Celebrating Simplyhealth's success in 2012
2012 was a busy and successful year for healthcare provider Simplyhealth. By continuing to focus on its market proposition and the escalating needs of its customers, it saw new customer numbers increase significantly on 2011, easily surpassing its challenging targets and growing overall customer numbers.
Raman Sankaran, Sales Director at Simplyhealth says: "Overall our sales are up, and the employer market is a key part of that. We were particularly successful in the corporate cash plan and self funded markets. After specialising in self funded health plans for over 25 years, we're seeing that more employers are appreciating the control they get over the benefits they provide, and the genuine flexibility a self funded health plan can bring. Of course they can also bring tax savings, which can be a significant plus point for businesses over an insured solution.
"We're committed to providing a range of affordable and effective health plans for all businesses, whatever their shape or size. In 2012 we continued to listen to the needs of businesses and enhanced our proposition to meet their needs. We spent time developing new benefits for our corporate paid cash plan, which launched at the beginning of this year.
"The lifestyle benefits we have introduced include a GP helpline, help with prescription charges, GP fees and vaccinations, which all form part of our new primary care module. As well as strong benefits, we offer extra support to clients to help them promote the use of their plan to employees."
Over the past few years the corporate paid health cash plan market has seen considerable year on year growth. In times of economic difficultly, organisations are choosing to invest further in the health of their employees over traditional remuneration benefits such as pay rises and bonuses.
The Laing and Buisson Health Cover Report 2012 highlights how the corporate market has changed:
Health cash plans funded by companies accounted for almost a fifth (17%) of total market demand, representing 510,000 contributors at the end of 2011.
There has been a strong upward trend since 2006, when it was estimated to be around 8% of market demand
Total company paid contributors rose by 11.2% in 2010, and almost doubled from 2006, growing by an estimated 93% between 2007 and 2010 inclusive, despite the economic recession during this period Raman Sankaran continues: "Employers see the value of health cash plans, as an affordable way of providing valuable health benefits that their employees will regularly use. They can also improve the health and wellbeing of their staff, minimise absence and boost morale.
"These are all valuable assets at a time when businesses are facing extra challenges brought on by the fragile economy."
Notes to editors
- We became Simplyhealth in 2009 after bringing together HSA, BCWA, LHF, HealthSure, Totally Active, our family of health companies have joined together over the last ten years to form Simplyhealth
- We've been providing healthcare solutions for 140 years, dedicated to serving our customers and patients through a variety of cash plans, dental plans, private medical insurance, self funded health plans and mobility and living aids
- Simplyhealth is a trading name of Simplyhealth Access, which is authorised and regulated by the Financial Services Authority Simplyhealth as it stands today, now covers nearly four million people with health plans (more than any other company) and helps 20,000 companies with their employees' health
- Simplyhealth is committed to making a positive impact on its communities. Each year, we donate over £1 million to health related charities and causes
- The Laing and Buisson Health Cover Report 2012 is available at www.laingbuisson.co.uk
The information contained in these articles is intended to be for general interest, and should not be relied upon for specific conditions or complaints. You should always consult your GP or other healthcare practitioner for specific advice. The information provided is not the opinion of Simplyhealth and has been sourced through a third party.