A cash health plan can help reduce the cost of routine trips to the dentist or optician. To help you decide if a health cash plan is right for you, we explore how they work and, more importantly, how much they cost.
How does the cash plan work?
When you buy a health cash plan, you will pay a monthly premium, and in return you will be able to claim reimbursement for medical expenses covered by your policy. In most cases, you will pay for the service first and your cash plan provider will reimburse you later.
The amount you can claim back will depend on the policy you have with your provider. Some will allow you to claim 100% of treatment costs up to a certain amount – for example £60, £100 or £200 a year. Once you reach the limit, you won’t be able to claim that particular benefit until you renew your policy the following year.
For example, let’s say your policy covers 100% of the cost of dental treatment up to £90. If you have £90 worth of treatment in one year, you will be able to claim it all back.
How much does a health cash plan cost?
The cost of a health cash plan varies considerably. You can find individual policies for as little as £7 a month, while some will set you back more than £30 (around £360-400 a year).
In general, the more services your plan covers and the higher the claim limit, the more you can expect to pay each month.
Other factors can affect premiums, including your age and even where you live.
Can I buy a joint or family money plan?
Yes, you can buy health cash plans for couples and families, but remember to read the fine print, especially when it comes to adding children to the plan.
Although children can often be added to your policy for free, what you can ask for will vary. Some policies will give children their own compensation for claims, while others will expect children to share them, between themselves or with their parents.
Is a health cash plan the same as private health insurance?
No, private health insurance (PMI) and health cash plans are not the same.
Health cash plans are designed to help you manage the cost of your daily health checkups. PMI, on the other hand, covers the treatment of acute medical conditions. These are short-term illnesses that usually improve with treatment – for example, hernias, broken bones, pneumonia.
Is a health cash plan worth it?
If you regularly go for treatments or use services covered by your policy, a health cash plan can help you budget and keep your wellness costs under control. Of course, the key to getting the most out of your policy is not forgetting to claim back what you’re entitled to.
On the other hand, if you don’t have regular eye exams or don’t have access to other services, you’ll end up paying more into your policy than you’ll get.
Who provides health cash plans?
We’ve rounded up a few health cash plan providers to give you an idea of what’s available. It’s also worth checking review sites and forums to see what policyholders are really saying, especially when it comes to customer service.
BHSF
BHSF offers four levels of cover starting from £8.40 to £31.50* per month. You can claim all your medical expenses up to the value specified in your policy.
Treatments and services include consultations and hospital treatment for up to 30 nights or days. BHSF also offers 24/7 GP access via video or phone call. Policies also cover the cost of prescriptions and flu shots.
Simplyhealth
Simplyhealth is the first health insurer in the UK to hold B Corp status. This means that they are proven to operate to high standards in terms of sustainability and transparency.
You can choose from five levels of cover, with the first level costing just £7.50* per month. This includes 24/7 access to a GP via app or telephone appointment, physical assessments, counseling and wellbeing advice. You will also be able to claim up to £20 worth of prescription benefits.
However, the first level does not cover dental or optician appointments. For this you will need to be on their second tier plan which is £10* per month for one person. Level five cover (their most comprehensive plan) is £60* per month.
Children can be added to your policy, but at a cost ranging from £1.50* for level one to £18* for level five.
Sovereign healthcare
Founded in 1873, Sovereign Health Care offers five levels of cover from £9.62 to £28.86* per adult. You can add dependent children under 18 for free (AE10). Children also have their own benefit and receive the same level of insurance as their parents (with the exception of birth or adoption payments).
You can request a refund of 100% of dental and optical treatment costs, up to the agreed value in your policy. For all other benefits, you can request a refund of up to 50% of your policy limit.
One of the great advantages of Sovereign Health Care is that you can request treatment anywhere in the world (as long as you are seen by a qualified specialist).
UK Healthcare
UK Healthcare is one of the oldest established providers of health cash plans in the country. They offer four levels of cover ranging from £9 to £36 per month*.
You can request a refund of 100% of the cost of the treatment which also includes complementary therapies such as homeopathy, reflexology, aromatherapy and therapeutic massage. You will also be able to take advantage of special membership fees in the gym.
UK Healthcare cash plans will also provide temporary cover while you’re abroad, and there’s a helpline if you need extra support. The plan also includes an accidental death benefit for adults of between £2,500 and £10,000, depending on the level of policy you choose.
Westfield Health
Westfield Health Group acquired UK Healthcare in 2018, but also offers its own cash plan with a choice of five levels, ranging from £8.09* to £49.39* per month. Children can be added at no additional cost.
Levels one and two plans do not cover prescription costs, while levels three, four and five limit your claim to number of items, not value. For example, coverage level 3 means you can only claim a refund for one item.
Gym discounts are available and all plans give you 24/7 access to a GP by phone.
WHA Direct
WHA Direct offer one of the cheapest plans available – from just £7 a month for their lowest level of cover to £19* for their most comprehensive. Alternative therapies and counseling are also covered. Note that what you can claim back is spread over two years rather than one, which is reflected in lower premiums.
You can add your partner to your policy at an additional cost, but children under 18 can be added for free.
Search for cash plans to help with routine healthcare
Health cash plans should give you value for money, so it’s worth taking a few minutes to work out what type of treatment and services you’re most likely to access before you compare policies.
You can also supplement your health cash plan with private health insurance. Comparing policies can help you get the treatment and care you need at a time and place that works for you. For more information, you can check out our comprehensive guide to the best private healthcare in the UK.
