Award-winning health cash plan provider, Health Shield paid a record 486,595 claims in 2015, representing 97.0% of all claims submitted during the year.
The most common benefits for claims were dental (32%), combined physiotherapy (22%) and optical (19%). Together these benefits totalled 74% of all claims.
Declined claims totalled 3% in 2015, with the top reasons being the maximum amount already paid (34.7%) and admin cost not covered (6.6%).
In 2015 Health Shield retained 99% member satisfaction for claims service, alongside an 8% increase in premium income to more than £31 million, the highest level in its 139 year history. The Society saw an 11% increase in members in 2015 and now covers over 240,000 members and their families. The number of claims paid by Health Shield in the previous year (2014) was 446,286 (97.4%).
Health Shield operations and risk executive director, Courtney Marsh said: “By publishing another set of strong claims statistics we continue to reassure members, potential members and advisers that cash plans are a valuable benefit. We’ve invested heavily in our dedicated staff over the years, to ensure we can consistently offer the highest level of service, and we live by our core values as a Friendly Society of integrity and trust. Both are reflected in the customer satisfaction feedback we receive and the high number of claims we pay.”
Steven Thomson, Business Development Manager at Stackhouse Poland added: “Clients and their employees want access to fast, affordable healthcare, with little or no fuss and cash plans offer just that. Providing employees with the choice and added flexibility to claim back their spend on a variety of treatments for as a little as £1 a week is a compelling addition to any employee benefit programme. These policies have become increasingly popular as a feature of wider wellbeing strategies, due to the way they operate and enable employees to access treatment sooner, which in turn can play a significant role in reducing absenteeism.”