BHSF Corporate plans
BHSF is introducing three major changes to its existing health cash plan products in September and October this year:
Premiums are being increased for BHSF Corporate and THS Corporate health cash plans from 1 September and for Healthscheme plans from 1 October. BHSF cited ‘a steady increase in the cost of healthcare treatments’ as one reason behind the increase.
A number of product changes and improvements will be implemented at the same time. These include an improved GP helpline, which will include a ‘virtual GP’ webcam consultation and private prescription service. There will also be an extended maternity benefit for the adoption of children up to three years old. The complementary therapies benefit is being expanded to include reflexology and there is also a new discounted gym membership arrangement. However, the home help service is however being removed due to changes in how local authorities provide the service, which has made managing that benefit difficult.
BHSF’s Network Benefits discount site has been expanded to include 50 significantly improved discounts. Among the brands now covered are Sainsbury’s, Asda, Debenhams and Boots.
Comment: Health cash plans have traditionally revised their benefits annually, although in recent years the race to add new benefits and to tweak existing ones has slowed. A big issue for HCPs has also been how to get customer to increase their spend without increasing prices on existing products, although providers now seem more willing to raise prices than they have been in the past too.
BHSF has taken a three-pronged approach to these issues, also being very transparent about the ‘bad news’ changes. The overall result is a product it can reasonably argue is ‘better’ for most people on balance, albeit will cost a bit more too.
Plus points: Some benefit improvements; More discounts (which can help offset the cost of the policy); The virtual GP webcam offers a practical benefit that uses technology to make diagnosis easier for both patient and doctor.
Not so plus points: Increased premiums; Some benefit reductions; Discount schemes have little to do with insurance (which may be a good or a bad thing…).
Website: http://www.bhsf.co.uk.
Rating (max 10): Innovation: 7. Overall: 7.5 .Silver
Tags: BHSF; HCPs