Are Private Health Plans The Next Big Growth Market?

Health insurance plans are arguably the biggest potential growth area in the UK. As it becomes more difficult than ever to get GP face-to-face access, or find an NHS dentist, people are going to have to cope with paying tax and NI, plus a private health plan on top. Tough choices ahead for many. Here are some insights from Healthwatch;

At the start of February the government announced a £20,000 bonus to dentists who set up practice in areas of England with poor access to NHS care. The plan, which has been largely criticised by leaders within the dental industry for not going far enough and only dealing with the short term issues, also includes a requirement on dentists to take on teeth-cleaning in schools. But despite this new incentive, the issue is likely to remain largely unchanged as thousands of families face an uncertain economic future which is putting healthcare needs at the bottom of the list.

Healthwatch, an independent consumer champion for both health and social care, responded to the announcement with some interesting insight into the challenges being created by the current economic picture.

“Across England, we have seen major access issues in NHS dentistry. The rising cost of living has had a real impact, with our latest data showing that one in five people have avoided going to the dentist because they can’t afford it. A year ago, this figure was one in ten.”

BHSF, who provide a health cash plan as part of its suit of healthcare solutions, has recorded a sharp increase in the number of claims being made for dental in the 12 months from 2022 to 2023. An additional 15,000 claims were made on dental services during this time.

Commenting on this significant rise, Neil Fisher from BHSF said,

“Our Health Cash Plans provide individuals with up to 100% cash back on dental claims. Cover can also include partners as well as children3. One of the significant benefits of these policies is that it includes private dental practices carrying out this work which helps to alleviate the need to find an NHS dental practice in your area. Customers can come to us directly for a Health Cash Plan starting from a little as £8.40 a month. With this plan you can cover up to a maximum of £200 per person per year for dental work. We also offer policies that can be provided by employers as part of an employee benefits package.

A BHSF Health Cash Plan can also cover additional benefits such as optical and NHS Prescription charges, diagnostic consultations and therapies up to a specified benefit amount.

“The reality of a health cash plan is that it can offer families a real opportunity to prioritise their health when times are financially difficult,” said Neil Fisher. “At BHSF we strive to pay out all claims within 24 hours so that our members are never in a position of having to decide between a health issue and putting food on the table.”