will cover a range of medical treatments and expenses including opticians’ bills and dental work, which are some of the most significant costs associated with family healthcare. Additionally, many plans offer cover for therapy treatments such as physiotherapy, homeopathy and acupuncture, and these plans can be taken out by people with pre-existing conditions, unlike the majority of health insurance schemes.
There are also benefits for people looking for second opinions or specialist consultations, having in-patient treatment or day surgery, or even planning to have a baby. Further benefits include a range of telephone and online resources to ensure peace of mind. These resources can sometimes allow individuals and their families to proactively manage their healthcare, preventing minor ailments from turning into major problems.
There are a host of reasons why many people are finding health cash plans better suited to their needs than conventional medical insurance. This is increasingly true as families feel the need to keep abreast of their finances and make their everyday budgets stretch further. In a situation like this, a health cash plan can offer peace of mind for a much lower monthly premium than the majority of PMI schemes.