The Health Fund

This is an innovative and highly cost effective alternative to Private Medical Insurance (PMI) for groups in excess of approximately 50 employees whether currently insured or where there is no scheme at present offered to staff. The advantages over a traditional PMI scheme are significant:

• The Health Fund is a medical savings account under-pinned by an Aggregate and Specific Stop Loss which ensures the Fund is always cash positive.
  
  
• The fund is held in an Escrow Account with HSBC, so client money is protected by IBA rules.
  
  
• Treatment charges up to 40% less for procedures than traditional insurers, because of Fixed Price Packaged Fees, and Surgical Protection Insurance, therefore protecting the Fund.
  
  
• There is no hospital banding and treatment can be taken anywhere in the EU.
  
  
• P11d's only payable on the Retained Fund + Safety Net Insurance.
  
  
• I.P.T. is only payable on the Safety Net insurance costs.
  
  
• The Health Fund is underwritten over a 3 year period, therefore client premium costs will not rise for a further 2 years after they take out the scheme.
  
  
• Compound Interest of 5% is payable on the Fund balance.
  
  
• Money in The Health Fund belongs to the client, therefore making it a balance sheet asset.
  
  
• Each employee would become entitled to additional benefits such as Extra Care, and Second Opinion Service.
  
  
• Any unused funds can be carried forward from year to year.
  
  
• Each scheme can be completely tailored to each clients needs.
  
  
• Any form of underwriting available.

Click here for illustrative quotation for group pmi costs currently in the region of £100K per annum.

Benefits for Business Ltd is authorised and regulated by the Financial Services Authority. Benefits for Business Ltd is entered on the FSA register (www.fsa.gov.uk/register/) under reference 304510.