How to choose the right healthcare cash plan provider

So you’ve decided on your budget and what you want to achieve and are ready to investigate cash plan providers. Before you do, consider the following:


  • Benefit levels versus price.
  • Service offered. Does it include account management?
  • The experience of the provider.
  • Does the scheme include added value items, such as access to health information services?

There are many providers on the market so it might be worth considering an intermediary or, if you prefer, research the market yourself and approach suppliers directly.


Intermediaries are a popular choice as they tend to know the market inside out. Matthew Judge, technical director at Jelf Employee Benefits, suggests using an experienced cash plan consultant. He explains: “They can provide a whole market view so the right cash plan provider can be sourced as well as the right plan to match the HR needs of the company.”

Mike Blake, compliance director at PMI Health Group, agrees. “Specialist intermediaries can help businesses to find and structure the most appropriate and cost-effective plan, and advise how this plan might best integrate with other benefits or a company’s overall healthcare strategy,” he says. “A suitable intermediary should have a wealth of information on the cash plans market and the possible products available.”

Approaching suppliers directly
If you decide to investigate suppliers yourself, you may find it is an overwhelming task. James Glover, corporate sales and marketing director at Simplyhealth, suggests researching a number of healthcare providers and then inviting them in to discuss options.

This was the approach that electrical giant Comet chose when sourcing a cash plan provider for staff working at its 253 sites nationwide.

The firm chose three suppliers to submit proposals for comparison before deciding on its cash plan provider, which made it easier to decide on the best fit for the organisation. Since implementing the benefit, Comet has seen a decrease in both absence and labour turnover.


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