WPA NHS Top-up
WPA’s new health cash plan offers standard HCP type benefits plus a range of built-in and add-on benefits that aim to top-up what is already available on the NHS. The plan is available in individual, corporate company paid and corporate voluntary (the main market for HCPs) versions. Three price levels are offered with either 75% or 100% reimbursement.
A voluntary scheme with up to 49 employees could pay from £7.76 a month for Level One benefits with 75% reimbursement or up to £21.00 a month for a Level Three plan with 100% reimbursement.
A Level Three plan would pay annual sums of up to:
• Dental: £150.
• Optical: £150.
• Therapies: £300.
• Specialist consultations and second opinions: £250.
• GP services: £150.
• New baby (cash lump sum): £200.
• Hospital stay: £50 a night/day up to 20 days.
• A&E attendance: £20 per visit (max three visits).
• NHS car parking (only when visited as an in-patient): £50.
All versions of the plan include a 24/7 helpline. In addition to the above benefits, a number of options (the ‘extras’) can be added to the basic plan. These options pay the following annual maximum benefits:
• Scans and screens: £200 (adding this benefit costs an additional £1.00 a month).
• Mycancerdrugs: £50,000 lifetime benefit (cost £4.20 a month or £10.00 for smokers).
• European cover including air ambulance: £100,000 (cost £1.00 a month).
• Cosmetic surgery: £20,000 (cost £3.00 a month). This benefit pays for reconstructive plastic surgery for certain scars e.g. on the face.
• Face to face counselling and helpline: six sessions (cost £1.00 a month).
• Allergy testing: £80 (cost £0.50 a month).
• Dental trauma: £10,000 (cost £2.50 a month).
• Personal accident: up to £15,000 (cost £0.50 pm).
On corporate paid schemes, employers receive a monthly allowance of between £0.50 to £1.50 to offset against the cost of adding extras if they have 3-249 staff, or £1.00 to £2.00pm for larger schemes. Until the end of March 2011, commission is 40% initial and 5% renewal.
Plus points: This plan takes the well-established HCP concept and adds a number of benefits to position it as a top-up to what people already get on the NHS; By so doing, it will appeal to a wide range of company and individual clients either as a low cost standalone solution or to supplement PMI cover; Cover can be very inexpensive (less than £1 a week for basic company paid cover); Pricing is transparent, and the basic and add-on features all meet real needs; WPA points out that in the Netherlands, 80% of people choose to top-up their basic State health cover.
Not so plus points: Can be expensive e.g. a top of the range plan with all options would cost £13.70 on top of the basic plan premium (i.e. up to £34.70 per employee a month for a small voluntary scheme at Level Three with 100% indemnity; Having more options adds complexity; One marketing challenge is that many brokers still overlook the opportunities that HCPs offer.
Website: wwwwpa.org.uk/topup.
Rating (max 10): Innovation: 9. Overall: 9. Platinum.