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How Do Healthcare Cash Plans Work?

When it comes to private health cover policies, many people simply do not realise that there are alternatives to private medical insurance on the market. In this article, we will look at healthcare cash plans provide an alternative option to private medical insurance; considering what they are, how they work and how they could benefit consumers. What is a healthcare cash plan? Healthcare cash plans are different to the typical private medical insurance policies. With the cash plan option, when you incur medical costs the policy will pay back some money towards them in exchange for monthly payments (premiums). How does it work? In simple terms, you pay a monthly premium in exchange for your healthcare Medical insurance cash plan cash plan policy then you can claim back a predetermined maximum percentage of certain medical charges . For example, if you spend £100 at the physiotherapist and you are on an 80% cash plan then you could claim back £80 (keep your receipt!). The type...
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The Pros and Cons of Cash Plans

Around 4 million people in the UK currently have a cash plan; this compares to around 6.7 million people with private health insurance. So what exactly do cash plans do and what can we gain? Most health plans include the 'core benefits' of dental and optical allowances in addition to a hospital stay benefit whereby you may be eligible to claim a set benefit per night spent in hospital. Many plans now also include a benefit for private therapies such as physiotherapy and osteopathy; some health plans also include alternative therapies such as homeopathy and acupuncture. A selection of plans on the market also boast extra benefits such as specialist consultations, scans, health screening and cancer drugs. Essentially, cash plans are designed to provide a cash benefit for charges outside of NHS cover, or to top up NHS treatment. Sounds like a good idea, but what are the pros and cons? - Starting with the positives, it is evident that this type of cover provides a 'peace...
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