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8 things you didn’t know about health care cash plans

Cash Plans2

In today’s world, looking after our health has never been more important, whether it’s eating healthily or taking part in more exercise.

However, it doesn’t have to stop there. You could also proactively manage your health with a health care cash plan.

But, what is a health care cash plan? Put simply, it allows you to claim money back towards everyday health costs, helping you to keep on top of your health and wellbeing. If you require dental check-ups or treatment, glasses or contact lenses, physiotherapy or chiropody treatment, or you need to pay for a prescription, you could claim money back towards these costs, and many more, with a cash plan.

Leading cash plan provider, Sovereign Health Care gives an insight into what it means to have a cash plan.

1)  A cash plan isn’t the same as private medical insurance (PMI)

Many confuse cash plans with private medical insurance; yes, both are types of health insurance, but they are in fact very different. Cash plans reimburse individuals for those regular health care check-ups and treatment whether they are provided by the NHS or privately.

Private medical insurance on the other hand is there to cover the costs of major private medical treatment, such as surgery, which bypasses NHS waiting lists.[1]

PMI tends to come at a much higher cost – whereas Sovereign’s Good All Round cash plan starts from just £2.22 a week, and the premiums don’t go up if you make a claim. It’s easy to make a claim too. All you need to do is submit your claim either online or by post along with the receipt for your treatment and the money can be paid directly into your bank account.

2) Cash plans cover a wide range of health costs

There’s more to the Good All Round cash plan than just getting money back on regular health costs such as optical or dental care and prescriptions. 

You can also claim money back towards alternative therapies such as acupuncture and reflexology, or if you get an unexpected injury, you can get money back towards physiotherapy or sports massage. Cash plans also pay out fixed sums per day/night if you find yourself in hospital which can help with additional expenses such as car parking. There are other benefits available too, you can find a full list here.

3) It can help the family budget stretch further and give added peace of mind

Cash plans can help families when they have to pay out for everyday health care. By making treatment more affordable, your family can access treatment when they need it because cost isn’t as much of a worry.

Sovereign’s Good All Round policy covers children under the age of 18 on an adult’s policy at no additional cost and they have their own claiming limits, so it can really help the household budget if their treatment isn’t covered by the NHS or you’d like the option for them to be seen privately.

4) You’ll be more aware of your health

Having a plan in place can prompt individuals to keep a closer eye not only on their own health, but also their family’s. With cost not being as much of a barrier, they may be encouraged to seek treatment quicker and more generally lead healthier and active lifestyles.

5) You could reduce the amount of time you’re off work sick 

Cash plans can benefit both employees and employers, as having affordable access to health care treatments can in turn reduce absences caused by illness and injuries.

Being able to claim money back towards the costs could encourage individuals to seek treatment earlier, rather than putting it off due to financial pressures. This means that more serious issues are more likely to be prevented or picked up early which could result in less time away from the workplace.

6) Cash plans can benefit people of all ages 

If you’re aged over 18 and under 66, you’re eligible to apply for Good All Round, and with a wide range of benefits it’s relevant for all ages. What’s more, dependent children aged under 18 are covered for free on an adult’s policy. No medical checks are required, and premiums are the same, regardless of age and medical history.

7) You can get round-the-clock support

With Good All Round, you can also get support through a 24-hour telephone helpline. If something is causing you stress and anxiety, whether it be illness, family crises, or managing your money, speaking to a trained advisor can help put your worries at ease.  The service can also help you deal with significant life events such as moving house, starting a family or retirement. Having that support at the end of a phone can benefit your mental health as well as your physical health.

8) Cash plans can help reduce pressure on NHS services 

The stress on the NHS is apparent, with both services and budgets stretched.[2] By being more proactive about looking after your health, you could identify and treat issues before they develop into more serious problems which cost the NHS time and money. Plus, cash plans can help you afford to receive treatment privately, allowing you to avoid the waiting list and help to reduce the burden on the NHS.

For more information about Sovereign Health Care and the Good All Round cash plan please visit:


[1] Financial Ombudsman Service, Private medical insurance

[2] Guardian, Why is the NHS under so much pressure this winter? 28th January 2018