Corporate Healthcare Trusts
A Healthcare Trust is an arrangement through which your employees can receive a wide range of healthcare benefits without the need for you to set up an insurance policy. Usually, a Corporate Trust is attractive to companies with a claims fund in excess of £250,000.
Key features and benefits:
- Trusts can save as much as 10% on the average corporate premium
- You have more control and flexibility over the type of benefits provided
- If part of the claims fund is not used, it can be carried forward to reduce costs in subsequent years
- Claims are administered by a separate company - either an insurer or specialist third party administrator
What you need to consider:
Healthcare Trusts are funded through payments made by you which are then used to cover eligible medical expenses incurred by your employees. And, because you set the rules of the Trust, you have greater control over the type and range of healthcare benefits available to your employees.
Your liability can be reduced by purchasing a ‘stop loss insurance’ for amounts in excess of the projected claims fund.
Levels of benefit and cover vary greatly but we can walk you through the entire process and find the ideal Healthcare Trust for your company.