Corporate health insurance
Healthcare insurance plans - third party administration and management
Save money for your organisation while enhancing care and support for your employees
Our corporate health insurance plans are designed around the exact needs of your business and the latest clinical developments.
Unlike traditional schemes, healthcare RM plans are based on evidence-based clinical practice, which means we do not require a patient to visit a GP to access treatment. We do, however, guide patients to appropriate clinicians.
Importantly, in cases where complex medical care is required, we also work closely with the NHS, which can result in substantial savings for your scheme.
This is not simply about excluding private care for certain conditions, but because we actively manage each case it amounts to a more flexible and sophisticated approach. As well as making savings for your organisation, third party administration and management means your employees and their families receive close, personalised support to help them manage their illness or injury.
Healthcare RM offers flexible corporate health insurance plans to cover the following areas:
- Third party administration services
This can be as an extension of our case management service or as a stand- alone benefit. It is designed to administer and manage private health care claims including:
- Full benefit scheme
- e.g. similar to standard BUPA or PPP "Top of the Range" benefits
- Restricted benefits scheme
- e.g. similar to products offered by a variety of healthcare insurance companies including Standard Life; Pru Health; Norwich Union including: NHS pay bed schemes; inpatient only schemes; 6 week delay schemes; exclusion of high cost care (or care which is provided in reasonable timescales by the NHS) schemes; etc.
- Return to work scheme
- designed to provide benefit to help an employee return to normal or modified duties.
- Occupational support scheme
- designed to provide benefit to maintain a person at work; reduce occupational risks and to reduce sickness absence.
- Careline support scheme
- designed to support the Healthcare RM Careline programmes and high risk absence areas such as musculoskeletal and mental health.
We are able to offer third party administration and management of corporate health insurance schemes via a number of various legal vehicles including offshore captives and medical trusts. Our preferred route is the Medical Trust, which offers the following advantages:
- An immediate reduction in Insurance Premium Tax (IPT), as the Medical Trust is exempt from IPT - this will save 5% off the cost of the premiums
- Design the benefits and rules around the needs of your business and its employees
- Reduce the cost of insurance charges
- A reduction in administration charges if combined with case management
- Ensure that members of the scheme and their families are receiving advice on the latest evidence-based practice, and are avoiding unnecessary diagnostics and treatment (which unfortunately is now not the case in the private health sector)
- Where it is clinically more appropriate to do so, manage complex cases such as cancer and cardiac via the NHS. Substantially reduce claims costs, and hence the cost of the scheme, whilst improving the benefit to members
- Provision of a case manager to support the patient and their family through the treatment process, whether NHS or private
The Medical Trust is very simple to set up as it uses a standard template. This remains valid for 8 years and meets all necessary legal requirements.
For a tailored business healthcare solution
Call us today on 0871 200 5060
