New relationship opens up health insurance market for employers who want extend affordable health benefits to more of their workforce
Howden Employee Benefits & Wellbeing has partnered with Equipsme in a deal set to make affordable health insurance available to employees of thousands of UK businesses.
The Covid-19 pandemic has seen individuals and businesses place an increased value on their health. The reports of record waiting times for NHS treatment have prompted many to consider private healthcare options as an alternative.
Research carried out by Equipsme reveals that interest in private health insurance and treatment has doubled since coronavirus hit. 58% of employees consider health insurance to be a valuable benefit, compared with 36% who value a company phone and 25% who value gym membership.
Cheryl Brennan, Executive Director at Howden Employee Benefits & Wellbeing, says: “The Covid-19 crisis has shone the spotlight on our national health and wellbeing. Employers and employees alike recognise the value of healthcare benefits. Being able to have quick and cost-effective access to diagnosis and treatment has risen up many businesses’ agenda.
‘’We have seen clients that previously limited private healthcare cover to senior management or key employees within their organisation want to extend it more widely across their workforce. For some employers, cost has previously been the main barrier to making this benefit widely available, but our partnership with Equipsme means that they now have a cost-effective option.’’
Standard cover on an Equipsme plan includes private physiotherapy appointments in addition to a remote GP service, private prescription delivery and access to online health check and AXA PPP healthcare’s nurse helpline for £7 per person per month.
Features of the Equipsme plan include:
- Every plan holder receives a health check and has 24/7 access to a private GP service as well as physiotherapy.
- Stress support provided by professional counsellors can be added for £1.50 per employee per month.
- Employees can easily upgrade their level of cover to include diagnostics and treatment and can also add family members paying separately via their own direct debit which saves Benefit in Kind tax and also minimises the administrative impact on the payroll team.
- The same prices are offered for people aged 16-69, whether they are new or existing customers, and regardless of whether they have made a claim
Equipsme Founder, Matthew Reed, comments: “Businesses are emerging from lockdown and asking what they can offer – sustainably – to reward and support their staff with maximum impact. We are delighted that Howden Employee Benefits & Wellbeing see the opportunity to help more businesses around the country to deliver a hugely valued benefit to all their team.”
Cheryl added: “Our partnership with Equipsme means that valuable healthcare cover is now more accessible than ever before. It offers flexibility and practical health support from Day One, with access to professional advice around the clock. It also meets the growing demand from employees who want to spend some of the money they have saved from commuting and holidays into access to healthcare support.’’