Health Shield – the award-winning corporate health cash plan provider – has achieved a market-first, by introducing new Flexible Benefits products that remove any unnecessary duplication with other product providers.
The innovative new products, which will be launched for all Flex schemes commencing from January 2013, will offer the choice between a comprehensive health cash plan, or one that removes the dental benefit. This provides clients with the unique option of dovetailing the health cash plan with a stand-alone dental plan product.
Dental is consistently the third most popular benefit, according to recent industry research. Through a dedicated Product Development Focus Group (PDFG), Health Shield as a non-profit making Friendly Society has developed the new schemes to enhance its product portfolio offering, in line with benefit demand and use.
From January, Health Shield will offer four different Flexible Benefits schemes: ‘Flex’ (3 levels) and ‘Flex’ Extra (5 levels) – with or without dental. The ‘Flex’ product range is designed to slot into any flexible benefits platform, offering a wide range of healthcare benefits and can be provided on a voluntary or company-sponsored arrangement.
Philip Wood, executive director of sales and marketing at Health Shield, commented: “We are reviewing our entire product portfolio for 2013 onwards to ensure that it continues to meet company and members’ needs, while reflecting the changing market landscape in line with our business strategy.
“The new ‘Flex’ product is the first-of-its-kind in the health cash plan market, providing a versatile option that reflects current needs and buying trends. It further demonstrates our commitment to offering a diverse range of products and benefits that are underpinned by high levels of customer service.”
The product announcement comes hot on the heels of Health Shield receiving its latest industry award nominations for ‘best cash plan provider’ and ‘best service’ at the Cover Excellence Awards.